impulse buying

The spreadsheet: rent ✓, groceries ✓ (under), savings ✓ (auto). Discretionary: budgeted $150, actual $347, status ⚠ OVER 131%, notes: “it was shiny.” We map the six-stage budget failure lifecycle, identify the five psychological mechanisms (present bias, scarcity cues, ego depletion, licensing, mental accounting), assess four budgeting approaches against them, and explain which combination actually works.