money management

Why emotional spending is OK (sometimes)

Emotional spending

Good morning loves.  Well my 11 day vacation is officially over and I’m back at the office.  Even though I’m working away I am definitely still in vacation mode.  I spent five days of my vacation in New Orleans and before that I kicked off all the festivities with a little shopping celebration.

After scouting deals online I set my budget at $100 to spend on myself to celebrate the beginning of, not only my vacation but a new phase in my life.  Here’s a little rundown of what’s coming up in my life aka all the reasons I need o celebrate: we are moving.  That’s about it.  We are moving to a new apartment and starting a new phase in our lives: that’s definitely a reason to celebrate.

Emotional spending is not compulsive spending

Now here’s my point, it’s OK to splurge every now and then if a) you can do it without using your credit card and b) your spending is controlled.  Now let me ask you this, do you spend money when you want to celebrate something great in your life?  I used to be a compulsive spender, spending money when I was both happy or sad.  Now I only spend money on myself occasionally and never in excess.

After I paid off my debt I was afraid to spend money for a long time because I didn’t want to go back to being broke.  Now I allow myself to spend money occasionally, but within a budget and never on anything I don’t need. That’s the key to emotional spending – keep it in check.

Emotional spending can be controlled

I say that I spend  money emotionally but that’s only partially true because my expenses are always very calculated.  The intent to spend money is based on emotion, but the amount I spend and how I spend it is always based on my budget.

The season is changing so my happy emotional spending came at the perfect time.  I bought basic items I need for fall such as black tights, new black dress pants for work, a new dress for my trip to New Orleans.  In total I only spent $80 and I got absolutely everything I need.  Now that is controlled emotional spending.

How often to you spend money emotionally?

Think about the last time you bought something, anything, was it emotionally initiated?  Did you buy ice cream the last time you were having a bad day?  Did you buy a bottle of win the last time you wanted to drown your sorrows?  Or did you buy yourself a new outfit to celebrate a new job?  The truth is a lot of our spending is emotionally based.

I have to be honest I’m not sure what it is about spending money, but it can be gratifying, consoling and uplifting all at the same time.  I don’t know any other activity that has the same effect on people.  Do you?

How to spend wisely when emotions are involved

The old me would spend money on anything, and I mean absolutely anything from meals to home furnishings just so I would have something to do.  My money and my life were ruled by emotions; but not anymore.

The pain, tears and stress that come with being in debt are heartbreaking.  Now I spend money based on emotions but not as I’m feeling them.  If I have a bad day I go home and wallow, sometimes I eat cookie dough.  I think about how much money I can spend and how much I can afford to spend without feeling guilty.  That’s how I control my emotional spending and I never feel bad about it.

Photo from Flickr

About the author

tk

1 Comment

  • Yesterday, I was feeling very low and I really don’t know why. And all of a sudden, I treated my family to dine out. I always observed that whenever I’m stressed or happy, I really want to eat with my family and I felt better after that.

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