47: Why Retail Therapy Is Keeping You Broke and How to Get It Under Control
Girl on FIRE
English - January 23, 2022 19:00 - 23 minutes - 11.2 MB - ★★★★★ - 37 ratingsBusiness Education Self-Improvement budgeting etf expenses babysteps budget budgetwithme calculator cashenvelope daveramsey debtfree Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
🎙 Having a bad day? Need some retail therapy to perk you up? You’re not alone. We all need to treat ourselves from time to time. Retail therapy can be good for you, but it can also be super detrimental to your finances if you’re not careful. That doesn’t mean you should stop spending, it just means you need to keep it under control. But how? 🤔
This episode discusses topics like:
🌟 Why you turn towards retail therapy when you’re having a bad day;
🌟 When retail therapy can be damaging to your finances and your life goals; and
🌟 How to keep your spending under control (without giving it up altogether).
Links from this episode:
Episode transcript and show notes: https://www.papermoneyco.com/gof47
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Psychology Today: Why “Retail Therapy” Works: https://www.psychologytoday.com/au/blog/the-why-behind-the-buy/201305/why-retail-therapy-works
Healthline: Retail Therapy: Bad Habit or Mood Booster?: https://www.psychologytoday.com/au/blog/the-why-behind-the-buy/201305/why-retail-therapy-works
Cleveland Clinic: Why Retail “Therapy” Makes You Feel Happier: https://health.clevelandclinic.org/retail-therapy-shopping-compulsion/
Credits:
Producer: Gonzalo Araya
Editor: Gonzalo Araya
Time codes:
00:00 Hello and Welcome!
02:36 What Is Emotional Spending?
03:41 Does Retail Therapy Work and Is It Really That Bad?
08:10 Why Emotional Spending / Retail Therapy Can Be Dangerous to Your Finances
13:12 Sponsor - Camp FIRE
14:19 How to Spot Emotional Spending
16:53 How to Overcome Emotional Overspending
21:39 Next Weeks’ Episode
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The advice shared on Girl on FIRE is general in nature and does not constitute financial advice. The information shared does not consider your individual circumstances. Girl on FIRE exists purely for educational purposes and should not be relied upon to make an investment or financial decision.