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Millennial Money: Do you want that sweater, or are you sad?

Expert offers tips on how to stop emotional spending
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If you want to save money, donB次元官网网址檛 enter your credit card info as youB次元官网网址檙e wading through an emotional flood. (pixabay photo)

When was the last time you made a sound decision while wiping away tears? Or shaking in fury? Or sweating with stress?

Your judgment was probably off during those emotional moments. Maybe you said something you later regretted B次元官网网址 or got bangs.

Or maybe you tapped a targeted Instagram ad for a pricey sweater, which you bought and never wore.

Feelings influence decisions, including whether we should add to cart.

B次元官网网址淓motions and decision-making are very strongly connected,B次元官网网址 says Kristy Archuleta , financial therapist and professor of financial planning at the University of Georgia in Athens. B次元官网网址淪ometimes our emotions override our thinking processB次元官网网址 and B次元官网网址渇lood our mind,B次元官网网址 she adds.

To save money, please donB次元官网网址檛 enter your credit card information as youB次元官网网址檙e wading through that flood.

FEELINGS, FINANCES AND TURBULENT TIMES

Making a logical, Spock-like decision is tough, particularly nowadays. The ongoing pandemic adds a B次元官网网址渓ayer of stressB次元官网网址 to our lives, Archuleta says.

As if more than 18 months of that stress werenB次元官网网址檛 enough B次元官网网址 whatB次元官网网址檚 that? B次元官网网址 itB次元官网网址檚 the holiday season ringing your doorbell. As usual, the holidays show up sooner than expected and bring so, so much baggage.

Along with the holidays comes family and, again, complicated decisions about gathering or not during the pandemic. Or maybe this season brings loneliness and nostalgia. It can certainly trigger financial pressure.

The holidays can B次元官网网址渋ntensifyB次元官网网址 our emotions, Archuleta says, and make it particularly difficult to B次元官网网址渟eparate our thinking from our feelings.B次元官网网址

An example from Archuleta: Maybe you overspend on gifts, because youB次元官网网址檙e excited to finally see your family or to make up for missing gatherings last year.

Or perhaps youB次元官网网址檙e blue about not seeing family B次元官网网址 or for any number of reasons. Down and depleted, you may order more and more stuff.

UH OH, YOUB次元官网网址橰E EMOTIONAL SHOPPING. HEREB次元官网网址橲 WHAT TO DO.

Before buying anything, try a B次元官网网址渂ody scan,B次元官网网址 says Natasha Knox, a Vancouver, Canada -based certified financial planner and certified financial behavior specialist , whoB次元官网网址檚 also the principal of Alaphia Financial Wellness, which offers planning, coaching and education.

Starting with your feet and working your way up, she says, check in with how youB次元官网网址檙e physically feeling. Are your palms sweaty? Are your shoulders tense? Are your eyes half-open as you stare at your phone?

How your body feels on the outside can indicate feelings on the inside. For example, maybe youB次元官网网址檙e despondent, enraged, exhausted or bored.

With that intel, Knox says, B次元官网网址測ou can ask yourself: `is buying this a great solution?B次元官网网址滲次元官网网址

Would buying that sweater fix your boredom, for example, or would you be back to scrolling 30 seconds later?

Knox also suggests giving yourself a B次元官网网址24-hour cooling period.B次元官网网址 Leave that item on the shelf for now. If you want to buy it tomorrow B次元官网网址 and schlep back to the store B次元官网网址 youB次元官网网址檒l be in a better head space to do so.

Step away from online purchases, too, she says. Close the tab touting the perfect sweater that will fix all your problems right now. Sleep on the decision, and examine if you feel the same way tomorrow.

Better yet, Archuleta adds, use some of that time to reflect on when, where and how youB次元官网网址檇 use this purchase.

WHEN YOUB次元官网网址橰E NOT SHOPPING, MAKE A PLAN.

Reflect on your last few impulse purchases. Examine what was going on around you, Archuleta says. For example, she adds, was it a hectic morning, soon after you got the kids out the door? Was shopping a tool to release that stress?

Try to identify themes in your environment and feelings. Maybe you often shop at night, when youB次元官网网址檙e exhausted. Or maybe you overspend on stuff for your kids when youB次元官网网址檙e feeling guilty.

Knox recommends also considering the retailer tactics that trigger you to overspend. Is it hard to pass up a two-for-one deal, for example? Or do you typically add a few more items to your cart to score free shipping?

This reflection isnB次元官网网址檛 meant to shame you about the past. Ideally, it empowers you to make more thoughtful shopping decisions in the future.

For example, Knox suggests using what you learned to create shopping principles for yourself.

Maybe you donB次元官网网址檛 shop online after 7 p.m., for example, or if youB次元官网网址檝e been drinking. Perhaps you make a rule to never click on retailer emails (which is easier to do if you unsubscribe).

Or follow ArchuletaB次元官网网址檚 classic decree: Always Make a Shopping List. If itB次元官网网址檚 not on the list, itB次元官网网址檚 not in your cart.

As you set these rules, also consider alternatives to spending to manage your emotions in the moment. If youB次元官网网址檙e stressed, for example, maybe calling a friend or family member would help, Archuleta says.

Knox also recommends determining why youB次元官网网址檙e making these principles and writing down those reasons. Think about what your life would be like a year from now if youB次元官网网址檙e able to better control your spending, she says, adding: B次元官网网址淎sk yourself: B次元官网网址淲hat good is going to come out of this?B次元官网网址

B次元官网网址 Laura Mcmullen, THE ASSOCIATED PRESS





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