5 Ways to Curb Emotional Spending


Bangalore: How often do you go out for shopping? If you are making too many shopping trips in a month, then maybe you are one of those emotional shoppers who buy everything and anything they like even if they don’t really need it. Such kind of shopping behavior always ends it regrets and financial disasters. Be smart shoppers and follow these simple 5 tips for controlling emotional spending, as reported by investopedia.com.

Impulse Buys

If you want to reduce the damage which emotional spending causes to your wallet, then avoid making impulsive purchases. Whenever you are strolling around a shopping mall or browsing any online shopping sites, you may feel several times an urge to buy an item. On such an occasion, you should never make any immediate purchase, instead wait at least for 24 hours, if not longer, to decide whether you want to buy it or not.  All your shopping decision should be made after considering two things i.e. ‘do you need it’ and ‘can you afford’. Things which you don’t need, never buy them and things which you need but can’t afford, save money to buy them later.

Also Read: 10 Most Generous Wealthy Indians