How Online Shopping Drains Finances and What You Can Do About It

How Online Shopping Drains Finances and What You Can Do About It

With the rise of online shopping through online stores and social media, many people are falling into the trap of overspending. Saving money and resisting the temptation to spend can be one of the hardest things to do. Unchecked online spending can easily lead to major financial setbacks. If your financial decisions have led to bankruptcy, then ask a Chattanooga bankruptcy lawyer for guidance.


A 2021 global survey of online shopping revealed that double the amount of people have used their phones to shop. Around 34% shopped online compared to 46% who still shopped in physical stores. However, 44% shopped online through their smartphones, 42% through online smart home voice assistants, and 38% through a tablet.

Not only does this mean more shopping for products in general but also for medications and food. The rate of buying medications, groceries, and personal care products appears to have doubled since the COVID-19 pandemic. This makes sense considering that many people had to do curbside pickup for the first time.

Many people speculate that the rate of online shopping has increased after the pandemic due to various factors like:

  • Being stuck at home
  • Physical business shutdowns
  • Increased boredom

However, not everyone realizes that online shopping can turn into a habit that rapidly drains finances. What makes online shopping more enticing is the convenience and speed compared to physical shopping. All you have to do for many online stores is click one or two buttons and have the product delivered in a few days.

The faster the reward, the more likely the behavior is to continue in the future. Once a habit of buying is formed, changing the behavior becomes increasingly difficult. This is when learning ways to cut online shopping expenses can help.


One of the most important ways to manage online shopping expenses is to recognize the difference. The main difference between online shopping and physical shopping is the time it takes to pay for the product. Some online stores have one-click payments. Whereas physical shopping involves:

  • Walking around to find the product
  • Having the product in the shopping cart until you are ready for check-out
  • Waiting in line at check-out
  • Paying at check-out

All of these steps involved in physical shopping increase the time spent between choosing the product and paying. This leaves more time to think. Other online shopping tips include:

  • Always consider shipping and taxes before purchasing
  • Compare online products to find the best deal
  • Check online reviews first to see if the product matches the description
  • Avoid online sellers with more negative than positive reviews
  • See if there is a return and refund policy
  • Always print out the receipt or invoice


Dealing with bankruptcy can be stressful when you find yourself unsure about what steps to take. All you have to do is contact us at Tom Bible Law by dialing (423) 690-7712 for a consultation today. Our dedicated legal team of Tennessee bankruptcy attorneys is prepared to explore all your bankruptcy options. We can be found throughout the Tennessee cities of Chattanooga and Tullahoma.