Answer: $450

Questions:

• Reflect on your spending over the past month.
• Did you have any impulse purchases? What were they?
• If no impulse purchases, how do you avoid the temptation?
• What do you think causes a person to impulsively purchase something? Reflect on your own behavior to answer this question.
• The combination of social media and online shopping can make impulse purchases even more prevalent. What are some strategies to prevent you from buying things you later regret?

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (from Insider): 

That adds up to about $5,400 per year, and about $324,000 over the span of a lifetime. Ted Klontz, a financial psychologist and consultant, said this number is so high because shoppers are often enticed by the calculated tricks of retailers. "They are seduced without knowing it by retailers who know the best way to get people to do what they want them to do: spend more," Klontz told INSIDER. "It is like walking down a carnival midway — the games are all rigged against them and for the retailer."

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About the Authors

Danielle Bautista

Danielle is a native of Southern California and a recent graduate from the University of Maine, where she braved the frigid winters—a feat in and of itself—and earned her Bachelor's degree in International Affairs. She has a passion for working with non-profit organizations and serving populations in underprivileged communities. When Danielle isn't writing NGPF blog posts, spearheading various outreach projects, or managing contests and flash surveys, you can find her doing some sort of outdoor activity, learning a new hobby, or cracking what she thinks are witty puns!

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Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

More posts by Tim