I do most of my shopping online these days. It’s more pleasant than a crowded store, and an easy way to find great deals. Could it be… the perfect shopping experience? Well, when Team TILE sat down this week and talked about online shopping, we discovered some creepy and not-so-financially-empowered behaviors that had wormed their way into our otherwise pristine consumer lives. Have you ever purchased an item online within three minutes of learning it existed? Read on.
New ways of buying have made it easier than ever to lose touch with your spending. The Internet removed traditional barriers to shopping – when you can have literally anything delivered to your door for just the cost of shipping, it almost seems ridiculous not to, right? What’s more, you’re probably paying for all of those great finds with a credit card. But paying with plastic eliminates that important step in the transaction where you pull out your wallet and actually see what portion of your current net worth you’re about to part with. With credit cards, the hit to your checking account comes long after you’ve forgotten about that impulse buy. I am regularly shocked – shocked! – by some of the charges I find on my credit card bill each month.
The Internet has gotten smarter about getting us to part with our card numbers, too. Once upon a time, you had to actually type in the web address of an online retailer and search for the product you wanted. Today, you’ve likely received an email offering you a deal on what you wanted before you even knew you wanted it. Even better, you may have gotten an “exclusive” invitation to a private sale just for the online shopping elite like you. And like me. And like everyone we know. Oh – but there’s a catch! In order to scoop up the deals before all those other anonymous bargain-hunters, you have to be in front of your computer, card in hand, at exactly 10am. Not near a computer? Don’t worry – there’s an app for that.
Feeling manipulated yet? Here’s how competitive online shopping with a credit card undermines your ability to act like a rational human being: You see a pair of summer shoes you like for $100 off the designer’s original price. You whip out your credit card, stare at the clock on your computer until the sale starts, and then buy them, even though at checkout you see that they will take six weeks (or half the summer) to arrive. Four weeks later you pay your credit card bill, including the cost of a pair of shoes you don’t even have. Two weeks after that, you’ve forgotten all about the price and a free pair of shoes arrives in the mail.
This is not how we recommend taking control of your financial life. Conscious consumerism can mean informing yourself about the products you buy, but it can also mean keeping your rational mind turned on when your computer is. It’s not just about wasting money – it’s about losing time and losing control. So what’s the modern shopper to do? Well, like many worthwhile endeavors, this one isn’t easy. You basically have to make a conscious choice every time you’re faced with a compelling reason to hand over your credit card. But there are ways.
I took a small step by unsubscribing from most retail mailing lists, and changing other subscriptions from daily to weekly. I also started using thirtydaylist to help me sort out the things I really want from those “I NEED A FINGER TERRARIUM” impulse buys. One of our interns has separate email accounts for online shopping and personal email. Whatever you do, remember that what you do with your money reflects who you are. We hope you won’t give it away for a clever marketing gimmick.
- Lindsay