Oprah's Debt Diet Step 8: Understand Your Spending Issues...and Save!
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Part 1: Why You Shop: Mood Repair
You've heard it called "retail therapy"—it really is a pick-me-up. People shop to fill the gap between who they are and who they want to be. In other words, it's a way to fill a void in your life. You believe life will be better and you will be different if you own those shoes or that pair of pants. It won't.
How to Resist: Understand the forces at work and your particular motivation for buying. Is your trip to your favorite store or website a result of a spat with your spouse or a particularly large number when you stepped on the scale? Did you just get a raise and feel you absolutely deserve to spend some of it immediately? Or, were you feeling lonely and are just so grateful to the solicitous salesperson who seemed to be the first person in a very long time to care what might make you happy? (Remember, that may be true, but it's also part of a salesperson's job.)
Psychologist April Benson gives all of her patients a laminated card with six questions on it to put in their wallet on top of their credit cards. She suggests pausing—a deep breath helps, too—every time you approach the register and asking yourself:
You may just find you no longer want to buy.
Read more about the other reasons people spend:
Entertainment | Habit | Impulse | Compulsive Behavior
Go on to Step 8, Part 2: How to Protect Yourself and Start Saving Now
You've heard it called "retail therapy"—it really is a pick-me-up. People shop to fill the gap between who they are and who they want to be. In other words, it's a way to fill a void in your life. You believe life will be better and you will be different if you own those shoes or that pair of pants. It won't.
How to Resist: Understand the forces at work and your particular motivation for buying. Is your trip to your favorite store or website a result of a spat with your spouse or a particularly large number when you stepped on the scale? Did you just get a raise and feel you absolutely deserve to spend some of it immediately? Or, were you feeling lonely and are just so grateful to the solicitous salesperson who seemed to be the first person in a very long time to care what might make you happy? (Remember, that may be true, but it's also part of a salesperson's job.)
Psychologist April Benson gives all of her patients a laminated card with six questions on it to put in their wallet on top of their credit cards. She suggests pausing—a deep breath helps, too—every time you approach the register and asking yourself:
- Why am I here?
- How do I feel?
- Do I need this?
- What if I wait?
- How will I pay for it?
- Where will I put it?
You may just find you no longer want to buy.
Read more about the other reasons people spend:
Entertainment | Habit | Impulse | Compulsive Behavior
Go on to Step 8, Part 2: How to Protect Yourself and Start Saving Now
Please note: This is general information and is not intended to be legal advice. You should consult with your own financial advisor before making any major financial decisions, including investments or changes to your portfolio, and a qualified legal professional before executing any legal documents or taking any legal action. Harpo Productions, Inc., OWN: Oprah Winfrey Network, Discovery Communications LLC and their affiliated companies and entities are not responsible for any losses, damages or claims that may result from your financial or legal decisions.
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