Here’s How Companies Manipulate Your Mind to Squeeze Money Out of You



Whenever you see a “special offer”, don’t just blindly buy into the hype. There’s a reason why so many shops offer these deals- they are a sure-fire way of making people spend more money than they originally intended to. Naturally, you’ll see a reduced price and think that you are saving money by buying that product. But unless you were planning on purchasing it anyway, then it’s just going to be a waste of money. Deep down, we all know this- but there are actually a whole host of sneaky tricks that companies use to get you to spend money you don’t have. These work on the deepest psychological level, so you don’t even notice them, but they can have a huge impact on your life. If you caved in every time a shop pulled one of these tricks, you would end up in some serious debt- and many people do. To help you avoid these schemes, we’ve put the following list together to unravel some of the trickiest techniques used by shops- in particular, supermarkets.
 

“Limited Time” Offers

If you see something on sale, then you might just shrug it off- after all, it will probably still be on offer the next time you’re in, right? To add some extra pressure, though, shops like to remind you that these offers won’t be around forever. Think of DFS- people joke about them always having a sale on, but the fact that they are so successful proves that this approach does deliver results. Next time you’re faced with a so-called limited time offer, think about whether or not you actually want the product in question at all- if you don’t, then there’s no point in going along with the sales pitch.

Money Back Guarantees

How many times have you seen an advert that promised your money back if you weren’t 100% satisfied with the product? Chances are, you’ve probably seen one within the last week. Companies offer these guarantees because it makes it seem like a sure-fire deal- if you want a refund, then it’s always on the table. However, no company wants to offer up freebies if they can help it. They provide these “guarantees” because they know that next to no one will actually claim on them. People are naturally pretty lazy, and many more will be too embarrassed to actually go through the complaints process for something as trivial as a tube of toothpaste or packet of crisps. That’s not to say there’s anything wrong with these products, but you certainly shouldn’t use this guarantee as a major factor in your decision-making process.

Dropping the Pound Sign in Prices

Have you noticed a trend recently in restaurants where you won’t see a single pound sign on the menu? Where something might once have been priced “£8”, there’s now just a plain old “8”. This might seem like a simple design choice, but there’s actually a cunning reason behind it. According to a study by Cornell University in America, customers spend an average of 8% more in restaurants whose menus lacked currency symbols. A pound sign keeps your subconscious grounded, and reminds you that you’re dealing with cold, hard cash. On the other hand, just a number on its own removes this subconscious trigger, and leads people to be freer with their spending. Next time you’re confronted with such a menu, make sure you keep track of just how much you’re spending.

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