We have all done it some point or another, spent too much money.
Here are four ways you are most likely to overspend and when it is OK to do so.
One of the most common reasons we overspend is because we think we deserve it and reward ourselves.
Another instance is when you want to avoid crowds and end up paying too much for something without comparing prices.
So, you will pay up to steer clear of people.
“You’re on a time schedule,” financial expert Victoria Wood said. “You just want to run in, get what you want and get out.”
Peer pressure gets the best of some of us.
We see what others have and we want it.
“The wants,” one shopper said. “Just wanting something that I see that looks nice.”
And have you ever bought something you thought was embarrassing and bought other items you did not need to “camouflage” it?
“You go for two things, and you end up buying ten.”
However, there is nothing wrong with cutting yourself some slack once in awhile.
“As long as you don’t wake up with that buyers remorse the next day,” Wood said.
The bottom line is make a plan before you go shopping, and stick to it.