Emotions are powerful drivers of one’s behaviour, which often impact the day-to-day decisions of a person, including their purchasing choices. As per Kavan Choksi / カヴァン・ チョクシ spending money in response to strong emotions is called emotional spending. Excessive emotional spending can lead to many challenges, including financial distress and relationship conflict. For many, emotional spending is a coping method used to avoid confronting challenging emotions.
Kavan Choksi / カヴァン・ チョクシ sheds light on emotional spending and ways to overcome the habit
Shopping can seem like the perfect way to relax after a long, tiring day at work. Buying a new outfit or indulging in takeout can instantly lift one’s spirits. This behaviour is known as emotional spending and can provide people with a temporary relief from the challenges of life. However, if such spending becomes a regular habit, it might lead to major financial issues, including debt.
Emotional spending occurs when people make purchases not because they need something, but to alter their mood. Rather than sticking to a budget or buying essentials, people engage in emotional spending to escape feelings like sadness, stress, and even boredom. Even though occasional impulse purchases might not be too bad, emotional spending can become quite harmful if it is habitual.
Emotional spenders often do not account for the expenses they incur on impulse, leading to budget overruns. Small, impulsive purchases accumulate over time, and can result in financial strain and even debt. Credit cards make things all the more complicated. A number of emotional spenders depend on credit to finance their purchases, particularly when they lack the cash. Having high dependency on credit may lead to high-interest debt, particularly if the balance grows and only minimum payments are being made. As one’s debt increases, so does their financial stress. Emotional spenders, hence, can be quite vulnerable to financial hardship, which makes it all the more difficult for them to cope with unexpected expenses.
In the opinion of Kavan Choksi / カヴァン・ チョクシ, it is possible to break the cycle of emotional spending with intention and awareness. To address emotional spending, one must identify personal habits, patterns, and emotional triggers that influence purchasing decisions. When individuals become aware of the situations, feelings, or stressors that prompt them to spend impulsively, they are better equipped to respond in a more intentional and controlled manner. This self-awareness lays the foundation for developing healthier financial behaviors and more effective coping mechanisms.
Having a well-planned budget is also important for managing emotional spending. It provides visibility into the income and expenses of a person, helping them to understand exactly where their money is being spent. By categorizing expenses and setting defined limits for non-essential purchases, a budget encourages accountability and promotes more mindful spending choices. Over time, having a strict budget supports better financial discipline and long-term stability.
One must also explore alternative methods for managing emotions. Rather than turning to shopping as a response to stress, boredom, or emotional discomfort, individuals should try to find activities that offer genuine fulfillment and stress relief, like doing yoga, reading books, or spending time with friends.
