What Is Emotional Spending?
Emotional spending occurs when purchases are made in response to feelings rather than needs. This behavior is often a way to manage or soothe emotions like stress, sadness, boredom, or even happiness. Shopping can sometimes feel like a quick way to find comfort or a sense of relief, filling a void that may be present.
Why Do People Engage In Emotional Spending?
Emotional spending can be a coping mechanism during difficult times. For example:
- Seeking Comfort: Shopping may offer temporary relief from stress or emotional pain.
- Validation: Buying something new can sometimes make us feel valued or uplifted, even if only for a short while.
- Connection: At times, purchasing items might be a way to feel more connected or to distract from feelings of loneliness or emptiness.
Safe Ways To Spend When Feeling Big Emotions
- Set Gentle Boundaries: Consider setting aside a small, manageable amount of money for spending when you’re feeling low, so it doesn’t lead to guilt or financial strain.
- Pause Before Purchasing: Give yourself time to reflect on your feelings before making a purchase—this can help in making decisions that feel more aligned with your needs.
- Explore Other Comforts: Engage in activities that soothe or uplift you without financial impact, like walking, journaling, or connecting with a supportive friend.
Red Flags & Alternatives
It might be helpful to notice if:
- Impulse Buys Become Common: Especially on items you later regret or don’t truly need.
- Shopping Becomes A Go-To Coping Strategy: Regularly turning to spending when facing emotional challenges.
- Avoidance Of Financial Realities: Feeling afraid or anxious to check bank statements or face the financial impact of your spending.
When these signs appear, it might be a good time to explore other ways to care for yourself, such as therapy, mindfulness, or engaging in fulfilling activities that don’t involve spending.
The Larger Impact Of Emotional Spending
- Financial Impact: Ongoing emotional spending can create financial strain, deplete savings, and make it harder to achieve long-term goals.
- Chasing Temporary Relief: As the relief from spending fades, there might be an urge to continue spending, which can lead to deeper financial difficulties.
- Potential For Other Challenges: Emotional spending can sometimes lead to or co-exist with other behaviors as individuals search for relief, comfort, or validation.
Emotional spending is something many people experience, especially during challenging times. By understanding the emotions behind your spending and finding alternative ways to care for yourself, you can protect your financial wellbeing while nurturing your emotional health.
References:
- Psychology Today – Emotional Spending https://www.psychologytoday.com/emotional-spending
- American Psychological Association – Money and Mental Health
https://www.apa.org/news/press/releases/stress/2015/money - Verywell Mind – Impulse Buying and Emotional Spending https://www.verywellmind.com/impulse-buying-4171661
- National Alliance on Mental Illness (NAMI) – Financial Stress and Mental Health https://www.nami.org/financial-stress
