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By Lauren Young, Digital Special Projects Editor

Here is an astounding statistic: Americans spent $71 billion on online impulse purchases in the last 12 months. 

I, Lauren Young, am one of those Americans. 

I’m guilty of buying stuff I really don’t need that is featured on my Instagram and Facebook feeds, including shoes, clothes and designer handbags. (I’ve been eyeing a buttery leather jacket for the past few weeks, but I have not yet pulled the BUY NOW trigger.)

According to a new survey from financial information site Bankrate, almost half of social media users (48%) made an impulse purchase after spotting it on social media platforms. And 68% of them say they regret one of those purchases later. 

One big problem is that it is so easy to shop online because our credit cards are often linked to our social media accounts. 

So how do we stop our perma-scrolling selves from impulse buying? It is not easy. 

Here are four handy ways to put up online shopping guardrails and avoid buying stuff you don’t need or cannot really afford.

Calling all online shoppers: I want to hear from you! Do you have any additional tips to avoid online impulse purchases? If you’ve bought something from your social media feed recently, tell me why you bought it.

Write me at onthemoney@thomsonreuters.com.

Senior citizens exercise together in front of the General Grant National Memorial in New York City. REUTERS/Mike Segar

Retirement is a big topic in the world of personal finance, but you’ll probably start hearing more and more about unretirement, when people return to the workforce after exiting their job. 

The truth is that Americans have a hard time retiring. Indeed, some 20% of those who consider themselves retired are actually working full-time or part-time, and another 7% are actively seeking employment, according to a new report by money manager T. Rowe Price.

"With COVID, a lot of people were pushed into retirement, even if they still wanted to work," said the report’s author Judith Ward, a vice president and thought leadership director at T. Rowe Price.

Many more people retired than expected during the pandemic, but by March 2022, 1.5 million retirees re-entered the workforce, Ward said.

People are motivated to return to work for different reasons. The T. Rowe Price survey found that 48% of people said it was financial, while 45% cited social and emotional benefits.

If you are nearing retirement or retired and thinking about working again, here are some important things to consider.

Luxury sector is in a tough spot (but don’t sell yet)

Weaker Chinese demand and high interest rates have pushed the European luxury goods sector into a tough spot. But the approaching holiday season in the United States and Europe could lift luxury stocks after a recent selloff.

Billboard displays temperature as Phoenix breaks heat record of 19 consecutive days above 110 degrees Fahrenheit, in Phoenix, Arizona. REUTERS/Liliana Salgado

Yes, it was a record hot summer globally. But I was still surprised when I opened my August utility bill, which was the highest yet. 

At Climate Week in New York City this month, I heard a lot of discussion about the price of energy. A Facebook friend recently posted that she paid nearly $100 to fill up her vehicle. 

Indeed, gas prices are still fueling inflation (pun intended). 

As for our energy bill, it was a whopping $400. And I live in a new, allegedly energy-efficient building. We also try to keep our energy usage to a minimum: We turn up the thermostat, clean our filters and close the blinds to block the sun.

“The demand for energy is fairly inelastic,” said Thomas Martin, senior Portfolio Manager at GLOBALT Investments. “You’ve got to put gas in your car. Maybe you take fewer trips but you still have to use it. You still have to use it to heat your home.” 

Higher energy costs are impacting the economy, too, according to economic data. By spending more on energy, consumers are spending less elsewhere, which has a ripple effect. 

Are higher energy costs impacting your spending habits on travel, restaurants, shopping or anything else? Share your recent energy bill experiences with me at onthemoney@thomsonreuters.com. 

I read every comment!

Dawn Heidlebaugh looks out of the window of her home in Findlay, Ohio. REUTERS/Megan Jelinger

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