We cannot deny it, sometimes we forget about saving money and spend based on pure impulse! We hate the regret we feel when we come home and realize that we’ve spent TOO MUCH money on stuff we did not plan to buy in the first place. Money management is a continuous journey, but we all can do it with the right tools and support. What’s your latest emotional spending experience?
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Money Monday Poll: Any Emotional Spending Regrets?
Monday, March 8th, 2010Save More Money and Stop Emotional Spending
Thursday, March 4th, 2010
If you want to save more money and stop emotional spending, just take some time to do some personal reflection… What is it that causes many of us to fall into the trap of spending money when we don’t have to? Are we emotionally spending our hard earned money? I just cringe when I hear people say words or phrases such as, “splurge,” “shopping spree,” or “extra cash.” At the root of all of this type of behavior are our emotions.
For some reason, people attach how they feel to how much money they have or don’t have. Let’s start with the most wealthy people in the world. They spend money because they can. They do not value money as much because they have so much excess, it doesn’t mean that much to them. Yet they build mansions, purchase multiple vehicles, and travel the world without a second thought. Now, I am not knocking them for spending millions of dollars on those types of things; yet, it shows you what they value and how those types of things make them feel better.
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