Employee Assistance Program Tip Sheet Curbing Emotional Spending
Emotional spending occurs when feelings trigger purchases. Feelings of anger, sadness, excitement, insecurity, stress, or fear can result in spending that might not happen otherwise. If left unchecked this habit can negatively impact long-term financial health. Keep reading for some tips related to ways to guard again this type of spending. Developing awareness around emotions and how they play into financial decisions can be used to manage feelings and guide behavior. Evaluate your spending habits. Do you tend to make purchases when triggered by emotions? What is your financial situation, or in other words, can you afford to make these decisions? Plan out a budget that you refer to before making future decisions. If you find yourself struggling to rein in emotional spending, develop a plan for what to do in the future when you are about to make a decision that involves money. Ask yourself: how am I feeling in this moment; and is it possible that this feeling is leading to my desire to make this purchase? Establish a plan for what to do in the moment if you determine you are feeling emotional. Can you call a friend? Go for a walk? Delay the spending decision until a time when you’re feeling calm and grounded. For assistance with emotional spending, or any other financial guidance you need, reach out to the EAP for a free financial consultation with a highly experienced Money Coach.
Reference: Marter, J. “The Psychology of Emotional Spending”. Psychology Today. Accessed November 20, 2023 from https://www.psychologytoday.com/us/blog/mental-wealth/202305/the-psychology-of-emotional-spending
Your Employee Assistance Program Anytime, any day, you have access to mental health professionals available to connect you with free and confidential services and resources to help you be your best. Simply call to get started today.
WEBSITE: usg.mylifeexpert.com Code: USGCares
24/7/365 PHONE: 1.844.243.4440
Scan this QR code using your phone camera to go directly to the EAP website
The contents of this article and referenced websites, such as text, graphics, images, and other material contained on the site are for informational purposes only. The content is not intended to be a substitute for professional medical advice, diagnosis, or treatment. Always seek the advice of your physician or other qualified health provider with any questions you may have regarding a medical condition. Reliance on any information provided by these websites is solely at your own risk. Acentra™ Health is not responsible for the contents of any “off- site” web page referenced from this server. Acentra Health. All rights reserved.
19
Made with FlippingBook HTML5