It’s a fairly common practice to buy something to boost your mood. Maybe you’ve made an impulsive online purchase at your favorite clothing store or decided to upgrade your television with the easy “1-click” purchase option on Amazon. Unfortunately, when people let their emotions control their spending habits, it may lead to shame, guilt, and, eventually, financial woes. While a few emotional shopping sprees aren’t likely to cause harm, it’s best to avoid this practice.
Here are a few ways to avoid stress — or emotional — spending:
- Understand your spending triggers. What tempts you to make an unplanned purchase? Maybe you’re bored late at night, or you’ve received some difficult news. Some may find they spend money freely to celebrate accomplishing a milestone. Take careful note of these triggers to control your impulse to spend money. As you do, you can replace that impulse with other ways to handle your emotions — such as taking a walk, exercising, socializing with friends, doing something creative, or practicing yoga.