Do you have this experience? You originally budgeted for $ 100 to buy clothes, but the final purchase price is likely to exceed your budget by $ 50 or more. and you even may not have realized that you spent more money.
If so, you most likely have caught the shopping trap of the Anchoring Effect. But what is the Anchoring Effect?
Take the example above of your purchase of clothing: when you walked into the store, the salesperson came over and introduced you a good-looking but probably the price of $ 500, you think it is too expensive. However, He or She may looks like know your mind, recommend another beautiful one for you immediately and this time the price is only $ 150. At this moment, you will be tempted and buy it. You are even happy because you seem to be saving money. In fact, you pay more money than your budget.
The first time you see the price of the clothes is that the salesperson give you. This price is be defined by you as an anchor price. You will think the clothes in there is as the anchor price. Then when you see the next price which is cheaper than the anchor price, you will feel it is really cheap and be tempted. The whole process of the salesperson showing you the clothes is to make you feel the Anchor Effect, so that you spend more money.
So how to help stop fooling yourself? Be aware of your mood—and your emotional tendencies. Studies have shown that when we're depressed, we're more likely to fall into the habit of anchoring. Similarly, people who tend to score high in agreeableness and openness on psychological profiles are more susceptible to being swayed.
In addition, check in with yourself to make sure that logic, not emotion, underlies your spending decisions. F3 CLUB will also bring more interesting knowledge to our members, make our members happier shopping and save more money.