Alicia Nelson-Bell, Empowering Financial Wellness Program Coordinator
Are rising prices bringing your anxiety and fears up with them? Are you experiencing a sense of scarcity and uncertainty about your finances? These feelings can cause people to panic-buy. Panic buying is essentially buying irrational or excessive amounts of goods. People trying to cope with stress and anxiety want to feel like they are in control of something amidst the many things they can’t control. Making household preparations is totally rational and is highly recommended. Anxiously buying in excess, out of a fear, with no plan can really wreak havoc on your budget. Let’s take a look at what causes panic buying and some solutions to combat it.
Main reasons for panic buying:
Tips to combat panic buying:
Now that you know the main reasons for panic buying, here are five tips to help you combat this issue and avoid adding extra financial stress to your situation.
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