{"id":208,"date":"2022-05-31T05:00:50","date_gmt":"2022-05-31T12:00:50","guid":{"rendered":"https:\/\/www.speedycash.ca\/how-to-avoid-emotional-spending\/"},"modified":"2025-12-11T15:15:10","modified_gmt":"2025-12-11T15:15:10","slug":"how-to-avoid-emotional-spending","status":"publish","type":"post","link":"https:\/\/ppspeedy.com\/blog\/how-to-avoid-emotional-spending\/","title":{"rendered":"How to Avoid Emotional Spending\u00a0"},"content":{"rendered":"\n
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<\/i>Financial Tips<\/span><\/a><\/div>\n\n

How to Avoid Emotional Spending\u00a0<\/h1>\n\n
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Have you ever had a bad day and made yourself feel better by buying something? That\u2019s one example of emotional spending. But just as there are <\/span>many <\/span>emotions, there are as many reasons we buy things we don\u2019t need. <\/span>Emotional spending can drain your savings. <\/span> <\/span><\/p>\n\n\n\n

These purchases are also known as impulse buys, where we pay for something we don\u2019t need<\/span>,<\/span> but <\/span>want for some reason<\/span>. Canadians all over the country fall prey to emotional spending, forking an <\/span>average of $3,720 a year<\/span><\/a> to improve their moods. And it\u2019s no wonder <\/span>we\u2019re also in a lot of debt<\/span><\/a>. For every dollar we have, we owe $1.78 \u2013 a number that\u2019s creeping higher with each passing month. <\/span> <\/span><\/p>\n\n\n\n

Emotional spending can sneak up on you when you are stressed, excited, or trying to treat yourself. Small habits and mindful choices can help you control these urges and stay on track with your budget.<\/p>\n\n\n\n

For more ideas on saving money<\/a>, explore our helpful tips.<\/p>\n\n\n\n

The Emotional Spending Psychology <\/h2>\n\n\n\n

According to <\/span>Psychology Today<\/span><\/a>, the root of emotional purchases is our unconscious desire to buy what will manage our current emotional state. Simply put, we want the product to elevate, maintain, or calm our current mood. <\/span>Are you <\/span>feeling low-key? You\u2019re more likely to buy tea. <\/span>Are you <\/span>experiencing excitement? You\u2019ll probably reach for that energy drink. Conversely, if you\u2019re stuck with the blues, you\u2019ll seek out what cheers you up. If we like our mood, we gravitate towards what will keep us feeling this way; if we\u2019re uncomfortable with the emotion, we shop for what will change it. <\/span> <\/span><\/p>\n\n\n\n

It all sounds simple<\/span>: being aware of our \u201cwhy\u201d behind every purchase.<\/span> Yet, it isn\u2019t easy to make the unconscious, conscious, especially in the thrill of the emotional moment. Plus, not all of us are aware of what we\u2019re feeling, exactly when we\u2019re feeling it. <\/span> <\/span><\/p>\n\n\n\n

While we may not be able to control our unconscious emotions, what we can do to bring them to our awareness is to get curious about them. To answer the \u201cwhy\u201d of each purchase starts with learning more about how your values and personality impact your spending decisions. <\/span><\/p>\n\n\n\n

Three Powerful Questions to Ask Before You Buy<\/h4>\n\n\n\n

Next time you’re tempted by an unplanned purchase, pause for 30 seconds and ask yourself:<\/p>\n\n\n\n

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  1. What do I really like about this item?<\/strong> Is it the brand, colour, design, price, or just the idea of owning it?<\/li>\n\n\n\n
  2. How is this purchase making me feel right now, and why?<\/strong> Am I bored, stressed, sad, or celebrating something?<\/li>\n\n\n\n
  3. What happens if I don’t buy this today?<\/strong> Will I still want it tomorrow, or will the urge pass?<\/li>\n<\/ol>\n\n\n\n

    These simple questions turn unconscious habits into conscious choices and help you avoid impulse buying most of the time.<\/p>\n\n\n\n

    Signs of Emotional Spending<\/h3>\n\n\n\n

    While some purchases fulfill genuine needs, emotional spending involves using money to cope with positive and negative emotions. But how can you tell if you\u2019re shopping based on feelings rather than reason? Here are some common signs of emotional spending to watch out for:<\/span> <\/span><\/p>\n\n\n\n