If you’ve been shopping recently, you may have noticed that your paycheck doesn’t stretch as far as it once did. It’s not just in your head—prices are indeed rising.

In March, the Consumer Price Index (CPI) increased by 0.4 percent, as reported by the U.S. Bureau of Labor Statistics. Over the past year, the CPI has risen 3.5 percent, up from 3.2 percent for the 12 months ending in February.

Despite the financial strain, some consumers are making unexpected spending choices. One such response to rising prices is what’s known as “hate spending.” Here’s a closer look at this phenomenon and tips on how to safeguard your hard-earned money.

What is hate spending?

Hate spending refers to spending money out of frustration due to rising prices. Instead of adjusting their lifestyle or seeking ways to cut costs, some consumers continue to spend as if prices haven’t increased. This behavior often stems from anger or resentment about having to pay more for items that previously cost less.

This is different from doom spending, where people buy luxury items to cope with economic uncertainty, a costly way to ease anxiety.

Hate spending is less about retail therapy and more about defiance or frustration. For instance, if a favorite box of cookies has jumped from $6 to $9, you might still buy it, justifying the expense with the belief that you deserve it because you work hard.

Emily Stewart of Business Insider, who coined the term “hate spending,” explains that while consumers continue their usual spending habits, they do so with a sense of anger about the increased costs.

Why shoppers are hate spending

Consumers may not be thrilled about spending more, but many go ahead with purchases regardless. For some, this behavior is an act of defiance, while for others, it stems from feelings of helplessness.

“Consumers overspend for several reasons,” says consumer finance expert Andrea Woroch. “Many people don’t track their spending closely. With purchases spread across various credit cards or buy-now-pay-later services, people often find themselves in significant debt before realizing how much they’ve actually spent.”

Woroch also points out that shoppers are feeling constrained. They want to maintain their freedom and enjoy their purchases despite rising costs.

“People don’t want to feel restricted, especially when they’re working hard for their money. But with everything costing more, their dollars aren’t stretching as far. At the same time, they’re reluctant to give up the things they enjoy.”

Take Vermont resident Alysia Straw, for example. Her brand loyalty drives her buying decisions, and she’s unwilling to switch brands even if prices rise.

“I’m loyal to Pepsi Zero and won’t drink any other brand,” says Straw. “I usually buy a case of 24 cans for $11, which lasts me about a week and a half.”

During a recent grocery trip, Straw was shocked to find the price had jumped by nearly $6. Despite her frustration, she chose to buy the case for $17.

“I managed to keep my temper and didn’t throw my Visa card across the counter,” Straw jokes. “Unfortunately, I expect things to get worse with shrinkflation—where prices stay the same but product quantities decrease. It’s incredibly frustrating.”

Managing financial grief

Spending more than anticipated can often lead shoppers into a state of financial grief. Julie Beckham, Associate Vice President of Financial Education Development and Strategy at Rockland Trust, explains that many consumers are struggling to adapt to shifting economic realities.

“We’ve just come out of a pandemic, and the stages of financial grief are extensive and varied,” Beckham tells Bankrate. “Some people are stuck in the anger stage. They’re grappling with the new cost of living and are not ready to accept it because they’re still upset. Amid global chaos and strife, people are holding onto their desires, despite the harsh new economic reality.”

How to resist the urge to hate spend

It’s easy to opt for convenience when dealing with finances, especially when faced with rising prices on your favorite items. Instead of just accepting higher costs, take the time to compare prices and find better deals to maximize your value. Here are some additional strategies to safeguard your financial well-being:

Set and follow a budget

A budget helps you monitor where your money is going, allowing you to keep more cash in your account. By developing a spending plan, you can better manage your finances and achieve your goals.

“This helps you determine how much you can save or allocate toward debt, making it easier to set and reach realistic goals,” says Woroch. “It’s a crucial step for paying off debt, building savings, and ultimately growing your wealth.”

Get a handle on impulse purchases

Be aware of your buying habits and identify triggers that lead to impulse buying.

“If you’re tempted by sales, consider disabling push notifications from deal apps and unsubscribing from store newsletters,” Woroch suggests. “Instead, focus on finding discounts for items you actually need and use tools like Sidekick from CouponCabin to automatically apply coupons and cashback to your purchases.”

Automate payments

Automate Payments
Setting up automatic payments can help you stay on top of your bills and manage your finances more efficiently.

“If you’ve accumulated credit card debt, automating payments might be beneficial,” says Beckham. “Paying in small, regular amounts can help you tackle the debt without constantly stressing over it. By automating, you avoid the frustration of seeing the debt and can manage it more smoothly.”