When to avoid the shop­ping

The Sunday Mail (Queensland) - - NEWS -

AUSSIES who shop late at night on their mo­bile phones have been warned they’re likely to spend too much this Christ­mas.

Be­havioural econ­o­mist Phil Slade – who spe­cialises in the psy­chol­ogy of spend­ing – says so­cial me­dia feeds are spurring shop­pers to spend up big.

Two-thirds of peo­ple reg­u­larly shop on­line.

Al­most 60 per cent use dig­i­tal plat­forms to re­search a pur­chase.

“With likes, fol­low­ers and com­ments, it’s not un­usual for in­di­vid­u­als to be­come en­gaged in a ‘false feed­back loop’, driv­ing an on­go­ing need for new pur­chases that can be pho­tographed and shared on­line,” Mr Slade said.

“(The prob­lem) is the speed and ease (peo­ple) can ac­cess their money on­line to make im­pulse pur­chases which tend to be un­planned and un­bud­geted for.”

A Sun­corp bank­ing group sur­vey of more than 1500 peo­ple na­tion­wide re­veals al­most 70 per cent of re­spon­dents be­lieve “it’s OK to live a lit­tle” when it comes to spend­ing money.

More than 40 per cent said spend­ing cre­ated “feel­ings of hap­pi­ness” and Mr Slade said Christ­mas spend­ing could quickly get out of hand.

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