Emotional spending occurs when an individual spends money to cope with stress, improve mood and get self esteem. People become emotional spenders by the attractive ads that manipulate their spending habits. Emotional spending will lead to shopping addiction which result in buying more than what you can afford.
Emotional spending is nothing but buying something that you don’t need and it occurs due to the reasons like feeling stressed out, unhappy, bored, incompetent, under-appreciated or any number of other emotions. In fact, most people spend emotionally when they are happy. Emotional spending results in unnecessary spending of money. Below mentioned are some smart ways to avoid emotional spending.
Don’t succumb to impulse purchases. It is more like unplanned decision of buying something which is really not needed. Impulse buying can be prevented by setting budgets before shopping and taking time out before the purchase is made.
Don’t subscribe to the product and service catalogs of online stores. These online stores send regular continuous emails and promotional messages to your mail box regarding the unsolicited offers on products and services. Better avoid these ads on television, radio, mobile and internet.
Don’t get habituated to visiting shopping malls to overcome your mood and stress. Also, don’t get excited towards the tempting offers in great malls which are not reasonable to purchase. Always avoid online shopping, as we cannot trust the person or online shop. They may promise to offer high quality products, but you don’t know anything about the quality until the time of delivery. You may receive a low quality product also. So, identifying the problem and spending habits is the first step to get away from emotional spending and shopping addiction.