10 Times You’re Most Likely to Waste Money — and Regret It Later

Americans aren’t great at saving — and it’s not just about low wages or bad luck. According to data from the Federal Reserve, nearly 40% of adults wouldn’t be able to cover a $400 emergency with cash. Meanwhile, credit card debt hit a record high of over $1 trillion in 2023, as inflation continues to squeeze everything from rent to groceries. 

And yet, we keep spending. Sometimes out of necessity, sure — but a lot of the time, out of emotion. It’s not always rational. It’s not always pretty. But it’s very human. 

So if you’ve ever looked at your bank account and thought, Why did I buy that? — there’s probably a mood behind it.  

Here are 10 times you’re most likely to waste money — and regret it later: 

Shop on an empty stomach, and you might end up with a cart full of junk you don’t need or want — like binder clips and Bluetooth speakers. Hunger flips your brain into survival mode, weakens impulse control, and cranks up your brain’s craving for anything that feels like a reward.  

Researchers found that “our thoughts originate in hunger and food, but once those thoughts are in our minds, they end up guiding our decisions in the nonfood domain. 

An experiment showed that hungry shoppers bought more nonfood items than full ones, even after controlling for mood and time spent shopping. So eat a granola bar before hitting the mall.  

Every now and then, after a long day of work, errands, and being a functioning human, a shopping spree — online or not — feels like a well-earned treat. But the problem is that your brain, at that point, is running on fumes, and it's destined to make bad money decisions. 

A 2016 study found that fatigue actually disrupts the brain’s reward system and decision-making process, leading to riskier economic choices and weaker self-control. In other words, when you're mentally drained, your ability to think clearly about spending drops — even if your credit limit doesn’t. The study showed that participants who had just completed difficult mental tasks were likelier to make impulse purchases than those who hadn’t.  

Fatigue makes you more likely to go with whatever feels good in the moment — even if it's overpriced, unnecessary, or destined to live in a drawer forever. 

There’s bored, and then there’s “add-to-cart” bored. You’re not looking for something — you’re looking for something to do. According to a LendingTree 2023 survey on emotional spending, 37% of Americans shop just to kill time. During the pandemic lockdowns, that number surged — 43% admitted to “comfort buying” to cope with boredom or stress. I know I did (looking at you, pasta maker). 

The behavior comes from our tendency to seek stimulation or a sense of control when we feel disengaged. In a moment of boredom, clicking “Buy Now” creates a quick sense of purpose and triggers a hit of dopamine, the neurotransmitter tied to pleasure and motivation. A decision, a reward, and something to look forward to in the mail. 

Rom-coms taught us to cry in a cab, then buy stilettos. Real life teaches us that you’ll just end up broke, blistered, and still sad. 

Retail therapy can give you a short-term mood boost — Cleveland Clinic says making purchase decisions helps people feel in control during emotional lows. And a survey found that 62% of Americans say they’ve shopped to feel better. 

But if your sadness comes from rejection, like bombing a project or getting passed over for a promotion, buying something to “reclaim your power” can backfire. A 2015 study in the Journal of Consumer Research found that people often respond to failure by making symbolic purchases, like buying an expensive watch after losing out on a raise. But instead of cheering you up, those “consolation buys” become emotional landmines. They remind you of what went wrong, tank your self-control, and make it even harder to focus or bounce back. 

Emotional spending doesn’t just happen when you’re feeling blue. Sometimes, you’re flying high — new job, good news, Friday at 5 p.m. — and there goes your credit card, doing cartwheels. 

According to the aforementioned LendingTree survey on emotional spending, 44% of Americans admit excitement tempts them to overspend, and 38% say they spend more when they’re simply happy. When you're in a good mood, your brain's impulse control drops. Feeling good lowers your guard. You’re in reward mode. The drinks are on you, and that wildly overpriced item in your cart feels like a harmless celebration. You're less likely to weigh pros and cons and more likely to say, “Screw it, I deserve this.” But when that dopamine rush fades, you’re left with financial anxiety. And regret. 

Alcohol and online shopping are a dangerous cocktail. That first glass of wine lowers your guard. By the third, you're tracking a mystery package you don’t even remember ordering. 

When you're drinking, your impulse control tanks. According to a 2022 survey, about 17% of Americans admit to shopping while tipsy — racking up a collective $14 billion a year in drunk purchases. It’s not just silly stuff, either. People buy clothes, tech, even vacations — all while their judgment is taking a little nap. 

You might think you're being spontaneous or fun, but drunk-you doesn’t care about your budget. Sober-you will. So before you let tequila turn into a toaster oven, maybe set some app limits … or at least hide your credit card. 

Nothing lights up your brain like a red banner screaming “Only 2 Left!,” convincing you that if you don’t buy it now, your entire existence will be worse for it. 

FOMO — the fear of missing out — is a classic marketing trick. Limited-time offers, flash sales, countdown timers, and low-stock warnings all work by hijacking your decision-making. And it works: 70% of consumers say they’ve made impulsive purchases just because something was on sale. 

That “deal” ends up gathering dust while you convince yourself it was a smart move because it was half off.  

Not all emotional spending comes from sadness or celebration. Sometimes, it’s a reaction to feeling deprived — of time, freedom, opportunity, or just plain joy. This is revenge spending. You missed out on something — a trip, a milestone, a life event — and now you’re trying to make up for it with your wallet. Psychologists call it emotional compensation: when your ego takes a hit, your wallet steps in to soothe it. After a setback, you’re more likely to make a big, symbolic purchase to feel back in control. Post-pandemic, this behavior exploded, as people tried to buy back the time, joy, or freedom they felt was taken from them. 

We all remember spring 2020. One minute we were living our lives, the next we were panic-raiding the supermarket. And never mind the deadly virus — the collective fear was running out of toilet paper. Because if the world was going to end, at least we wanted to go out with clean behinds. 

Panic buying knows no logic. Studies have shown that panic buying is linked to our intolerance of uncertainty and perceived scarcity. When we're anxious, we seek control, and filling our carts gives us that illusion. It's a coping mechanism, albeit one that leaves us with a surplus of canned beans and a deficit in our bank accounts. 

Anytime we have one of those “everyone else is doing better than me” days, we end up buying ego boosting stuff. Insecurity-fueled spending isn’t really about the thing you’re buying — it’s about proving something. To your ex. To your coworkers. To the internet. It’s the handbag you cannot afford, the sports car or whatever that shows you're thriving, even if your bank account says otherwise. 

Psychologists call this compensatory consumption — spending to fill a self-esteem gap. One study found that people are more likely to buy status-symbol products when they feel socially excluded or not good enough. Basically: the more doubt you feel, the louder your cart gets.  

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