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StitcherThere are times when we think we love spending which is, certainly, far from the truth. This is when we realize that they might be our emotions taking over. Today we are bringing you back to Jen & Jill’s favorite episode about emotionally charged spending with Leslie Tayne, which hopefully will help you overpower your emotions and acknowledge these feelings in a positive and healthier way.
Learning ourselves better empowers and helps us continue on that trajectory of making good, healthy decisions for ourselves.
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Check out some relevant episodes
Leslie H. Tayne, Esq. is a New York debt settlement attorney with nearly 20 years’ experience in the practice area of consumer and business financial debt-related services. She is highly accomplished in negotiation and settlements, and has gone up against large national banks, credit unions, collection agencies and multiple creditor legal representatives.
Emotional Spending
Emotional spending is usually tied to an emotion and you’re doing it for a particular reason rather than doing it as a necessity. It is usually motivated to make a purchase from a particular feeling. Most of the time, there’s an after feeling as well such as the feeling of emptiness, guilt or remorse.
Identifying emotions that trigger spending
Now is not the time to start figuring out why you’re doing what you’re doing. Start looking at your past purchases and analyze those to provide you an insight and reason behind it. Leslie also highly recommends journaling as a way to identify these emotions.
Alternatives to emotional spending
You can find ways for a healthier outlet to distract yourself from a particular feeling– you can take a walk, write about it, do yoga or exercise and more. It is also important to talk about it to someone, a friend or a significant other as these are helpful and healthy ways to get to know yourself better. A lot of it is really being powerful within yourself and your mind to identify and understand your own emotions and what you could do to make changes to it.
How you can recover if you've made an emotional purchase
Do not be hard on yourself wherein you’re constantly beating yourself up. Be kind to yourself by being proud and acknowledging your own emotions. Write down these emotions and the changes you can make going forward. Understand that the recovery process can sometimes take you one step forward and two steps back.
What type of emotional spender are you?
- Leslie: Shop to escape
- Jill: treat yo’ self-er
- Jen: Shop to escape
Find out the different types of emotional spending from this Bustle article.
Get more from Author
Bill of The Week
Thank you Leslie for sharing your bill about your recurring purchases and how you negotiated EVERY. SINGLE. ONE.
Thanks so Much for Listening!
Thanks so much for listening. Many of you know we have a private community where we do monthly money challenges and offer accountability groups. We want to congratulate one of our members for a big win.
Goal Accomplished!
I earned $139. 68 so far this month just by driving around during my free time. I hate sitting at home and my car gets good gas mileage. Win/win!
Congrats! If you want to check out our monthly challenge community head to frugalfriendspodcast.com/club to see what challenge we have coming up next.
And keep leaving us reviews on iTunes or Stitcher, and sending the screenshot to reviews@frugalfriendspodcast.com. And don’t forget to share your favorite quote from the episode by using the hashtag #FrugalFriendsNote. 