Emotional Spending

This week I have come to the conclusion that I am definitely an emotional spender. Statistically more emotional spenders are women, but there are a few men in there too. They spend not because they need something, or even because they really want it, but because they have stress or problems in other areas of their lives.

People respond to stress in many different ways that are satisfying in the short run but devastating over time. I'm not one to go out when feeling sad, happy or frustrated to spend money on unnecessary clothes or shoes or even stuff for the house (the good thing about these items is you can return them to the store when you come to your senses) but I would go see a couple of movies and get the nachos, soda and probably popcorn - or I would call my friends until at least one would agree to go to dinner. 

Since I’m from the South, as most of you may know food is celebrated. Think about it… a baby is born, there’s a wedding, a relationship ended or even if the world was ending. What do you do? Have a good meal with friends and family. I mean really, how can you celebrate without food? For the most part any type of celebration you can think of, there is food involved. Take a look at Cassie, Willie, and Owen’s Food for Thought blog. That’s what I do. This month alone, I’ve been out to celebrate two birthdays, a wedding, and getting a job offer. “I am feeling sad and need a pity party”, “I haven’t seen you in forever”, “Let’s just do something” and an “I’m just hungry and too tired to cook” celebration. Ok so maybe the last one was a celebration that only included myself but the point is that eating out adds up to a big problem—not only for my budget but for my waistline. Since I have exceeded my food budget this month by $6.88 I have to say no to food. :) I will be in retail therapy rehab. So far when I get the urge to go out or see a commercial for my favorite restaurant I will do something else for 10 minutes and revisit the idea later. So far it works.

Carrie sent me some articles on emotional spenders and this one lists a few great tips to work through these situations.  Check out the article.

Comments

[Rachel]

Anglinia,

I like the emotional spender link you posted. My financial coach suggested this part of the article to me:

Treat yourself. The 60% Solution Budget (ideally) lets you spend a 10% chunk of your gross each month on pure frivolity. The wisdom of this is that no matter how tight things are, it's better to allot a specific amount for a treat than it is to impulsively spend the big bucks.

I am also learning to avoid Target! Kari suggested only going once a month for three months ... and with a list. I thought this part of the article related:
Avoid retail situations. Again, I'm no saint, but I try hard to identify those threats to my financial sanity -- and avoid them like the plague. I rarely visit a mall. I don't do eBay. Catalogs: in the trash (mostly). If dining out is your undoing, consider cheap eating alternatives.

[Kari & Darek]

Food=Celebration is a tough one. We have been trying to have get together's with friends rather than going out. Maybe that would help.
Good luck with August. Recognizing it seems to be the first step.