Why do we irrationally spend money on things we cannot afford during a cost-of-living crisis?

They call it retail therapy for a reason. In the midst of a cost-of-living crisis, you'd think that people would batten down the hatches and tighten the purse strings. Yet during times of economic hardship, people keep buying. Sometimes we spend money on things that seem irrational. If you're struggling to afford groceries and basic items, should you really be getting that foot massage? Apparently, Australians seem to think so. It's not the only example. People forgo big purchases when times are tough. But they seem to make exceptions for little luxuries. The typical example is cosmetics. Anecdotal evidence going…