The constant flow of promotional emails to your inbox could be costing you more than you think. (via Grow_mag)
"A lot of past literature says that being in a reward-seeking mindset is associated with impatience," says Shaddy. "We found that promotions and discounts and sales is another way to trigger people's reward-seeking. You're more likely to say, 'I'd like $50 today rather than $100 in a month.'"
If you get a promotional email from a favorite store that is offering 30% off lamps, for example, it could trigger a feeling of impatience, pushing you to not only purchase a lamp but also spend extra money on expedited shipping.Franklin ShaddyThe excess spending might even continue beyond the one purchase. The researchers found that the action the email inspired, to take advantage of a promotion on lamps, could also affect how you spend your money in other parts of your life.
For example, Shaddy says, if you give someone a cookie, "they'll find the prospect of getting an hour-long massage more appealing." It can trigger reward-seeking for the reward itself or for anything that is rewarding. "That mindset itself causes people to become more present-biased and impatient," he says. "If you see a bunch of ads for discounts, it would make you less likely to put money away" for savings.There are ways to keep up with your favorite stores without being triggered to"Create a separate email account just for retailer newsletters," says consumer savings expert Andrea Woroch. This way, you can check your personal or business accounts without being tempted by sales.
If you curb how many promotional emails are sent to your inbox, you might be able to put some money back in your pocket, too.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The 17 Most Overlooked Tax BreaksTax season is never fun, but here are 17 overlooked tax breaks to save money.
Read more »
This is the cheapest time to visit Disneyland and Disney WorldDisney increased the prices of some tickets and passes for its theme parks in California and Florida.
Read more »
Want To Learn About Travel Hacking In 2020? Go To One Of These Conferences.If you want to learn how to save money on your trips in 2020 by travel hacking, you'll want to check out one of these three conferences this year.
Read more »
Why So Many Women Aren't Enjoying Sex as Much as They Could, According to ScienceThe messages about sex a woman hears as she's growing up can affect her sex life into adulthood, reports a new study.
Read more »
'Extraordinary' 5-year-old boy saves his sister, alerts family to Georgia house fireA 5-year-old Georgia boy helped save his entire family from an electrical fire that destroyed their house in Bartow County, firefighters said.
Read more »
4 easy money moves you can make in under 5 minutesSetting up autopay, updating beneficiaries on accounts, checking your credit score, and more quick and easy money moves you can make right now to stay organized and on track to meet your goals.
Read more »