I’m blogging for #NationalReadingMonth. While reading is typically an inexpensive pastime, shopping is not, yet many out there would say it’s one of their favorite hobbies. This article helps us realize why…

5 Reasons We Impulse Buy

What is it? This is a Psychology Today review of why people buy things they don’t need in too large of quantities. As the title implies, they offer five concrete reasons, from a psychological perspective, for why we just can’t resist shopping.

Why is it cool? I love the diversity of resources we use in our personal finance curriculum, and this is a great example. It’s not strictly about finance, but it fits well in a lesson on saving or on budgeting. We’ve got a lesson on buying food, which teaches students how to calculate unit price and use it for comparison, and this article would pair well with that, too.

Questions I Might Ask:

1. Comprehending the text:
   • Explain the author’s comparison of gambling and shopping.
   • In #1, the author says, “You only need to go back a couple of generations to understand why this was an understandable sentiment.” What is he referring to? How are things different, now?
   • What are some ways that stores strategically market to encourage us to buy more?
   • In your own words, explain the evolutionary drive humans have toward saving.
2. Making connections:
   • Discuss a time when you’ve bought something you didn’t need. Why did you buy it? When did you realize it was an irrational purchase?
   • Do you think the tendency to buy things you don’t need is universal? Are some groups more susceptible to it than others?

Where is it in the NGPF collection? This is resource 8 in “Saving Basics” in our Savings unit.

About the Author

Jessica Endlich

When I started working at Next Gen Personal Finance, it's as though my undergraduate degree in finance, followed by ten years as an educator in an NYC public high school, suddenly all made sense.