Wouldn’t you like to put more money in your savings account that you currently are blowing on stuff like footwear, outfits, movies, fancy restaurants, parties, etc?
Everyone needs the above-mentioned items to be happy and fully functional, but things begin to get serious when you are spending money to fill the inner void that never gets filled no matter what you do. The urge to spend money has a lot to do with inner issues that have been unresolved for a long time. But it’s not too late. You can begin to solve them by taking one tiny step at a time.
Here are the 5 ways to help curb your emotional spending.
1. Identify triggers that make you buy stuff
Emotional spending is an inner reaction that helps you avoid a confrontation with your problems. Any problems that you have buried deep in your mind surface only on certain occasions. Maybe when you see certain things, or on smelling delicious food. An emotional trigger is unique to every one of us and it is difficult to give a general answer.
2. Pause before you hit the buy button
As discussed in the above point. Emotional spending is a reaction and can be diffused by delaying your impulse to do what it tells you to do. So, next time you get an email– from your favorite online store— informing about their latest products, take some time and delay hitting that red buy button.
3. Find alternative activities
It is important to distract yourself whenever you feel an urge to buy something that you know you don’t need. Disrupt the old pattern by doing something outrageous like going for a run or do ten push-ups in a row.
Exercising releases chemicals in your brain that make you feel good naturally. It is also a great stress buster. So, if stress is the reason behind your urge to shop then going for a run or a brisk walk should be your go-to solution.
4. Avoid impulse buys
Supermarkets and grocery stores are brilliant at getting their customers to buy things they don’t want. Has it ever happened that you entered a store with an intent to buy a soda or chocolate bar and came out with more stuff in your hand? Well, you might not have noticed but you were a victim of impulse buying. Store owners or managers place certain products in an area where the customer has very less time to make a buying decision.
5. Skip the celebrations
You might have heard the expression “Do not celebrate too early!”. This statement also stands true in the world of budgeting. Next time when you get promoted at work, avoid calling every friend and telling them the good news. Wait for two-three days until the novelty of earning more money runs out.
Creating a list of your common emotional triggers is one action step you can today to get rid of emotional spending forever. Like every other addition, getting rid of emotional spending will also take considerable time and effort on your part but the results will shock you.