Life has a way of getting stressful. Whether it’s deadlines at work, family conflicts, or financial issues, some people have a tendency to actively carry stress around more so than others. And if you fall into that category, you may be in the habit of shopping to relieve stress.
Retail therapy has long been a coping mechanism for consumers, so if it’s a practice you tend to engage in, you’re surely in good company. But stress shopping could also impact your personal finances in a negative way. So if you have a habit of stress shopping, here’s how to break it.
1. Find a hobby or activity that’s conducive to relieving stress
If you tend to shop as a means of stress relief, it’s important to try to replace retail therapy with an activity that won’t cost nearly as much. Maybe there’s a nearby yoga class you could join that costs little (or maybe there’s an online one that’s free). Or maybe you could take up walking, knitting, or another activity that you find relaxing.
It’s okay to spend some money to alleviate stress. But racking up hundreds of dollars a week on a credit card is not a good idea. So if you’ve been going that route, give yourself a stress relief budget and find activities that fall into it.
2. Talk out your stress rather than spend your way through it
Talking to someone about the issues you’re facing might not only be a more cost-effective way to deal with your stress, but also, a more generally effective solution. That someone could be a trusted friend, a relative, or even a mental health professional.
In fact, it could pay to reach out to your health insurance company and see what mental health benefits your plan offers. You may find that you’re able to see a professional at a fairly low cost.
Buying a new shirt one day or a new piece of jewelry another day might make your week less stressful in some regards. But one thing you may want to do is remind yourself that if you continue along that path, you risk ending up with a heaping pile of credit card debt and an empty savings account. And that massive hit to your finances might cause you more stress on a whole than the stress you’re experiencing at present that’s driving you to shop.
As of late 2023, Americans held a total of $995 billion in credit card debt, according to TransUnion. But carrying a credit card balance can be very stressful in its own right. It’s an extra payment you have to make every month, and the longer you carry that debt, the more it costs you. Keep telling yourself that the next time you’re tempted to alleviate stress in the form of buying a new handbag or gadget.
If you’re in the habit of stress shopping, rest assured that it’s not just you. But that also doesn’t make it a good means of coping with stress. Not only might it wreck your finances, but it might also lead to a situation where you’re not getting to the root of the issues causing you that stress. So rather than continue to turn to retail therapy when life gets stressful, try to find a more efficient way to cope.
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