How to bag better BARGAINS

The no-regrets guide to saving money

- AMBER BRAMBLE

Everyone loves a bargain, but in the rush of trying to snap up a great deal we can make some pretty swift decisions.

Most of us know the sinking feeling that comes when we realise we’re already over an outfit before we’ve taken it out of the bag. Research by AAMI says that 96 per cent of Aussies are familiar with bargain regret – and it costs an average of around $4000 a year.

Financial expert Nicole Pedersen-McKinnon says the current cost of living has enhanced our thirst for a better deal. “The hip pocket pain is acute around the country, and we’re seeing people adopt this bargain-seeking mentality, which makes perfect sense. They’re not necessarily spending less, but they’re looking for that advantage.”

If you know where to look, there are genuine savings to be made – but beware the pitfalls. “The goal of marketing is extracting your money and getting people to purchase,” psychologist Sandy Rea says. “So the way to rebut that is to have your own safeguards in place.”

THE SCIENCE OF SPENDING

As much as we enjoy bringing home nice things, science says that isn’t the only reason why we love shopping. The very act of purchasing something can also deliver a heady thrill, regardless of whether it’s something you ultimately want or need.

“What the research is telling us is that we get a dopamine effect,” Rea explains. “Dopamine is a hormone that is also associated with thrill-seeking and sex, so it’s very rewarding.”