consumer
Getting that hit of dopamine is the reason many of us often purchase products. Whether we realize it or not. Unfortunately, the dopamine rush is short-lived. This is the reason we need to replace new cars as often as we replace new phones. Or new clothes. There are a few practical solutions to help us prevent the bad spending habits that many of us have acquired.
Once we recognize that the new purchase we are considering is unlikely to make us happy long term, it becomes easier to do the right thing.
When tempted to buy something new, think long and hard about the diminishing happiness that will likely accompany the purchase. The Dopamine simply doesn’t last very long.
In personal finance, each purchase is either working towards your goals or pushing you further away from them. When tempted to make a purchase, we should spend some time thinking about the purpose behind the purchase. Is it likely to make us happier? How will we use it?
Financial fitness is just like physical fitness. The more often you flex the muscles of frugality, the easier it will be the next time. On top of that, you will also prevent the consumer regret that plagues so many of us after a big purchase.
After everything is said and done, you cannot deny yourself forever. It’s just not healthy. So, remember to enjoy yourself however your heart pleases every once in a while.