The psychology of Impulse Spending
How often do you walk into a store for bread and milk… and walk out with a gold-plated wristwatch, a new polo shirt you didn’t plan for, a body spray that just smelled so nice, and somehow… no bread?
Or maybe your version plays out online. You log into Jumia just to check the price of a blender and, two hours later, you’ve bought a jewellery set, a ring light (you don’t make videos), and three pairs of shoes because delivery was free if you spent up to ₦20,000.
It’s not just you. It’s all of us. And it’s not simply bad financial discipline; there’s a whole science behind it. Psychologists, neuroscientists, and marketers have spent decades studying why we buy things we don’t need, and the answer is part biology, part emotion, and part very clever marketing.
The question is, once we understand the psychology of spending, can we really outsmart it?
To answer this, let’s put things into context.
What Is Impulse Buying?
Impulse buying is when you make an unplanned purchase, often triggered by emotions or external cues, without much thought. You didn’t need the item. You didn’t even plan for it. But something about it, maybe a sale sign, a smell, a memory, or a momentary mood, made you say, “Why not?”
And it’s not always about expensive, life-changing splurges like a new phone or a designer handbag. In fact, most impulse buying happens in the small stuff — the things that seem harmless at the time. That ₦4,500 cupcake stand you spotted on sale even though you don’t bake. The imported chocolates you picked up “for the weekend” but finished before you got home. The limited edition perfume you bought because the store assistant said it would be gone by tomorrow.
Individually, these purchases don’t seem dangerous. But over weeks and months, they add up in ways that can quietly sabotage your finances. It’s often only when you check your bank balance or get your credit card bill that you realise just how many little extras have been draining your account.
Understanding why we make these purchases is the first step in learning to control them. And to do that, we have to step inside the psychology of spending.
Why We Buy What We Don’t Need
1. The Emotional High
At the base of impulse spending is one very human truth: we buy feelings, not products. Psychologists have long known that retail therapy is real. Buying something new triggers the release of dopamine, the brain’s feel-good chemical.
The effect is immediate and satisfying. If you’ve had a rough day, walking into a store and buying something shiny feels like a tiny personal win. On the flip side, if your day was amazing, you’re just as likely to reward yourself with a purchase.
In both cases, the transaction isn’t really about the object you’re buying. It’s about the emotion attached to it: comfort, validation, joy, distraction.The emotional high was the real goal. The product was just the delivery system.
2. The Scarcity Effect
“Only 2 left in stock!” or “Sale ends at midnight!” — these phrases are not harmless reminders; they’re psychological pressure points. Humans hate missing out. Our ancestors survived by acting quickly when resources were scarce. Today, brands tap into that same instinct to make you click the buy button before you even think twice.
3. Social Proof & Influence
We’re social creatures, and we take cues from others, especially people we admire, trust, or aspire to be like. This is called social proof, and it’s a subtle but powerful driver of impulse buying.
If your favourite influencer posts a glowing review of a skincare brand, you might find yourself adding it to your cart just to try it. If your friends are all buying the same sneakers, you suddenly feel like you need them too, even if you barely wear sneakers.
It’s not always about the item itself. Often, the purchase is about belonging. It’s about feeling part of a group, fitting into a certain lifestyle, or keeping up with a social standard.
4. The Dopamine Anticipation Loop
The real rush of shopping comes before you even own the item. Dopamine spikes in anticipation — when you spot it, add it to your cart, track the delivery, and imagine how it’ll change your life. But once it arrives, the excitement fades fast. Your brain remembers the thrill of anticipation, not ownership, which keeps you chasing the next “add to cart” high in an endless loop.
5. Marketing Psychology
Everything from the music in a store to the colour of a Buy Now button is designed to make you spend. Brands know if they put fresh bread at the back of the store, you’ll pass 12 aisles of temptation first. They know ₦9,999 feels cheaper than ₦10,000. They’re not guessing; there’s a science to this.
Even in informal settings, these tactics work. Street vendors know to hold up their products at eye level or position them where the sun catches their colours just right. That’s why a gala, cold Coke, or plantain chips can suddenly feel irresistible while you’re stuck in traffic.
The Hidden Costs of Impulse Spending
Opportunity Cost – Every impulse buy steals from something else. That ₦15,000 spent on treats could have been part of a debt repayment, an investment, or an experience you’ll treasure for years. You’re not just buying an item; you’re trading away what that money could have done.
The Wallet Drain – Those ₦5,000 small buys add up shockingly fast. Buy them three times a week for a year, and that could be just how much you need to go on a vacation somewhere. It’s not always the big splurges that hurt your finances; it’s the steady leak from these little indulgences.
Mental Clutter – Every new item needs space, cleaning, and occasional fixing. Soon, your home becomes a storage unit for things you don’t use, and your mind carries the subtle weight of managing it all. Too much stuff doesn’t just take up physical room, it drains mental energy.
How to Outsmart Your Spending Triggers
Impulse buying isn’t about turning into a cold, joyless spreadsheet — it’s about spotting the pull before it sweeps you away.
1. The 24-Hour Rule
If it’s not urgent or essential, wait 24 hours before buying. That must-have item often loses its sparkle once the initial rush fades. You’ll be amazed at how many things you forget about entirely after a day.
2. Know Your Emotional Triggers
Do you shop when you’re stressed, bored, lonely, or celebrating? Be honest with yourself. When the urge hits, try meeting that emotional need in a different way — call a friend, take a walk, or cook your favourite meal.
3. Budget for Fun
Total denial backfires. When you forbid yourself from every indulgence, you risk one massive rebound splurge. Instead, create a “treat fund” — a fixed amount you can spend guilt-free each month. This way, you scratch the itch without blowing your budget.
4. Reduce Exposure
If you never see the temptation, you won’t crave it. Unsubscribe from retail emails, mute influencers who trigger your FOMO (Fear of Missing Out), and make an effort to stop browsing online stores. Out of sight, out of cart.
5. Practice Mindful Shopping
Before buying, ask yourself:
- Do I really need this?
- Will I still want it in a month?
- Is it worth the hours I worked to earn this money?
Sometimes reframing the cost in terms of your time makes the decision much clearer.
Shifting the Mindset
The real shift comes when you stop seeing money as a way to keep score and start seeing it as a tool for building the life you want. That’s when you begin to choose value over volume. You stop buying for the quick dopamine hit and start buying for long-term joy and purpose.
Impulse control isn’t about deprivation; it’s about replacement. Swap short-lived thrills for long-term wins. The joy of hitting a savings target, finally paying off a debt, or funding a trip you’ve dreamed of will outlast any Friday-night splurge.
After all is said and done, you may never fully outgrow the temptation to spend on a whim; it’s part of being human. But what you can do is learn to slow the moment down. Give yourself the space to think before your wallet acts.
Next time you feel that I need this now rush, remember it’s not always you talking. Sometimes it’s your emotions, your brain chemistry, or a clever marketer whispering in your ear. And the best purchase you can ever make? Control over your own spending habits.
Because nothing, no impulse gadget, no flash sale, is more satisfying than knowing you’re in charge of your money, not the other way around.
