The Big Questions

Could this explain why I spend so much money at happy hour every Friday? A depressed mood from a week of graduate school causes me to spend a lot of money on alcohol?

Haha... Funny but I don't think it applies. You see HAPPY HOUR in reality means cheap BEER and appetizers. You'd be spending less $$$. I guess if you passed up the HAPPY HOUR and binged during prime time maybe then this might apply. But I do like your thinking. :)

Do I have it right Nathan?

Well, I was going to say that it the inability to not drink at happy hour is something self-regulation theory would have a stronghold on describing(limiting/inhibiting self = eventual deficit in ability to doing so).

But, maybe depressed moods decrease self-regulation in certain cases? Oh Baumeister....(oh who am I kidding. I am sure his army, I mean grad students, are on that already).

Joey: You seem to basically have it correct. It'd be really like if you were sort of late to happy hour and in a crap mood, so you decide to stay into "primetime"---as you say--- and keep drinking despite the cost of the alcohol (and the wings!).

What I didn't get into is that when in a sad mood, according to Cryder especially, it increases the value of the item for you, so it isn't just that you are sad and now suck at making choices.

I wonder if being hindered from buying something when you are in a bad mood has some effects. So if your poor, and you feel bad, you can't buy that shirt or you can't pay rent. Over time, maybe that causes all sorts of problems.

haha its the opposite for me. when im in a bad mood, i hog all my money and dont want to pay for crap.
when im in a good mood i wanna buy anything that ive always wanted. haha.
so i guess i better stay in a bad mood and ill have more to spend when im in a good mood :)

It's the opposite for me too! When I'm happy I want to spend,spend,spend! When I'm down I go into seclusion and buying things just don't make me happy.

Hmm.

Basically, these studies conclude that people will spend more for an item when they are in a sad mood. So if you are going to buy a shirt, you are willing to pay say, $30, instead of $15.

This isn't quite ths same thing as how much money you will spend overall. So maybe certain people shop less or buy less things when in a bad mood. But, when they do pull the trigger on a purchase they will spend more for it.

Nathan

I can totally see that when someone is bummed and they look at something they want, they rationalize the price by saying that they deserve it. Also, if someone watches a sad movie where someone dies, they have a whole new rationalization! Life is short, you never know how long you have - so if it makes you feel good, buy it. As for you Henry, BE HAPPY and buy ME stuff!

I must admit shopping is the first thing I want to do when my husband and I fight. When I am down the mall is my "pick me up". Sometimes, I think I spend more money on an item just to spite my husband.... I know I am an evil wife :). The question is what do people do who have NO money to spend. What do they turn to?

So this study definitely applies to me. My bad mood results in super spending but only on food. Dangerous habit I know, but greasy food makes me happy. And then the next day I wake up and I know I've spent sooooo much money but I have nothing to show for it except a napkin from Applebees.......and then I'm sad again. A destructive cycle.

Madalyn:

Interesting point about death. Research I didn't discuss (from a theory called terror management) clearly shows that the salience of death increases people's spending. I wonder if these mood studies ever have used sad mood inducers that aren't death related. If not, maybe it is death salience then and not sad mood (at least partially). Although death salience would only increase spending for things that are a part of the culture if TMT is right.

Eunique:
I think, unfortunately, every mood results in me overspending on food-:) But hey, at least it is a greasy applebee's napkin. Could do a lot worse than that.

I wish I would have known this earlier.... whew... I'd be a millionaire... I guess that is why i always love a good fight.

ALSO, If you are happy you can save ALOT of money on psychologist.

-:)

For interested readers, here's a bit more on the theory behind these effects:
http://blogs.psychologytoday.com/blog/brainstorm/200802/retail-therapy-e...

I had no idea you had such a similar blog entry.

Thanks for the comment.

The irony here is that this post had way fewer hits than my others until the pic became on the front page when googling "money" in images. Wish I knew how that happened!

Nathan