How do I know if I’m an emotional spender?
- Identify your why, why are you shopping?
- Immediate gratification
- “I deserve it” or celebration
- Competing with others
- Are you in a cycle of buying & returning?
Retail Therapy is NOT Therapy
- Happy / Guilty cycle
Beware the Small Stuff:
- Cheap ≠ you need it
- If it wasn’t on sale, would you still buy it?
Budget for Splurges
- Small treats help prevent binging
- No “window shopping” don’t tease yourself
- Uninstall Apps
- Delete saved Credit Card info
- Unsubscribe from emails, and don’t give it to retailers
- Don’t be a Tag-Along Spender
Reality Check Questions:
- Why do I feel a want or need for this? Is it filling an emotional need or an actual gap in my life?
- Am I keeping up with the Joneses or shopping socially?
- If it wasn’t on sale, would I still buy it?
- Can I identify an immediate use? (ex. Don’t purchase a clothing item you can’t match with anything.)
- Did I have a need for this item before I saw it? Make a list before going shopping.
You can get more information here.