How to Avoid Overspending Online: Set a Limit Beforehand
As trivial as it might seem, many people tend to overspend when shopping online for this one reason: they didn’t set a limit beforehand.
It doesn’t matter if you’re online, shopping for groceries, furniture, applications, or eBooks – people tend to go over the limit due to the ease that online shopping brings.
It’s literally just a matter of a few clicks that you aren’t easily able to perceive how much money you’re actually spending, whilst in contrast, that same amount, coming out as cash from your wallet might shock you.
Chances are, if you’re a big fan of some sort of product – to the point that you must have every single available product and accessory – you’re going to want it.
Like really want it. An example of this would be if you wanted a limited edition T-Shirt from your favorite band, you’ll really want to buy it.
However, this often hinders our perception on the value of those certain items.
What you want to do, according to PsychologyToday.com, is to go online and research about it first, find out its true value (including shipping costs), and set that as the limit of your purchase.
Optimally, you’ll want to write that number down. This helps in two ways:
Often times, like in the example, if it’s limited edition, it will be priced slightly higher. This lets you see how much extra you’re actually going to be paying as a premium, and it’ll make you think twice before paying ridiculous amounts for it.
If it’s priced at $599, would you really be willing to pay a $300 premium when it’s priced for $899 on eBay?
Additionally, that guideline will also affect you psychologically, warding you off from spending way too much money.
If you’re shopping for furniture online, you’ll find that you might not be readily accepting to buy a leather sofa over a cloth sofa if it costs almost twice as much?
We certainly hope not.
You don’t want to be scouring your room for spare dollars near the end of the month because you’ve spent a little bit too much on something that isn’t exactly essential.
Prioritize and realize. Set that limit beforehand.