Sunk cost fallacy: Continuing to invest in a losing proposition because you've already put time, money, or effort into it. For example, you might keep buying lottery tickets even though you've never won, or stay in a bad relationship because you've invested so much time in it.
Confirmation bias: Seeking out information that confirms your existing beliefs and ignoring evidence that contradicts them. For example, if you're considering buying a new car, you might only look at reviews and websites that praise the car you want, and ignore any negative reviews.
Emotional spending: Making purchases based on emotions rather than logic. For example, you might buy a new dress to make yourself feel better after a bad day, even though you don't need or can't afford it.
Impulsive spending: Making quick, unplanned purchases without thinking about the consequences. For example, you might buy a new gadget on impulse, without considering whether you need it or can afford it.
Retail therapy: Using shopping as a way to cope with stress, anxiety, or boredom. For example, you might go shopping to relax or cheer yourself up, even though you don't need anything.
Social comparison: Comparing yourself to others and feeling like you need to spend money to keep up with them. For example, you might buy a new car because your friends all have nice cars, even though you can't afford it.
Scarcity principle: Feeling a sense of urgency to buy something because it's in limited supply or on sale. For example, you might buy a dress that's on sale, even though you don't need it, because you're afraid you'll miss out on the deal.
Time discounting: Placing more value on present rewards than on future rewards. For example, you might spend $100 on a night out with friends, even though you know you'll regret it later when you have to pay your rent.
