Are You an Emotional Spender?
By Jean Chatzky
Shopping is fun for most women, but it comes with two price
tags: one financial and one emotional. We spend more than we can afford and
then beat ourselves up about it. But you can break this cycle (and save
yourself a lot of money). Before buying anything more expensive than a
newspaper, ask yourself the following four crucial questions. If your answers
are more emotional than rational, you should probably shop less. Keep reading
for our advice.
What am I doing here? If you have a reason to buy-you're out of paper
towels or your best friend just had a baby-fine. But if you're shopping just
because...then think of something else to do.
How do I feel? A shopping expedition shouldn't feel frantic or
pressured. If it does, it's time to put away your wallet, go home, and chill.
Watch bad cable. Take a bubble bath. Just don't shop.
Is what I'm reaching for something I really need? In other words,
what happens if I don't buy it? Remember: Unlike needs, wants are optional. If
you want something and don't get it, your health will not fail and your family
won't go hungry.
What happens if I do buy it? Perhaps purchasing the item you've
spotted will make you happy-for a little while. But when the bill eventually
rolls in, you may find yourself feeling guilty or regretful.
Ready to stop impulse buying? Here are five strategies for shopping
- Cancel the store credit card. That will keep retailers from wooing you with
enticing catalogs and e-mail offers. Plus, store cards are a notoriously bad
deal, with interest rates that are, on average, double those of bank
- Give yourself other escapes. Exercise is a good choice since, like shopping,
it causes endorphins (your body's feel-good chemicals) to kick in. But if
working out is not your idea of fun, pick something else that you can do
regularly: Read, knit, call your mom. The key is to decide in advance, so when
you feel like hitting the mall, you'll go to your backup plan instead.
- Break the habits that encourage you to shop. As you leave work each day, do
you pass your favorite store on the way to the car? If so, find a new parking
- Steer clear of dressing rooms. Research shows that if you try clothing on,
you're more likely to buy it.
- Leave the plastic at home. Carry only the cash you're willing to spend that
day. If you can't pay the bill, then you're "just looking." And that
can be a great way to spend the day-without spending a lot of money.