Newspaper article Manchester Evening News

Do Your Emotions Rule Your Spending Habits?

Newspaper article Manchester Evening News

Do Your Emotions Rule Your Spending Habits?

Article excerpt

What does it mean if you are prone to splashing the cash when you're bored, or forking out on treats when feeling glum? ABI JACKSON may have the answer...

IF you're always turning to your wallet when you're feeling particularly bored, stressed or happy, you could be an emotional spender. Ever wondered why you're always scraping the last of your pennies together a week before payday? For some people, it could be a warning sign that their emotions are playing a big part in controlling their spending habits.

MONEYSUPERMARKET.com, which has plenty of online tools to help with budgeting over the festive season, teamed up with consumer behaviour experts MindLab to delve into the spending attitudes of 2,500 people - and map the spending choices they made to their state of mind.

The study suggested that some of us are particularly prone to emotional spending, with some people showing mild traits and others more severe ones, depending on whether we're feeling bored, stressed or unhappy.

Pip Heywood, brand director at MONEYSUPERMARKET, says: "Everyone has their reasons for buying that handbag, or booking that weekend away in the country, but they probably don't realise that a situation three hours earlier, unrelated to the purchase, prompted them to buy it."

Dr David Lewis, a chartered psychologist at Mindlab, adds that being aware of the triggers that could be setting particular spending habits off is the first step towards taking control.

The research found four distinct groups of emotional spender - see if you identify with them...

CELEBRATIONIST SPENDER ARE you more likely to open your wallet when life is on a high? If so, you could be a 'celebrationist spender'- one of the people who overspends when they're feeling good.

You may be likely to go shopping, or spend your hard-earned cash, to reward yourself on a good day. …

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