TIPS TO AVOID OVERSPENDING
Nedbank behavioural economist Amy Underwood offers four practical ways to control the urge to splurge: 1. Stay home: The high cost of buying things on sale is addictive, so if you know you have an impulse to spend, stay at home and avoid shopping places. 2. Go to a small shopping mall: Some people overestimate their level of self-control. Once they see the ‘sale’ sign, they react to it. If this happens to you, go to smaller shopping centres or a specific store to get only what you need.”
3. Shop in the morning: The part of the brain that deals with selfcontrol is the prefrontal cortex. It helps us to do the right thing when it’s hard. If you have to shop, do so first thing in the morning when your level of self-control is still high, and not yet depleted.
4. Eat before you shop: A part of the brain needs sugar to operate, so have fruit or a good meal before you go shopping. This will keep your mind sharp enough to avoid getting caught by sale signs. When you eat, don’t go for sweets or stimulants like coffee – it can affect many parts of your brain.