It\u2019s that time of year when retailers seem to join forces to plant a message in shoppers\u2019 minds: \u201cBuy Stuff on Black Friday, or You Are a Fool.\u201d<\/p>\n<\/div>\n<\/div>\n

They transmit this message in loud TV commercials, targeted social media ads, and promotional emails you don\u2019t remember subscribing to.<\/p>\n<\/div>\n<\/div>\n

But you are no fool. And you \u2014 not retailers \u2014 get to decide what to buy and when.<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n

IT\u2019S EASY TO OVERSPEND DURING THE HOLIDAYS<\/p>\n<\/div>\n<\/div>\n

Feeling compelled to spend money right now is normal. Who doesn\u2019t want to be like the advertisements\u2019 grinning models, with an armful of gifts?<\/p>\n<\/div>\n<\/div>\n

\u201cThis time of year, there is a lot of pressure to consume happiness \u2014 to show your love through products,\u201d says Christine Whelan, a clinical professor in the department of consumer science at the University of Wisconsin-Madison.<\/p>\n<\/div>\n<\/div>\n

Retailers want you to fold under that pressure. They make most of their money around this time, Whelan says, during their \u201cend-of-year push to sell products.\u201d<\/p>\n

You may face other pressures, too. \u201cThis year we have almost a perfect storm when it comes to spending,\u201d she says. \u201cWe have fears of scarcity, we have inflation, and we have this yearning to celebrate in a more normal way than we did last year.\u201d<\/p>\n<\/div>\n<\/div>\n

As that storm brews toss in feelings of guilt. That\u2019s a common emotion around the holidays and can lead to overspending, says Alex Melkumian, a licensed marriage and family therapist and founder of the Financial Psychology Center in Los Angeles.<\/p>\n<\/div>\n<\/div>\n

Say that, once again, you can\u2019t gather with family, or you can\u2019t afford those gifts your kid wants.<\/p>\n<\/div>\n<\/div>\n

Or maybe you don\u2019t feel guilty so much \u2014 just bad for any number of reasons related or not to the pandemic and loaded holiday season. It can be easy to spend emotionally, rather than logically, in hopes of feeling better.<\/p>\n

Often, Melkumian says: \u201cInstead of feeling uncomfortable, we\u2019d rather just patch it up with a Band-Aid of buying a little something for ourselves.\u201d<\/p>\n<\/div>\n<\/div>\n

MAKE A PLAN AND SET RULES<\/p>\n<\/div>\n<\/div>\n

So, for various reasons, you may be primed to overshop on\u00a0Black Friday<\/a>. With that in mind, try to remember that \u201cbargain hunting\u201d can often lead to buying more stuff than you need, says Ryan Sterling, founder of Future You Wealth, a New York-based investment firm. He\u2019s also the author of \u201cYou\u2019re Making Other People Rich: Save, Invest, and Spend with Intention.\u201d<\/p>\n<\/div>\n<\/div>\n

Plus, the fact that your favorite store is promoting 40% off doesn\u2019t change the amount in your bank account. So aim to shop with intention, rather than in response to promotions.<\/p>\n<\/div>\n<\/div>\n

Whelan recommends reviewing your finances to determine how much you can spend on holiday shopping. Create a list of gift recipients, too. With this information, you\u2019ll get an idea of how much to spend on each person. (And if you plan to buy yourself something, add your name to the list.)<\/p>\n

As you\u2019re planning, set a few rules. Otherwise, it\u2019s too easy to spot something you want and impulsively buy it. You already have one rule to guide you: Stick to the list. Yes, you may see the perfect item on sale for your aunt. But if she isn\u2019t on your list, or if she is and you already bought her something, move along.<\/p>\n<\/div>\n<\/div>\n

Rules that add \u201cspeed bumps\u201d between shopping impulses and reactions are also helpful, Sterling says. For example, maybe you step away from potential purchases for at least an hour, if not a day, before deciding whether or not to buy.<\/p>\n<\/div>\n<\/div>\n

Without giving yourself boundaries, you may do exactly what retailers want \u2014 see their product and impulsively buy it. They certainly don\u2019t want you to pause first.<\/p>\n<\/div>\n<\/div>\n

GIVE OTHER TYPES OF GIFTS<\/p>\n<\/div>\n<\/div>\n

As you take control of your spending, rethink gift-giving.<\/p>\n<\/div>\n<\/div>\n

Melkumian recommends asking yourself: \u201cWhat can I bring to the table? Is it only money, and is it only materialistic? Or can I be creative?\u201d<\/p>\n<\/div>\n<\/div>\n

\u201cCreative\u201d can mean a few things, but before changing your approach, loop in your family or whoever you typically buy gifts for. Decide, together, how to handle gifts.<\/p>\n<\/div>\n<\/div>\n

Perhaps you agree to a spending cap, or to a gift exchange, rather than having everyone buy something for everybody else. Your loved ones may be grateful for a new approach so they, too, can spend less. (They may also be happy to receive fewer things.)<\/p>\n<\/div>\n<\/div>\n

Another way to buck the buy-everything-for-everyone tradition could be to give only homemade or experiential gifts. Whelan likes to combine the two with homemade gift certificates that could include, for example, a night of babysitting or dog-sitting.<\/p>\n

Giving services rather than material gifts doesn\u2019t just save us money, she says. \u201cThey are a way of encouraging social connection and building relationships.\u201d<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

It\u2019s that time of year when retailers seem to join forces to plant a message in shoppers\u2019 minds: \u201cBuy Stuff on Black Friday, or You Are a Fool.\u201d They transmit this message in loud TV commercials, targeted social media ads, and promotional emails you don\u2019t remember subscribing to. But you are no fool. And you […]<\/p>\n","protected":false},"author":21,"featured_media":1662,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","wds_primary_category":0,"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-1660","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-media","8":"entry"},"jetpack_featured_media_url":"https:\/\/financialpsychologycenter.com\/wp-content\/uploads\/2021\/11\/wp-post-image.jpg","_links":{"self":[{"href":"https:\/\/financialpsychologycenter.com\/wp-json\/wp\/v2\/posts\/1660","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/financialpsychologycenter.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/financialpsychologycenter.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/financialpsychologycenter.com\/wp-json\/wp\/v2\/users\/21"}],"replies":[{"embeddable":true,"href":"https:\/\/financialpsychologycenter.com\/wp-json\/wp\/v2\/comments?post=1660"}],"version-history":[{"count":2,"href":"https:\/\/financialpsychologycenter.com\/wp-json\/wp\/v2\/posts\/1660\/revisions"}],"predecessor-version":[{"id":1670,"href":"https:\/\/financialpsychologycenter.com\/wp-json\/wp\/v2\/posts\/1660\/revisions\/1670"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/financialpsychologycenter.com\/wp-json\/wp\/v2\/media\/1662"}],"wp:attachment":[{"href":"https:\/\/financialpsychologycenter.com\/wp-json\/wp\/v2\/media?parent=1660"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/financialpsychologycenter.com\/wp-json\/wp\/v2\/categories?post=1660"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/financialpsychologycenter.com\/wp-json\/wp\/v2\/tags?post=1660"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}