30/05/2022
Thanks to social media, heavy marketing campaigns, shops at every corner, it's become incredibly tempting to surrender to the temptations and end up developing excessive spending habits. While indulging in a bit of retail therapy once in while won't hurt ,the concern is when done too frequently and at the expense of your financial wellbeing.
Indeed, compulsive shopping can be a REAL problem, how to know if you are victim of it? Here the main "symptoms":
✔️ You tend to go shopping when feeling sad, stressed,or to fill an emotional void
✔️ You tend to buy many things you don't need
✔️ You feel good while shopping and regretful afterwards
✔️ You are struggling financially due to your shopping habit
✔️ You've fallen into debt due to excessive spending
If you've ticked the box to all or most of the above, here are some tips to help you break the habit:
1. Identify your triggers: are there certain situations that lead you to shop? Then
find an alternative to cop whether going for a walk, finding a productive hobby, talking to family or a friend about the situation to help ease the emotions you feel
2. Remove the temptations: are there certain social media pages you follow or email campaigns you're subscribe to that lead you unnecessary spending then it is best to unfollow or unsubscribe
3. Set financial goals: by having aspiring goals such as buying a home or launching a business it will help you stay disciplined with your spending
4. Get an accountability partner: this can be a friend, family member or a coach to share your goals with so they can help you focus and stay on track
5. Wait a few days before buying any thing that is not consider a necessity, often you'll either forget it or the urge of buying it will fade out
6. Plan out your spending, especially the big expenses: always use a shopping list and plan ahead by saving for any big expense
If you'd like to get more tips or want to exchange on your current spending challenges, reach out via DM or book a free call through the link in the bio. I'm here to support you 😉.
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