How many times over the years have you logged into your bank account and felt your heart do a little skip when you see a rise in your account balance. Chances are, you’re one of the lucky ones who got a rewarding bonus from your company at the beginning of the year.
Giving yourself a little treat is one thing, but the problem is, not many of us are used to handling a sudden influx of cash. To be fair, most of it is caused by a neural compulsion in many people.
According to a study published in Neuron, the brain's pleasure centre floods our bodies with dopamine at the very thought of getting something we want. Putting it simply, that means that when we buy what we want, we feel good.
Unfortunately, reacting to the impulse to just spend might not be the best idea. It doesn’t help that retailers are holding more and more sales and promotional events, especially during holiday seasons that help tempt you away from your money.
These sales and holiday tactics are working too. A recent Deloitte survey found that retailers have a 75 percent chance of converting a shopper to a purchaser during the holiday season!
By choosing to manage your windfall wisely, you can avoid falling into that spending trap.
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