Impulse shopping ruining your finances? Here's how to break the cycle

This episode first aired in April.It's exactly the one you need to hear if you buy so many items online, you feel you need to sneak them past your partner / family / housemates before they see another package arrive at the door. Even at a time of spiralling fuel prices and huge increases in the cost of living, it is possible for someone to overspend on holidays, clothes or even just the “little treats” when they can least afford it. Why? Because an abundance of credit, modern consumer culture, frictionless shopping experiences and a desire to feel control are all working in consort to part you with your money. And let’s face it, they don’t call it “retail therapy” for nothing. Had a colossally crap day at work? An online purchase might keep the dopamine going until the package arrives. Can’t afford to buy a house so why bother even trying? Let’s go to Ibiza. In this episode of Better with Money, Paige Pritchard, founder of overcomingoverspending.com explains why this thinking is a form of financial self-sabotage. But it's rarely about numbers and more about the “iceberg” beneath: mindset and emotions, shaped by beliefs about scarcity, responsibility and identity (“I’m just a spender”). Paige shares her story of racking up $40,000 worth of debt, the shame of revealing it to her loved ones, and how she's now dedicated to helping others break the cycle too. This episode is for information purposes only and does not constitute financial advice.Presented by Aideen Finnegan Hosted on Acast. See acast.com/privacy for more information.