There are some tell-tale signs that you’ve got a problem with emotional spending. Emotional spending is when you spend because of how you feel rather than because you want or need something. It’s the way you cope with things in your life. These are some signs that you may be dealing with the problem of emotional spending.
If spending is your immediate reaction to stress then you may be an emotional spender. Everyone enjoys a little retail therapy now and then. Emotional spending goes way beyond that. If spending is always your reaction to stress then it’s likely you’re an emotional spender. Try to think of other ways to handle your stress such as going for a run or talking to a friend.
If you spend money regardless of your financial state then you may have a problem with emotional spending. This means you have no problem dropping a hundred on a pair of designer jeans when you know that your rent is due. You can easily go out for a girl’s night with money you need to buy gas for your car. Neither of those examples are things that’re bad to spend money on. It’s the matter of choosing those things over meeting your financial obligations.
If you’re an emotional spender than you probably justify your purchases. You may think that you deserve something because you work hard or that you need something to soothe your hurt feelings. While it’s not wrong to enjoy what money can buy, it’s important not to look to things for total satisfaction. Remind yourself there are more important things in life than material possessions. Spending shouldn’t be your only way to deal with things.
If you’re an emotional spender, then the chances are high you already know it. You know that you look to spending to make you feel better. You may have decided to read this article because the title struck a chord with you. But it’s good that you realize you have a problem with emotional spending. You can’t work on fixing it until you acknowledge it.
If you’re an emotional spender then you probably feel the need to keep up with others. You feel like you have to carry the right purse, wear the right clothes and drive the right car. It’s not wrong to want to have nice things. But it’s not good if your motivation to have them is so you can fit in with a certain crowd. Make a conscious choice to choose your friends because of who they truly are and not what they have.
If you’re an emotional spender, then you probably find yourself doing damage control from time to time. This may mean that you have to borrow money or juggle bills to cover your spending habits. Most likely you have some stress over your finances. You may even deal with that stress by spending more. This can lead to a frustrating cycle.
Emotional spenders often have buyer’s regret. You know you shouldn’t have made purchases based on your emotions. You may not have even really wanted whatever it was you purchased. Buyer’s regret is a fact of life for emotional spenders. It’s something that you know you’ll have when you make the purchase yet you still can’t resist.
These are 7 signs you may have a problem with emotional spending. Do you see any of them in yourself? You’re welcome to share your stories.