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  1. U.S. News
    https://money.usnews.com › ... › inside-the-psychology-of-overspending-and-how-to-stop

    Inside the Psychology of Overspending and How to Stop

    • "The desire to 'keep up with the Joneses' can lead people to spend beyond their means," says Sherman Standberry, a certified public accountant and managing partner at My CPA Coach. It can be tempting to … See more

    Lifestyle Creep

    Lifestyle creep refers to a phenomenon that occurs when your expenses unintentionally creep up as your income increases. You may, for example, shop and go out to eat more often … See more

    U.S. News
    Emotional Impulse Spending

    Many joke about retail therapy but it's a very real thing. Sadness is strongly associated with a sense that you're not in control of the outcomes in your life, according t… See more

    U.S. News
    Not Accounting For Inflation

    While inflation has cooled after spiking in 2022, prices are still above pre-pandemic levels. The average cost of unleaded gas, for example, is $3.99 per gallon as of September … See more

    U.S. News
    Credit Misconceptions

    "The availability of credit can lead some people to perceive it as 'extra money', leading to overspending," Standberry says. The truth is that you have to pay back every dollar, plus … See more

    U.S. News
    Why do we overspend?
    The psychology behind debt and overspending is complex, involving economic, social, and emotional factors. By exploring these intricate mechanisms, we can start to make better choices and develop healthier financial habits. Let’s take a closer look at why we overspend and the psychological dynamics at play.
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    Table of Contents
    Lifestyle Creep
    Emotional Impulse Spending
    Not Accounting For Inflation
    Credit Misconceptions
    Why do we overspend?
     
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  1. psychology of overspending

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    The psychology behind overspending includes the following factors: usnews.com 1 2

    • Social pressure: Influence from peers and societal expectations.
    • Lifestyle creep: Gradual increase in spending as income rises.
    • Emotional impulse spending: Making purchases based on emotions.
    • Mindsets: Psychological states that influence perceptions and decision-making.
    • Credit misconceptions: Lack of understanding about credit and debt.
    • High inflation: Economic factors affecting purchasing power.
    • Address overspending by recognizing patterns, implementing a budget, and seeking professional guidance. usnews.com 1
    Based on 2 sources:
    US News
    https://money.usnews.com/money/personal-finance/spending/articles/inside-the-psychology-of-overspending-and-how-to-stop
    1
    Inside the Psychology of Overspending and How to Stop
    Financial experts say social pressure, lifestyle creep and emotional impulse spending are common causes. High inflation and credit misconceptions can also be factors. Curb overspen…
    The Conversation
    https://theconversation.com/how-to-avoid-overspending-uncover-the-psychology-behind-why-people-buy-108680
    2
    How to avoid overspending: uncover the psychology behind why people buy
    Psychological states known as “ mindsets ”, which influence perceptions and decision making, can also make people more likely to spend. They occur outside of our conscious awarenes…
    usnews.com
    theconversation.com
     
  2. Psychology Today
    https://www.psychologytoday.com › us › bl…

    Compulsive Spending: What You Need to Know

    Dec 9, 2016 · Compulsive spending, sometimes called compulsive buying disorder or oniomania, is spending far beyond what is necessary. Though it often causes financial harm, people of means may engage in...

     
  3. WTOP News
    https://wtop.com › consumer-news › insid…

    Inside the psychology of overspending and how to stop

    Sep 24, 2021 · Overspending can be defined as spending beyond one’s means, possibly due to a sudden event, like a job loss, or a slow evolution of financial behaviors.

  4. MSN
    https://www.msn.com › en-us › money › pe…

    Inside the Psychology of Overspending and How to …

    Making ends meet has become a challenge for many Americans, with 42% reporting they aren't able to live within their means, according to a recent study by Wells Fargo. But what’s at the root of the...

  5. Psychology Today
    https://www.psychologytoday.com › us › blog › mental...

    Why We Often Overspend While Treating Ourselves

  7. WTOP News
    https://wtop.com › news

    Inside the Psychology of Overspending and How to Stop

  8. Psychology Today
    https://www.psychologytoday.com › ...

    12 Strategies to Curb Overspending - Psychology Today

  9. Yahoo
    https://www.yahoo.com › news

    Inside the Psychology of Overspending and How to Stop - Yahoo

  10. American Psychological Association
    https://www.apa.org › monitor › psycholog…

    How can behavioral science help our spending …

    Jun 1, 2023 · The APA Monitor on Psychology® sister e-newsletter offers fresh articles on psychology trends, new research, and more. First Name. Last Name. Email Address. Comment: Subscribe. Speaking of Psychology. Subscribe to …

  11. Nature
    https://www.nature.com › articles

    How spending decisions shape happiness in everyday life

  12. neurolaunch.com
    https://neurolaunch.com › psychological-reasons-for-overspending

    Unmasking the Psychology Behind Overspending Habits

  13. Self Help Education
    https://selfhelp.education › financial-self-care › ...

    The Psychology Behind Debt: Why We Overspend - Self Help …

  14. Starling Bank
    https://www.starlingbank.com › blog › reasons-for-overspending

    Psychological reasons for overspending - Starling Bank

  15. Advantage CCS
    https://www.advantageccs.org › blog › the-psychology...

    The Psychology Of Spending: How To Break Bad Habits

  16. nih.gov
    https://pmc.ncbi.nlm.nih.gov › articles

    Fear of missing out: A brief overview of origin, theoretical ...

  17. psychplus.com
    https://psychplus.com › blog › the-psychology-of...

    The Psychology of Overspending: Tips for Financial Wellness

  18. Australian Psychological Society
    https://psychology.org.au › insights › unravelling-the...

    Unravelling the psychological impact of financial stress in a cost …

  19. Securian Financial
    https://www.securian.com › insights-tools › articles › ...

    The psychology of overspending - Securian Financial

  20. Psychology Today
    https://www.psychologytoday.com › ...

    12 Strategies to Curb Overspending | Psychology Today Canada

  21. simplyputpsych.co.uk
    https://simplyputpsych.co.uk › capital-cognition › the...

    The Psychology of Saving Money: Why We Save and Why We Don’t

  22. U.S. News
    https://money.usnews.com › money › personal-finance › ...

    The Gift of Experiences: Why Memories Are Better Than Things

  23. Jupiter
    https://jupiter.money › blog › what-is-overspending...

    Overspending – Psychology, Meaning, Reasons, And …

  24. illumoney.com
    https://illumoney.com › top-reasons-why-people-overspend

    The Top 7 Psychological Reasons Why People Overspend

  25. Psychology Today
    https://www.psychologytoday.com › intl › blog › in...

    Is Anger Behind Your Financial Self-Sabotage? - Psychology Today

  26. Freedom Debt Relief
    https://www.freedomdebtrelief.com › learn › personal...

    The Psychology of Overspending - Freedom Debt Relief

  27. Breathe To Inspire
    https://breathetoinspire.com › psychological-reasons-for-overspending

    10 Psychological Reasons For Overspending (15+ Tips To Stop ...

  28. Earn Invest Live
    https://earninvestlive.com › personal-finance

    10 Psychological Reasons For Overspending: The Psychology …

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