We live in an information age in which advertisements influence our spending habits.  We are swarmed with advertisements on new products and services on the television, radio, billboards, newspapers, magazines, leaflets and the internet.

Advertising has become very successful especially with emotional spenders who buy items they don’t need, but take pleasure in owing them as a temporary outlet for stress, depression, momentary unhappiness and boredom. It is no wonder that emotional spenders spend to either make themselves feel happy, successful and attractive, or to be entertained in moments of boredom.

On the flipside, it is interesting to note that we are creatures of emotion who succumb to spending even when we are happy. When was the last time you gave yourself or family a treat when you were given a pay raise or promotion? When was the last time you threw a party to celebrate your birthday?

There is nothing wrong with pampering or rewarding yourself through splurging on luxury items once in a while, but if you are spending way too often and too much on non-essential items, and that’s resulted in credit card debt or loss of savings, it is time to check and recognise your spending habits. Undeniably, such momentary phases of weakness that prompt us to overspend occur when our emotions fluctuate, thereby driving us to partake in activities like shopping to counteract our negativity.

Below are methods you can adopt to cut down on emotional spending to prevent yourself from falling into a continuous spiral of debt:

Tip #1 – Think before you act

An effective way to cut down on emotional spending is to avoid making impulsive purchases. Give yourself a day or two to reflect on the reasons for buying the item you’ve come across at an online or offline store. Ask yourself the following questions:

• Do you really need the item?
• Can you afford to buy it without using your credit card?
• Can you find a substitute for it?

After much pondering, you may find that you may not need the item after all, and let go of the thought of purchasing it when your mind is preoccupied with more important concerns.

Tip #2 – Stay away from the mall

If you know that you are vulnerable to sale signs at window displays, stay away from the mall or from the computer. Cook your favourite meal and invite a friend over, participate in a sporting activity like roller blading, or go for a picnic at a nearby park that doesn’t cost a dime. Occupy yourself with things that make you happy during moments of depression, or engage in inexpensive chill out activities that allow you to de-stress.

Tip #3 – Limit your exposure to advertisements

The urge for a sudden need for a particular product or service is suppressed if you are less aware of what are available in the market. This means that you need to stay away from excessive exposure to advertisements by adopting the following methods:

• operate the fast-forward option of the remote control to avoid television advertisements during programme intervals
• unsubscribe to product catalogues offline or promotional emails from your favourite stores
• discard all advertisement leaflets found in your mailbox straight away
• avoid buying magazines that contain a huge number of advertisements

Tip #4 – Give yourself constant reminders

Refrain from emotional spending by giving yourself personal reminders. Sticking post-it notes on the fridge bearing the words ‘Exercise when stressed’ or ‘Watch a feel-good DVD when depressed’ may help you to stay focused on non-shopping related activities. Making a short list of financial priorities and placing it in conspicuous areas around the house is an effective method of keeping you away from the stores during emotional periods.

Tip #5 – Acknowledge successes

Keeping score of your financial victories is another way to curb emotional spending. Record each time you avoid emotional spending on an Excel sheet or in a diary. Once you have achieved a targeted quota of successes, give yourself a little treat like having tea and scones at a nearby café or buying your favourite Frappuccino at the local coffee joint.

Ensure that the amount spent on celebrating your victory is minimal, to avoid defeating your purpose in your saving attempts. This acknowledgement of successes is a form of encouragement that helps you achieve your financial goal. As a result, you will see a gradual decrease in your credit card debt or a steady increase in bank balance.

All of us are victims of emotional spending in one way or another.  Though it is inevitable to condition ourselves to switch emotions fleetingly, we can however adopt strategies to avoid succumbing to spending urges tied to extreme moments of unhappiness, boredom or stress.

As long as we acknowledge and understand that our spending habits often revolve around periods of extreme emotions, curbing an unhealthy spending habit becomes manageable through will-power and a conscious effort in working towards a financial goal.

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