You ever check your bank account and wonder, “Dang, where did all my money go?” You didn’t buy anything huge, just some matcha here, a hoodie there, a random Amazon order at midnight. But somehow, it adds up fast. That’s not just bad budgeting, it’s psychology at work. Let’s break down why we spend money on things we don’t really need, and how to start being more intentional with it.

Emotional Spending: Buying Feelings and not Things

Money isn’t just about math, it’s about emotion. When we are feeling any form of emotion, like gifts for loved ones when we’re happy or having “retail therapy” when we’re sad. Spending gives us a dopamine hit, a rewarding feeling. That new purchase feels good, even if the feeling fades fast.

Example: You’ve had a long week of classes, so you reward yourself with takeout and a new pair of sneakers. You feel better… until you see your balance drop.

The Fix: Before buying, ask: “Am I buying this because I need it, or because I want to feel better?”

Social Pressure: The “Everyone Has It Effect”

We live in a world where everyone’s highlight reel is online. It’s easy to feel like you’re missing out if you don’t have what your friends or favorite influencers have.

• Example: You see someone on TikTok with the newest iPhone, sneakers, or designer bag, and suddenly your perfectly fine version feels outdated.
• The Fix: Remember, social media shows the best moments, not the full story. Focus on your goals, not their image.

The Convenience Trap: Spending Made Easy

Spending has never been easier. You can tap your phone, click “Buy Now,” and boom, it’s on the way. Apps and stores are designed to make us spend without thinking.

• Example: Amazon’s “1-click purchase” and DoorDash’s “reorder” button make spending frictionless, but in reality that’s the point.
• The Fix: Add friction back. Delete saved cards or keep a “24-hour rule” where you wait one day before making a non-essential purchase.

The Reward Mindset: “I Deserve This”

As students, we work hard with classes, jobs, studying, so we convince ourselves we deserve to splurge. Sometimes, that’s fine. But when it becomes a habit, it eats into long-term goals.

• Example: Treating yourself after every small accomplishment adds up to hundreds of dollars a month.
• The Fix: Redefine rewards and celebrate by saving toward something bigger, like a trip, investment, or future goal.

The Student Angle: Controlling Your Spending Habit

You don’t need to cut out every little joy because that’s not realistic. Instead:

1. Track your triggers. Notice when and why you spend impulsively.
2. Budget for fun. Give yourself a “fun money” limit so you can enjoy life guilt-free.
3. Tie spending to purpose. Ask, “Will I still be happy with this in a week?”

We don’t just buy things; we buy emotions, identity, and convenience. Once you understand why you spend, you can start controlling it instead of letting it control you.

Thank you for reading! Feel free to share your own tips or experiences in the comments. Subscribe for more content and ride the wealth wave!