Emotional spending occurs when you buy something you don’t need and, in some cases, don’t even really want, as a result of feeling stressed out, bored, under-appreciated, incompetent, unhappy, or any number of other emotions. In fact, we even spend emotionally when we’re happy – what did you buy yourself the last time you got a raise? There’s nothing wrong with buying yourself nice things from time to time as long as you can afford them and your finances are in order, but if you’re spending more than you’d like to on non-necessities or are struggling to find the cash to pay the bills or pay down your credit card debt, learning to recognize and curb your emotional spending can be an important tool. While avoiding emotional spending completely is probably not a realistic goal for most people, there are some steps you can take to decrease the damage it does to your wallet. We will welcome some suggestions on these steps.
However, if you are possessing the credit card of your hubby, these rules do not apply.