Why people spend big despite little budget during the holidays
Posted December 2, 2015 6:56 am.
This article is more than 5 years old.
VANCOUVER (NEWS 1130) – The warning is issued to shoppers every holiday season: don’t spend more than you can afford. So, why do people continue to ignore the reality of their financial situation during Christmas?
The holidays are when we’re most likely to spend beyond our means, even if we’re in debt and should be doing the opposite.
“We’re spending and over-shopping in general, hence people are feeling maybe more depressed or maybe more lonely and this time of year, in particular, tugs at our loneliness heartstrings more than ever so it’s really easy,” explains Dawn Schooler with Jericho Counselling.
She adds that it doesn’t matter how light your wallet is, spending can be like a drug addiction for some. “When I’m feeling depressed, all I want is a little hit of goodness, a little bit of lightness and that spend hits the rewards centre of my brain and I get a little lift.”
Schooler explains depression can also be compounded by Seasonal Affective Disorder at this time of year. “Make no mistake [retailers] is building out their ad campaigns to capitalize on getting us to open up our wallets even when we were not planning on doing so.”
The best defence, she explains, is to plan before you shop and to stick to a list.
