Your "Spaving" Habit Is Probably Messing With Your Money Goals

If you spot a great deal at the grocery store or a hot item on sale on Amazon Prime Day, it makes sense to throw it in your cart, right? When something is majorly discounted, it’s tempting to snag it in an effort to save. This is called “spaving” — or spending to save — and it’s a hot topic on TikTok.

While spaving makes sense in the moment, it’s actually a sneaky tactic many retailers use to encourage you to buy more than you mean to, says Carrie Joy Grimes, the CEO and founder of the nonprofit WorkMoney. “Spaving often increases unplanned spending and credit card debt,” she tells Bustle. “At its worst, it can also be financial self-sabotage masquerading as smart shopping.”

One of the most tempting places to spave is when shopping online. Many sites encourage you to “spend $25 more” to get free shipping, when shipping itself only costs $8.99. Even though you’re actually doling out more money — and potentially buying items you don’t actually want or need — it somehow still feels like you’re saving.

“Some other examples: spending above a certain amount to get a ‘free’ gift, Buy One Get One free, buying extra items to use a coupon or discount code, subscribing to a service to qualify for a discount, and buying in bulk to ‘save’ when you don’t need more,” says Grimes. Once you know what spaving is, you start to see it everywhere.

Why “Spaving” Is So Tempting

On TikTok, creator @401ok, who said she’s fallen for spaving, offered the example of going into a store and seeing a pair of jeans that are usually $100 on sale for $30. If you buy those jeans, it feels like you saved $70. But unless you were specifically shopping for jeans, what you actually did was waste $30.

According to Grimes, this is the problem with spaving. “It’s only when we look closely at it that we can see a concept so oxymoronic it puts even ‘Jumbo Shrimp’ to shame,” she says. If you have to spend money to get a deal, are you actually saving? Grimes say no.

“Spaving relies on an advertising idea called ‘loss aversion,’ which is fancy language for FOMO,” she says. “We hate the idea of losing something we have, or losing out on something we could have. When we feel that way, we’ll do a lot we shouldn’t to avoid feeling that loss.”

It also makes it tempting to pick up items that you might need in the future. If giant boxes of cereal are on sale and you put three in your cart, it can feel like you’re being a savvy shopper, especially since you’re coming home with an armload of groceries. In reality, you’re spaving, and it can truly break your budget.

How To Tell The Difference

To figure out if something is actually a good deal — or just sneaky spaving — check in with yourself before whipping out your credit card. If the item that’s for sale aligns with a planned purchase or a real need, Grimes says it might be a good idea to pick it up while it’s discounted.

You’ll know something’s just a marketing gimmick, however, if it wasn’t on your radar at all prior to the sale.

“If suddenly, while scrolling instagram, you think, ‘You know, maybe I do need a new straw tote for the beach that says ‘Life’s a Beach,’ maybe pause for 72 hours and reconsider,” she says. “Another big red flag is if the sale uses urgency or scarcity language — phrases like ‘Only 2 Left!’ or ‘Flash Sale!’ or ‘24 hours ONLY!’” That’s a sign the store is engaging your FOMO.

How To Stop Spaving

Sometimes spaving makes sense. Other times it works and you end up spending money you didn’t mean to, and that’s OK. To avoid it more often in the future, Grimes recommends following a 72-hour rule.

“I don’t buy anything for 72 hours after I see it,” she says. “No matter the sale deadline, no matter anything — if I wasn’t planning to buy it, I don’t buy it.” It also helps to create a seasonal budget or list of things you might want to buy. That way you can keep your eyes peeled for those items, and avoid other things that pop up along the way.

It can also be fun to play a game with yourself as you encounter spaving, whether online or in an actual store. “Sometimes I feel like I passed a test,” says Grimes. “I say to myself, ‘Your retailer tricks won’t work on me!’ and give myself a high-five for not handing my money over to someone who isn’t thinking about my best interests.”

Source:

Carrie Joy Grimes, CEO, founder of the nonprofit WorkMoney