Spiral into Debt Through Shopping Online
‘You are thigh highest bidder!’ It’s tag lines like this appearing in your inbox which promote unnecessary spending and debt. The novelty, excitement and thrill-of-the-chase mentality associated with shopping online can lead to a dangerous spending spiral.
Debt Rescue commented on this topic in The Cairns Sun on August 22.
Aussies spent more than $11 billion buying goods online in the 12 months to April.
For the vast majority of people, online shopping is a convenient alternative to regular shopping which poses no major threat.
However, the sad reality is it has also become a far too convenient way for people to spiral further and further into debt.
Online shopping, which desensitises the shopping experience and puts people one click away from whatever they want to buy whether they need it or not, is having a detrimental effect on many household budgets.
A danger for users of popular sites such as eBay and GraysOnline is the thrill-of-the-chase factor, where messages such as “you are the highest bidder” and “you are a winner” create an erroneous sense of self-worth.
This has become the new online extreme sport for some serial shoppers.
Hidden postage costs which can outweigh any savings made and becoming a selective target of online shopping companies due to the personal information they collect are additional reasons to be wary.