Feeling Sad? Hit the Stores: Strategies to Identify and Manage Shopping Triggers

Emotional spending occurs when people buy something based more on their emotions than rational thinking. Also called “retail therapy,” this method often allows for a sense of temporary emotional relief. Usually, it results in financial destruction, regret, and long-lasting effects. Understanding the psychology behind this behavior and how to manage it can help people develop healthy financial habits and a positive approach toward money.

Emotional Spending Explained

Emotional spending is when purchasing decisions are primarily influenced by emotions or feelings, whether positive or negative, rather than buying what we need. Research shows that heightened emotional states such as anxiety, sadness, or excitement can inhibit rational thinking, leading to impulse shopping and emotional spending.

Some of the common emotional spending triggers are as follows:

1. Work or relationship distress: shopping can seem like a quick fix for the pressures of everyday life.

2. Loneliness or boredom: buying something new can create temporary excitement or fulfillment.

3. Celebration and reward: Treat oneself to something after an achievement can lead to overspending. Instead, do something with friends or family.

4. Depression and anxiety: shopping can be a way of coping and avoiding negative feelings.

5. Social pressure and comparison: social media and peer pressure can create a fear of missing out (FOMO) that drives people to spend rather than focus on trends or experiences.

Although emotional spending may provide temporary joy, it usually results in regret and stress (financial and mental) once the emotional high wears off.

Impulse Buying and Financial Well-Being

Impulse buying, the hallmark of emotional spending, can devastate one’s financial health. When purchases are made from impulses and emotions rather than necessity, it leads to:

• Becoming dependent on credit cards: emotional spending leads to additional unnecessary expenses, which lead to debts because we spend money we do not have. This money we borrow grows and compounds as we are charged high interest rates not only on the purchases but also on the accumulating interest we get charged.
• Lack of savings accounts: a severe sign is when people justify using money earmarked for savings, emergencies, or other long-term goals instead of unnecessary purchases. A lack of savings is a clear indication of impulse buying.
• Guilt or buyer’s remorse: the transitory joy brought by shopping immediately turns bitter with the regret.
• Stressed Relationships: emotional stress from accumulated stuff and lack of financial security leads to constant friction with their partners or family.
• Financial anxiety: Long-term repercussions of emotional spending create a vicious cycle of stress and worry about money.

The cycle of emotional spending provides temporary relief but has a long-term impact on financial stability and personal relationships.

Understanding Your Money Mindset

Your money mindset—your beliefs and feelings about money—affects your spending. Emotional spending is often related to subconscious patterns and emotional triggers. Some research suspects that as much as 95% of purchases occur in the subconscious realm.

Steps to Understand Your Money Mindset:

• Emotional trigger recognition: what emotions do you experience whenever you binge-spend? Ask yourself if you’re shopping because you’re bored, frustrated, or celebrating something.
• Identify your spending patterns: keep a diary of your purchases and how you feel after each spend.
• Reflect on your relationship with money. Consider the influence of your upbringing, culture, and previous experiences on this relationship.
• Acknowledge societal and cultural presuppositions about spending. Media, publicized advertisements, and norms influence spending behavior more than an individual does, such as dress codes and lifestyle aspirations.

Once you recognize your money mindset, you can develop your money habits.

I will admit that it’s easier said than done to break away from emotional spending. You can scale back on this horrible financial habit using practical strategies to get you back on track. Some tips include:

1. Use a 48-hour Rule for Non-Essential Purchases.

Waiting one day before purchasing something gives you time to consider whether you need or want it. This cooling-off period helps separate emotional urges from rational decision-making.

2. Unsubscribe from Promotional Emails.

Retailers want you to spend money, so they often pressure you to buy impulsively with lesser-known marketing strategies, such as lightning sales and limited-time offers. Unsubscribe from promotional emails so you won’t have as much temptation.

3. Use Budgeting Apps to Track Spending.

Monitor spending using apps like Mint, YNAB (You Need a Budget), and PocketGuard. These tools will identify equable patterns that can limit discretionary spending.

4. Find Alternative Methods of Relieving Stress.

Rather than going shopping, explore other activities that relieve stress. These include exercise, meditation, journaling, and spending time with friends. All are acceptable alternatives for emotional relief that don’t drain the wallet.

5. Practice Mindful Spending Techniques.

Mindful spending means being fully attentive to yourself regarding your purchases. You must ask yourself:

• Do I need this, or do I merely desire it?
• What is the effect of this purchase on my financial goals?
• Am I purchasing this to fill an emotional void?

Develop Healthy Habits for Spending

Building healthy financial behavior means curbing emotional buying and laying the groundwork for developing sound financial habits. Here are a few steps to help you get started:

1. Set Clear Financial Goals.

Clearly define short-term and long-term financial goals: save for a vacation, get rid of debt, boost the amount in your emergency fund, etc. Clear goals can help you stay focused and hold off on that impulse purchase.

2. Start and Maintain An Emergency Fund.

An emergency fund helps with financial hardships and provides peace of mind, knowing you can cover your necessities.

3. Develop Healthy Coping Mechanisms.

Use better alternatives to shopping as emotional comfort tools, such as talking with a friend, practicing gratitude, or pursuing a creative hobby.

4. Form a Support System.

Tell your trusted friends or family members about your financial goals; they can help keep you in check and motivated.

5. Seek Professional Help.

If emotional spending appears to make it impossible to breathe, consider enlisting the help of a financial advisor or a therapist. They can help you with the underlying emotional trappings and create a personalized plan to face the financial world.

Final Thoughts

Emotional spending is a deep-rooted behavior affecting many people, but it shouldn’t imprison your financial future. Understand the psychology of your spending habits, identify your emotional triggers, and work on practical strategies to break these impulse buying patterns to create a healthier relationship with money. Financial wellness is a journey, not a destination. Start small, stay consistent, and celebrate each step. Over time, you can establish a positive money mindset and foster your financial goals.