The Emotional Component of A Purchase - Deepstash

Bite‑sized knowledge

to upgrade

your career

Ideas from books, articles & podcasts.

The Emotional Component of A Purchase

  • Marketers capitalize on the emotional component of any purchase while working hard towards ensuring consumers make ‘impulse’ purchases both online and offline.
  • Many people purchase due to their need for emotional fulfilment, indulging in shopping therapy and incurring credit card debt.
  • This leads to random, unused stuff lying in the house, which is not really needed.

2

STASHED IN:

202

MORE IDEAS FROM THE SAME ARTICLE

One can develop healthy spending habits and avoid wasting money by using the simple 30-day rule: Whenever there is an urge to spend on something, just wait for 30 days.

One can buy whatever is required while making sure that the basics of personal financial management (budgeting a...

  1. Review your spending, taking an inventory of all your purchases. This provides a better understanding of where the money goes.
  2. Start to look at what all spending can be curbed (it will be a lot) and one can start small, like by not buying the candy at the grocery store while waitin...

Most stores use the ‘SALE’ marketing gimmick (both online and offline) so that we can splurge our money now, instead of waiting.

The system is gamed for us to spend our money wherever we go. We need to stop wondering where our money went and start telling it where to go.

Waiting a month distances us from the planned purchase emotionally, filtering out any impulsive decisions.

Waiting for 30 days before making any purchase makes us use our discipline, foresight, planning and restraint, and would feel exactly like curbing our urge to eat jun...

Discover and save more ideas by creating a

FREE

Deepstash account.

Develop a

reading habit

, save

time

and create an amazing

knowledge library

.

GET THE APP:

MORE LIKE THIS

It is a budget rule to help people reach their financial goals. It states that:

  • You should spend up to 50% of your after-tax income on needs and obligations that you must-have or must-do.
  • The remaining half should be split up between 20% savings and debt repayment and 30% to...

45

STASHED IN:

1.25K

Say goodbye to debt.

Debt robs you of your income! So, it’s about time you get rid of that debt.

16

STASHED IN:

118

What is 50/20/30?

  • The 50-20-30 (or 50-30-20) budget rule is an intuitive and simple plan to help people reach their financial goals.
  • The rule is a template that is intended to help individuals manage their money and save for emergencies and retirement.

40

STASHED IN:

165