Spending as an Emotional Crutch



There are two kinds of emotional spending. One is the purchase that is so personally appealing to you that it plays on your emotions. The other is the use of money for emotional comfort. This mistake addresses the latter and I'll address the former in the next section. Although not all women are equally likely to fall victim to this mistake, they are more likely than men to engage in it. The following comment received from one of the women we surveyed is reflective of many we received. Would buy things based on my emotional state at the time. If I was sad, or feeling rejected, or wanting a boyfriend, I would go out and purchase something with the hope of feeling better. Ten pairs of shoes. Let's make it fifteen! A new blouse to impress a guy I had my eye on still didn't work. Emotional spending is a short-term fix to a long-term problem. Author and motivational speaker Valerie Burton reminds us, if you remain on a path controlled by your emotions you will never enjoy the emotional, spiritual, and financial life you were meant to have. The first step to eliminating poor financial choices and making smart financial choices is to identify the emotions that are sabotaging you. Consider whether any of these emotions are the real culprit for you anger, jealousy, loneliness, fear, shame, or hopelessness. The inability to address or perhaps even identify the emotions that cause you to make emotional purchases contributes significantly to your continuing down this expensive path. That's why each coaching tip is more psychologically than behaviorally oriented.