It is well known fact that those suffering a bout of depression tend to seek a temporary high by making unnecessary purchases. Unfortunately once the euphoria of buying something new has worn off the debt acquired becomes yet another factor to aggravate depression. For many this has become a vicious cycle of:
depression–>spending–>anxiety.
If this is your overspending trigger, then learn to recognize when your mood is low and avoid shopping while you feel this way. During an interview with dailyfinance.com. James Dion, an industrial psychologist said: “Finding healthy substitutes for the over shopping impulse, such as a regimen of physical activity, is also key.”
On way to counteract this spending trigger is to acquire a high from adding to your savings account. At first it doesn’t sound as exciting as the instant gratification that comes from making a big purchase, but psychotherapist Barton Goldsmith Ph.D says that you can attain true happiness by moving towards a goal. So, for example if you set the goal to have $500 in a savings account, each time you deposit and see the balance go up you’ll receive a jolt of contentment. According to a recent article written by Goldsmith: “This allows your psyche to have something to anticipate, and it creates more serotonin in the brain, which allows you to feel more joy.”
Some over-spenders have never learned to appreciate the sense of achievement that comes from working towards a financial goal. This satisfaction is long lasting and greatly overshadows the ‘band aid’ of splurge shopping.