Shopping Psychology in Cost of Living Secrets
Reporter
“On Cost of Living Secrets we go back to basics to find out how we can do more with what we’ve already got, ” says Ricardo Gonçalves who co-hosts the new SBS podcast with Peggy Giakoumelos.
Each episode of Cost of Living Secrets features expert guidance to help listeners make more informed decisions about their everyday spending, including doctors visits, saving on petrol, approaching banks about loans, and more.
"With cost-of-living pressures rising, we’re all looking at ways to make our dollar stretch further and sometimes it’s the simple things that can often make the most difference,” says Gonçalves who also hosts the finance news on SBS World News and SBS On The Money podcast.
“What I find fascinating is the psychology of the consumer: why we shop the way we do, what triggers us to buy certain products, and the way retailers try to manipulate our purchasing behaviour.“
The six-part series includes an episode on supermarket shopping with consumer behaviour expert Professor Nitika Garg who explains what all those colourful price tickets on the shelves really mean and if shoppers are really saving anything.
"Red or yellow stickers signal a deal in supermarkets, so we end up paying special attention to them. As a result, every time we get a good deal, psychologically, we get a dopamine hit, right? It's like a pat on the back,” says Professor Garg in the podcast.
General practitioner Dr Rebekah Hoffman discusses rebates, bulk billing and the different services available for patients in metropolitan and regional areas.
"Many GPs offer online referrals. Which once again, saves us time so you don't have to take a day off work to go and get your referral. But often this will save you money because the cost of doing an online referral is often less than doing a face-to-face doctor's visit," said Dr Hoffman.
And when it comes to food savings, Daisy Coyle, an accredited practicing dietitian, sheds light on when it is okay to go for cheaper brands.
Cost of Living Secrets will is available now on YouTube, the SBS Audio app, LiSTNR and wherever you stream podcasts. Listen to the episode above.
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