It is often said shopping is Singaporeans' favourite pastime. It appears that way, with advertising everywhere .
Advertisers spend millions of dollars trying to persuade us that a certain product or service can make us successful, prevent boredom, attract sexual partners, and so on. As the best designed ads try to manipulate our spending habits, it is not surprising that emotional spending can become a problem.
You are buying emotionally. when you buy something you don't need and, in some cases, don't even really want, as a result of feeling stressed, bored, under-appreciated, incompetent, unhappy, or any number of other emotions.
We often make decisions based on approximate rules of thumb, not strict logic, relying on mental emotional filters to understand and respond to events. These filters, in turn use anecdotes and stereotypes, not logic.
Once you are conscious of your shopping habits, you'll develop greater control over your finances and you'll be able to enjoy what you are doing without the worry, dread or guilt of having spent too much.
And according to Deirdre Barratt, a leading American psychologist teaching at Harvard Medical School, it only takes two weeks to change a habit. For two weeks, she says, consciously change your habit. Giving changing your eating habits as an example, she recommends reminding yourself to have a salad instead of a cheeseburger every time you go to the cafeteria for two weeks. After two weeks,if you don't think about it, you will choose the salad over the cheeseburger.
Below are some suggestions on how you can be more conscious of your spending, and thereby cutting back on emotional spending.
Impulse Buys
One way to cut down on emotional spending is to avoid making impulse purchases. This means more than buying sweets at the supermarket checkout counter. When you find yourself wanting to buy something you didn't already want before you got there, don't buy it.
Tell yourself that you make a decision about whether to buy the item tomorrow. Bet you, you often forget about the item as soon as you leave the store.
Avoid Temptation
Limit the situations that tempt you to spend. One way is to only go shopping when you need something. You can further avoid temptation, by drawing up a list, so that you don't need to go shopping (on-line or off-line) that often.
If you find yourself spending more when a particular person is with you, try to schedule free or inexpensive activities with that person, like going for a walk or meeting at a local coffee shop.
Avoid whenever practical reading, listening or watching ads. The more “offers” you read, listen to or watch, the more you will tempted. Of course it isn't always possible, you can't leave your car when an ad comes on the radio. But when watching television or listening to the radio at home, you could go make a cup of coffee, go to the toilet, etc when the ad comes on.
Get help
Tell family and close friends that you're trying to spend less, and that you want them to give you a hard time when they see you making an unnecessary purchase.
Remind yourself constantly
Make a list of your financial priorities and put it in a place where you'll see it often, like the refrigerator door or the bathroom mirror . Make a second copy for your wallet or purse, If Put small sticky notes on your credit cards to remind yourself of what you're saving up for. If all this sounds too in your face, I got this tip from an American website.
Do something different
If you use shopping as a form of entertainment or as a distraction, try to identify what you're feeling when you want to buy something and choose a more constructive behaviour that will help you deal with that emotion.
For example, if you've had a bad day at work, call a friend and moan instead of shopping. If you're feeling stressed, take a walk. If you must have to buy something, make it inexpensive. But these small items add up! So beware.
Remember, be aware of your actions.