Discover expert insights on conscious consumerism this holiday season. Learn how to make mindful spending choices that align with your values and avoid financial stress. File photo.
As the December holidays and festive season approaches, spending tends to increase dramatically. Some may have year-end bonuses to cushion the blow of this high-cost period, but conscious consumerism strategies can help everyone stay within budget. By being more mindful of our spending habits, we can avoid starting the new year with financial stress caused by overspending.
The festive season often comes with heightened socialising and much more spending on food, drinks, outings, and experiences like concerts or live events. We may also find ourselves caught up in the joy of gift-giving, which, while heartwarming, can lead to excessive and wasteful spending.
At a recent SACAP (South African College of Applied Psychology) webinar on conscious consumerism, leadership development coach, Michaela Mahes highlighted how unpredictable consumer behaviour often stems from powerful external stimuli. “People pay to feel special and significant,” she explained. “We don’t always purchase out of necessity but because we perceive that the item will improve how we feel or how we are perceived by others.”
The psychology behind spending
Mahes pointed out that understanding the deeper motivations behind our purchases is key to practicing conscious consumerism. She advised asking yourself: How will buying this make me feel?
She said: “Purchases might make us feel more accepted by others, elevate our status, or align with our values. By questioning these motivations, we can make choices that truly bring satisfaction and avoid those that undermine our financial well-being.”
Beyond advertising: social influences on consumerism
Hilary Davies, a social psychologist and executive coach, explained that consumer choices are influenced by more than advertising. “Cultural norms, group belonging, and life stages shape our spending habits,” she said. “Our social and personal identities play significant roles in what we choose to buy.”
Davies outlined two aspects of identity:
Davies emphasised that even basic purchases, like food, are shaped by social and cultural factors. “Food choices reflect much more than meeting our basic survival needs. They are tied to culture, upbringing, convenience, and trends, such as health, dieting, or sustainability. Recognising these influences can guide more intentional decisions.”
Coaching questions for conscious consumers
She concluded, “Conscious consumerism isn’t about right or wrong purchases. It’s about intentionality and understanding what’s driving your decisions on a deeper level. Question the motivations behind your spending to make meaningful, satisfying purchases. Understand the social and cultural factors influencing your decisions. And use intentional strategies to align your spending with your values and avoid financial strain. By approaching the holiday season with mindfulness, we can enjoy it to the full while maintaining financial and emotional well-being.”
PERSONAL FINANCE