Since the rise of social media and people spending more time online and engaging in environments that are desirable, spending habits have changed. It used to be people wanting to keep up with the joneses meaning people in their local community but the aspect of local community has changed. Community may mean your Facebook friends, Instagram network and X. The problem with social media is that people can post anything that does not accurately resemble their life but seems convincing. It can be a temptation for people who are emotional and need things to help them fill the void and feel better.
Moreover, online spending which also includes online shopping that may not be on social media need less effort to spend rather than getting dressed, getting out of your home, starting your car, going for a walk and walking into the store. People who are hoarders and compulsive spenders need extra psychological support to manage their habits as it is not that easy. Moreover, people may want extra help to review their lifestyle and change their habits to improve spending habits. However here are some tips that can help manage the spending. - Do a 5 year budget with projections that includes inflation and focus on your retirement plan to determine how much you need. This can help you identify how much you can spend so when you are online you have a framework to work with. - Practice delayed gratification. When you practice delayed gratification you may realise that you actually don't need the item. You can improve delayed gratification with mindfulness. - Review your lifestyle. Ask yourself questions such as do you really need all this stuff? Is it better to browse than buy? What is the meaning of your life and what would you rather do with the spending money you have? Travel, save for investments, spend time with people? Is the stuff really filling the void or making you feel worse? Unhelpful spending habits can create depression, anxiety, and a rift between family and friends. Shift your focus to a healthier lifestyle and learn to have a better relationship with money.
0 Comments
Leave a Reply. |
AuthorArticles about mental health, money and behavior Archives
February 2024
Categories
All
|