Do sad people spend more money?
Hang on to your wallet if you're feeling sad and lonely, suggest researchers at Carnegie Mellon University.
It's not just about feeling blue though. It’s the mix of sadness and self-focus that tends to loosen the purse strings, according to the study.
Individuals who struggle with self esteem are likely to think less of themselves and might be more motivated to boost their self-image with a pricey purchase, the researchers suggest.
The difference in prices — dictated solely by differing emotional states, the researchers maintain — was significant: Bidders in the sad-story group were prepared to pay almost four times more for their item compared with those who entered the auction in a more neutral emotional state.
The subjects that watched the sad videos maintained that the content of the video clip didn’t affect their spending in any way however. In other words, they seemed unaware of the impact their mood had on their decision making.
Of course, advertisers — whose principal aim is take advantage of people's low levels of contentment and appeal to their need to be happy — have known this for years. But many of us still succumb to their pitch.One major side effect of all this misery spending though is the realization that most purchases actually don't provide much of a long-term restorative effect. This often leads to buyer's remorse, returned products and the type of ennui that often makes things worse.
Do you think happy people spend less than sad people? Have you ever used retail therapy as a pick-me-up?
By Gordon Powers, MSN Money
Posted by: Holly | Jan 29, 2022 6:30:14 PM
I am 100% a emotional shopper! shopping is my therapy.. i love to wonder stores when im upset/ feeling blue, i buy useless things i dont need and it makes me feel better.
Posted by: watchdog | Jan 29, 2022 7:38:36 PM
Hey "Michelle", if that is your real name. How much are you getting paid to plug that website? You horrible, horrible shill.
Posted by: Heather | Jan 29, 2022 8:06:39 PM
I am a proud emotional shopper! These days though I admit I shop for hobby items, I can make something then I have something (ex fragrance oils or materials for soap making/wrapping) I don't sell them I just like them. It is a longer lasting experience, I can experiment and if I don't personally like the result someone else always does and I can gift it :o)
Posted by: joan | Jan 30, 2022 9:49:38 AM
No-I don't shop when I'm in a sad mood. The items purchased are usually not even things I need or want. I've gotten over this 'emotional shopping" years ago. There are ways to overcome a bad day-I go to the gym, I bake something delicious. I don't use my anger with my credit card, which is always paid off at the end of the month anyhow. I never carry a balance on my credit cards.I guess I'm too practical with my dollars .
Posted by: Lisa | Jan 30, 2022 1:35:08 PM
So...am I a shopaholic?? NO!!! It is a terrible waste of time, energy and money...and you STILL have to pay the bill at the end of the month anyway (if paying by credit card), so why bother??
At least if you drink...you get a good buzz for the money...or if you smoke...you get a good rush for the money. lol (Boy, I"m going to end up paying for this final sentence, aren't I? lol
Posted by: Mamooshka | Jan 30, 2022 6:09:51 PM
Michelle (who wrote the first post):
You are a chubby moo-moo !
You are a Dairy Queen, an old bovine.... already seventeen...
Dairy Queen... feel the pumping, milking machine ... oh yeah....
You can moo, you can poo,
Soon you'll be tasty beef stew...
Ooooh, see that girl, that old Holstein...
Diggin' the Dairy Queen ....
Posted by: Terry | Feb 4, 2022 11:54:56 AM
Right On, Im Deppressed Im Gone Shopping lol