I recently came across an article written by Dr Libby Weaver 'Ways to deal with emotional eating'. I couldn't help but notice how easily it could relate to emotional SPENDING!
Emotional eating is when we eat for non-physiological reasons - we aren't actually hungry...
Emotional spending is when we spend for non-essential reasons - we don't actually need anything..
Emotional spending is just as unhealthy as emotional eating, and could also have negative long-term impacts on your financial health.
If you find yourself emotionally spending, you are covering up on your feelings - this could be sadness, anxiety, frustration or even happiness.
The advice Dr Libby gives about food relates so well to emotion-driven spending : Be mindful of when you’re spending to alleviate stress, and when you’re spending because you actually need something. If your ‘go to’ habit to relieve the stress of a bad day, a bad relationship, is to go shopping, try to find other ways to manage this stress that are not so destructive to your financial well-being.
If you feel you suffer from emotional spending, we can certainly help you get through it. You can take control back over your money, and not let it control you.
Instead of jumping on-line and making that impulse purchase to cover your real emotions, make an obligation free appointment to chat: BOOK ONLINE HERE
Your Financial Stylist
Link to Dr Libby's article: https://www.drlibby.com/do-you-feed-your-feelings/