Emotional spending is when you buy something you don’t need and in many cases you don’t even want but eventually you buy it under the pressure of emotions like unhappiness, boredom, and under appreciation.
Here's how you can avoid emotional spending and save your dollars.
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@habitsguy How to Cut Emotional Spending
“Advertising has us chasing cars and clothes, working jobs we hate so we can buy shit we don’t need.” - Tyler Durden
Emotional spending is when you buy something you don’t need and want but eventually you buy it under the pressure of emotions like unhappiness, boredom, and underappreciation.
While it is not realistic to completely cut emotional spending, here are some tips that will help you considerably decrease it.
Decrease your exposure to advertisement 1
Decrease your exposure to advertisement 1 The best way to avoid emotional buying is to be less aware of what’s available.
Online Use an adblock software and unsubscribe from the products catalogs that are flooding your email with new products and offers.
Offline When you are recording a show it is really easy to skip advertising. When you are listening to radio better switch to a public station or listen to a CD or mp3 you have recorder.
Don’t make impulse buys 2
Don’t make impulse buys 2 When you find yourself ready to buy something that you wasn’t planning to buy before, just don’t buy it.
24-hour rule Make a rule that every time you find yourself in this situation, you will get 24 hours to think if you really need what you are about to buy.
1-week rule Now if after 24 hours you are still thinking about it but you know that you can’t really afford it, just wait for a week.
Be accountable Reach out your friends and family and tell them to give you a hard time when they see you buying stuff you really 3 don’t need.
Remind yourself Make a list with your financial priorities and post it in a visible place where you can see it every day, like your refrigerator.
Remind yourself If you want to take this a step further, write these priorities to a post it and put it on your credit card so you can see them every time you are about to buy something unnecessary.
Find other activities Identify your feelings when you have an urge to go shopping and try to find an alternative activity that will help you deal with these 4 emotions.
Exercise If you are going shopping when you feel stressed, try some exercising to blow some steam.
Socialize If you do it as an entertainment try meeting up with some friends and socialize.
Based on an article written by: Benjamin Warren, owner and webmaster of MightyAdvice.com.
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