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According to one study[1], 49% of Americans say emotions have caused them to spend more than they can reasonably afford. Understanding what provokes your spending is an essential in cracking down on unnecessary shopping.  

Here’s a breakdown of what drives some people to emotional spending and ways to avoid it.

The Stress Factor: Millennial Woman looking stressed

Arrows point to defining characteristics of profile describing the following:

  • 29% of people, in general, say they’re most likely to overspend due to stress[2]
  • 35% of women say stress causes them to overspend (compared to 24% of men)
  • The largest percent of respondents that admit to emotional spending are millennials at 67%
  • 34% of households with an income less than $50,000 say that overspending is due to stress, compared to 24% of households with an income of $100,000 or more

Tip: If you know stress causes you to shop, keep some other non-spending options — like calling a friend or going for a run — in mind when stress creeps in.

The Excitement Factor: Older man looking excited.

Arrows point to defining characteristics of profile describing the following:

  • 22% of people in general say they’re most likely to overspend due to excitement[3]
  • 26% of men say excitement causes them to overspend (compared to 18% of women)
  • 29% of baby boomers 65 and older admit to emotional spending

Tip: Before spending any money in a store, stop and ask yourself how you’re feeling, and if you really need the item in question. It could help you change your mind.

The Sadness Factor: Person looking sad

Arrows point to defining characteristics of profile describing the following:

  • 13% of people say that sadness causes them to overspend
  • One study found that sadness can trigger a chain of emotions that leads to extravagant tendencies. If you find that you’re about to spend money that you weren’t planning to, take some time to question your motives.

Tip: A little expert help can go a long way. A behavioral therapist can help you deal with underlying issues that are causing you to spend.