How to Curb Emotional Spending

OverspendingEmotional spending is something that happens to everyone. Whether we had a bad day and need a little retail therapy, or we want to treat ourselves to finally doing something that we’ve been meaning to do in ages. It’s fun while it’s happening, so why are we so anxious afterwards? Hey, it gets to the best of us, don’t feel embarrassed or beat yourself up over it! Instead, learn to identify what your spending triggers are and try the methods that help me!

Credit CardsA major thing that’s helped me with my emotional spending is asking myself several questions before I make a purchase. Everyone knows about the credit card. How easy is it to just carry a piece of plastic around and pretty much purchase anything you fancy?! That’s where the trouble comes in. Ask yourself: Would I still buy this if I had to pay cash (and not use a credit card) to buy it? For me, oftentimes the answer is NO. Money in terms of cash is more difficult to spend as it has an emotional attachment to it. It’s physical, in your hand, and you can see just how many bills and coins you’re giving up in exchange for that item.

Expensive Purses

Another question that’s helped me with my spending is how many hours it would take me to earn enough for said item. Seriously, it works! Say you make $20/hr and you want a brand new purse that retails for $1500. By doing the math (don’t worry… you can use a calculator!), that would mean 75 hours of work! Is it really worth that time? Are there better things in life that you would trade 75 hours for?

If all else fails, most stores are willing to put items on hold for you so you can mull it over. I like to wait 24 hours before making a big purchase because sometimes, the excitement gets to me; being an impulsive shopper doesn’t help anyone but corporations. Think it over! Do you really need another lipstick on top of your 200+ other lip products? Probably not, but I understand completely if you say yes. Most of the time after waiting a day, I pretty much forget about said product. If I’m still lusting after it, only then will I spend my cold hard cash! Please be smart with your money, ladies!

Add to CartI’ve had my fair share of emotional spending but I’m ready to break free and realize that I don’t need that new dress to feel better about myself! Clicking “add to cart” can give us a feel-good rush, but there are so many better ways to happiness if you need a pick-me-up. In moderation, it’s nice to spend some of your hard earned money but be smart with your spending!