Overcome Impulsive Shopping: Strategies to Resist Social Media Spending
from NerdWallet's Smart Money Podcast
by NerdWallet Personal Finance
Published: Thu Jun 06 2024
Show Notes
Understand the urge to spend money while scrolling on social media and learn strategies to control impulsive purchases.
How does social media influence spending habits?
What are practical strategies to spend less money while scrolling?
Hosts Sean Pyles and Amanda Barroso discuss the psychological tricks of social media and emotional spending to help you understand the subconscious factors that drive your online purchases. Amanda interviews Jillian Knight, a licensed marriage and family therapist and founder of the financial planning firm Her Financial Therapy, about the cycle of shame in impulsive buying, the importance of awareness before and during online activity, and practical tips like removing stored credit card information to prevent automatic purchases.
Then, Amanda talks to Dr. Brian Boxer Wachler, a medical director at the Cedars-Sinai Medical Center in Beverly Hills, about the addictive nature of social media. They discuss the dopamine-driven compulsion to scroll, setting app time limits, and engaging in alternative activities that boost dopamine in healthier ways.
Both guests offer insights on how to break the cycle of impulse buying, overcome social media addiction and maintain healthier spending habits, with strategies for recognizing emotional triggers, intentionally disconnecting from social media and finding joy in non-digital activities.
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In their conversation, the Nerds discuss: social media spending habits, emotional spending, impulse buying, social media addiction, financial strain, dopamine and spending, social media and shopping, influencer marketing, targeted advertising, visibility bias, breaking spending habits, online shopping addiction, managing finances, financial therapy, coping mechanisms, digital well-being, financial planning, saving money, consumer behavior, credit card debt, shopping habits, financial stress, mindful spending, psychological tricks, social media traps, one-click purchasing, spending triggers, social media algorithms, dopamine-boosting activities, financial health, impulse purchase prevention, shopping addiction, emotional buying, app time limits, relationship tensions, financial wellbeing, and online consumerism.
To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com.
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