6 Danger Signs Of Emotional Spending........

I recently read an interesting article on the six danger signs of emotional spending.Some people ventilate their stress by overeating, drinking (alcoholic beverages that is), getting high, and shopping.If overspending is your weakness it can be VERY EASY to shop when you are feeling overwhelmed and stressed! I cannot lie.......I have been guilty of this very thing!!!!  Lets take a look at the six danger signs:

1. Seeking Immediate Gratification: When stress levels run high and you're feeling anxious, restless, or irritable it can be easy to seek pleasure or satisfaction just to escape those negative feelings. Shopping can temporarily fill this need. Once you head home and the shopping high has warn off, you may then find yourself having a case of shopper's remorse. Instead of making an irrational buying decision in the heat of the moment, give yourself a week or two to think about the purchase so that you can review your budget. 
2. Justifying The Purchase With "I Deserve It": Telling yourself that you deserve to splurge on something may be a sign that you need to give your self esteem a boost. Spending money is one way to take care of yourself, but the need to spend may be rooted in emotions. If you don't address the emotions or feelings of lack in your life, you could be setting yourself up for a round of emotional spending. 
3. Spending Because Of Financial Woes: If you have just received some bad financial news or are struggling to keep your budget in order, you might spend more money than planned to avoid the situation only to make your financial matters worse. Whether you turn to credit cards or cash to fuel your shopping spree, coping with financial distress by spending is a surefire sign that emotions need to be addressed first. Take sometime to review your budget and financial standing, determine what you actually need to buy and consider whether you can afford to splurge before you head out of the door or click the checkout button. 
4. Shopping To Decompress From Stress: Some people turn to food or alcohol during stressful times; emotional spenders go shopping. If you are dealing with several stress-filled days or recovering from a stressful life event, steer clear of the mall and online stores so that you can cope with the situation in a healthier way. You need to make clear-headed decisions during stressful times, and shopping will only cause an escape. Call a supportive friend, go to the gym, or take a relaxing bath to decompress from stress without serious financial ramifications. 
5. Competing With Friends, Family Members, Or Co-Workers: When buying new things or collecting high-end items to outdo other people becomes a part of your lifestyle, you may be on a perpetual shopping high in an effort to feel powerful. Striving to always have the best of the best and making an effort to show off your recent acquisitions to friends, family members, and co-workers is a sign that your spending habits are fueled by emotions and not necessarily based on need. When you're trying to maintain a certain image and always seem to have the urge to splurge, take a step back and consider what is really fueling that desire to spend.
6. Buying And Returning More Items Than You Keep: For an emotional spender buying and returning several items at a time is a way to exercise some damage control, but it still perpetuates the shopping cycle. While you may not end up paying for the items you pick up on that next shopping haul, you will have spent a significant amount of time engaged in the shopping process to escape from emotions and feelings. If you end up missing the return policy date or pay restocking fees, your spending sprees could end up costing you both time and money. 

I don't know about you but I am DEFINITELY GUILTY of some of these warning signs!! I now will make more of an effort to assess my emotional state of mind before I go shopping. They do not call it RETAIL THERAPY for no reason!!!

Are you an emotional spender at times?

This content is from moneyusnew.com