How to Avoid Making Impulse Purchases – Knowligent
How to Avoid Making Impulse Purchases

How to Avoid Making Impulse Purchases

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Do you sometimes spend money when you are feeling stressed, depressed, excited or bored? This “emotional spending” is often impulsive and does not align with your financial goals.

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Rather than suppressing or denying these feelings, financial therapist Lindsay Bryan-Podvin says it's much wiser to recognize the underlying emotions, deal with them, and find other ways to meet these emotional needs.

Bryan-Podvin approaches it from a clinical perspective. She says that four key “happy hormones” are released when we shop: oxytocin, dopamine, serotonin, and endorphins. So if you’re struggling with emotional spending, it can help to think about how you can meet the needs that are currently being met by spending money.

For example, let’s look at oxytocin, the “love hormone.” Maybe you go shopping when you’re feeling lonely. But how else can you satisfy your need for connection? Before you spend your money on material things, consider calling a loved one. Or if you can, physical contact is a surefire way to get a boost of oxytocin, according to Harvard Medical School. Taking a yoga class, getting a massage, and spending quality time with a pet are all good ideas. Bryan-Podvin says you can even scroll through old photos on Instagram. We’re not saying this is always healthy, but at least it’s free.