x
Breaking News
More () »

Emotional spending: Why you buy when you're stressed and how to stop

Seattle Money Coach Mikelann Valterra shares tips to cut down on purchases made while experiencing certain emotions.

SEATTLE — You might not realize it, but sometimes you buy things based on how you're feeling. It's called "emotional spending."

Seattle Money Coach Mikelann Valterra says there are a couple of reasons why you spend emotionally. 

One involves your brain. When shopping, it can release a feel-good chemical called dopamine, which can take your mind off stress, sadness or boredom. 

"It's not people's imagination that sometimes when they go out shopping – or like, new car shopping, right – it literally can make you feel better because it's this feel-good chemical that's literally surging in your brain because something is new or exciting," said Valterra.

RELATED: Investing 101: Tips for growing your wealth

RELATED: Seattle man shares tips to make money off credit cards

Another reason why people spend emotionally is because of their childhood. Valterra says people who grew up in a household where money was tight sometimes spend more as adults in order to prove that they're doing okay financially.

So, how do you curb your emotional spending? 

Valterra says first identify what you're feeling. Then, figure out if there's a better way to ease that feeling besides spending money. Valterra also suggests putting together a list when you're in a good head-space.

"It'll tune either where you shop or it'll shift where you're shopping so you can actually meet the need that you truly did say you needed and you wanted when you were in that calm space over the weekend," she said.

Another helpful tip: When an unnecessary item catches your eye – step away. Then, come back to it. Valterra says the dopamine that's released in your brain might not hit you as hard.

Before You Leave, Check This Out