(ThyBlackMan.com) “Shop ’til you drop,” might be a clever slogan for advertisers, but it’s also a literal description of what happens when you shop in an attempt to feel happier. A study released this month reveals something that any emotional spender can already tell you: Feeling down can make you go shopping … then shopping ends up leaving you sad again. It’s a vicious cycle and a bad habit. And bad habits lead to stuff you don’t want – like having credit card debt and car loans equal to a year’s salary.
If you want to be truly happy, shopping is not the path to get you there. It isolates you, focuses you on the pursuit of what you don’t have, and tends to be self-focused – all of which are bad for happiness. In my twenties, I was an emotional spender. I hate to admit it, but when I felt down or bored or lonely, I shopped. I’d get a fleeting burst of pleasure. Then I’d soon feel guilty about going further into debt.
Unlike emotional eating, racking up debt is a secret endeavor. While your budget might get tight from excess debt, your clothes don’t get tight from excess pounds. Instead, you can hide your bad habit behind a façade of fabulous clothes, a nice car, and the latest cool gadget. It’s one bad habit that can win you the admiration of the people around you. “She must be doing so well,” people believe. “I mean, look at the nice house they live in,” they wrongly presume.
But deep down, you know the truth. You feel like a fraud, parading around in stuff you can’t afford, living in a house you don’t have the money to furnish, driving a car with maintenance bills too high for your income. The debt feels like a permanent weight perched on your shoulders. This week, I encourage you to evaluate your spending habits and ask yourself:
-Are my money habits making me happier or sadder?
-A year from now, will I be happy about the financial choices I’m making right now or regretful?
Money’s a good thing, when you use it to boost happiness rather than sabotage it. If you’re prone to spend when you’re sad or stressed or frustrated, try this instead:
- Let the emotions wash through.
Honor your negative emotions by feeling them. Rather than immediately trying to numb the pain, instead say, “I’m sad right now. Maybe I need to cry or journal or talk it out with a friend.” Stuffing your emotions is a temporary fix. They’ll soon bubble back up.
- Find an alternative to shopping to help you decrease your stress.
Go for a walk in the park, visit a friend or engage in a favorite (inexpensive!) hobby.
- Have a financial vision.
Knowing where you’re headed is powerful. Write down your financial goals and keep them in front of you. When you have no goal, you can’t see how bad choices are keeping you from what you really want – financial security and freedom. When you feel tempted to spend emotionally, remind yourself of your vision.
I go deeper into the topic of money and happiness when I discuss the happiness trigger I call “financial savvy” in my forthcoming book, Happy Women Live Better: 13 Ways to Trigger Your Happiness Every Day. Pre-order it at: www.bn.com/happywomenlivebetter.
My challenge to you this week:
Don’t let your emotions rule your finances.
Journaling assignment:
Do you ever spend emotionally? When? What alternative will you engage in next time you feel tempted to try to boost your mood by shopping?
Thanks Val for another great issue of discussion. I would think that the drive to spend also is reflective of a person being bi-polar as well. Both men and women are guilty of trying to obtain satisfaction through shopping which is akin to raiding the fridge when one is down in the dumps. I know people who are making hand over fist money, but have nothing but debt to show for it. No investments, savings, or emergency funding seems to always be a consistent factor in delving deep into why they are in this position. It seems to be a need to release stress or to keep up appearances of really having it going on. No one is behind the scenes to see the result of being irresponsible except for those left holding the bag when disaster strikes. I truly wish we had some minority led financial shows that would discuss the issue of what could be done to live a better life without suffering unnecessarily. We have seen numerous examples of people obtaining riches beyond their imagination, only to file bankruptcy in the end. Being accountable in this day and age is a true test of ones character. Most things in this life seem to be taken for granted and spending money that you do not have seems to be the norm. The adage of everybody else is doing it so why can’t I?, is the mindset of the next generation. As a people we have generated billions of dollars and do not have to be dependent on any handouts. However, there are so many that need a hand up. People know that money issues are the primary cause of breakups and misunderstanding among family and friends. Personally, I have experienced nothing but defensive posture when the issue is addressed. As a result the people involved seem to get even more determined to make a point of going deeper into debt. Alot of us did not have a golden spoon situation, and we were just lucky to have a spoon period. Not one of my relatives that have gone on to glory left any substantial sums for taxes or to make life easier for those they left behind. Whenever we try to get together to discuss the issue, it amazes me to see the level of non-participation, which applies to the cost of putting someone in the ground. But like anyplace you go, there will always be one that will do when others fail to act. No one deserves to go the distance alone. Peace out, Papacool.