“Spaving” is the latest economics term to describe how people are spending more to “save” more, proving that marketing tactics are working brilliantly. This financial genius powermove involves falling for limited-time deals and buy-one-get-one-free offers, which leads to stockpiling unnecessary items and racking up high-interest credit card debt. The irony is palpable: trying to save a few bucks results in spending way more than intended. This can literally only happen in the United States, where consumers are too greedy to pass up a “good deal”.
Experts suggest novel ideas like unsubscribing from store newsletters, deleting shopping apps, and paying with cash to combat this phenomenon. Because who would have thought that not receiving constant sales alerts might actually curb spending? Other groundbreaking strategies include calculating the actual savings from those irresistible deals and creating “shopping hurdles” by removing saved payment methods from online stores.
For the truly enlightened, there’s the suggestion to sleep on purchase decisions for 24 hours. This might prevent those regrettable buys that seemed like a steal at 2 AM (like buying a pink snuggie for your wife who’s the last person to be caught dead wearing such a thing, but it seemed like a good idea at the time), but it turns out it’s just more clutter. Ultimately, the key to avoiding “spaving” is simple: think before you buy and resist the lure of sales that are designed to part you from your hard-earned money.
So, next time you’re tempted by a deal that seems too good to pass up, remember that saving by spending is a trap. Instead, focus on what you truly need and let your wallet breathe a sigh of relief.
Americans can’t stop ‘spaving’ — here’s how to avoid this financial trap