4. Pay in advance

It’s not always possible, but if you can pay in advance of an experience such as a holiday, it divorces the pain of paying from the joy of possession or doing. By the time the holiday comes round it feels almost as though it was free, leaving you to concentrate on the pleasure without it feeling expensive.

Conversely, if you buy something on credit, you have the pain of paying when the pleasure has long gone.

5. Buy yourself small treats

When people are feeling miserable, they are more likely to buy themselves a gift. In a study conducted in a US shopping mall, researchers found that people often spend money strategically to improve their mood.

They know what they’re doing. Small treats won’t make a difference in the long-term, but can cheer you up temporarily. Lots of small treats will make you happier (and cost less) than one big one.

6. If you play the lottery, don’t choose the same numbers every week

We all hate making decisions we regret and this regret aversion means we fear the discovery that the week we didn’t buy a ticket with our usual number, we could have become a millionaire. So don’t choose the same lottery numbers every week or you will never be able to stop playing.