It is no secret that spending can be tied to emotions. The emotions that cause you to spend, known as spending triggers, are unique as the person, but some may include loneliness, boredom, feelings of inadequacy, guilt, shame, depression, frustration and many others.
How do I discover my spending triggers? Identify your spending triggers by first paying attention to your emotions when you spend impulsively. Eventually, the emotions that trigger spending will come to light, and then it can be used as an indicator that the temptation to spend is coming. These triggers can be situational or consistent, so it is important to reassess emotional spending periodically.
How can spending triggers help with spending? Once spending triggers are discovered, they can be used as an early warning signal that spending urges are soon to follow. If we properly recognize triggers, we can plan an alternative action. For example, if loneliness causes you to spend, you can instead invite a friend over for an impromptu game night.
How to use spending triggers for good? Identifying spending triggers are a great way of avoiding emotional spending. Discovering the root cause of spending allows for strategies to form. Avoiding an unwise decision is an accomplishment and adding an incentive can fuel future smart choices.
What else should I know about spending triggers? Most people have more than one trigger, and it is common for some to be worse than others. The key is to find and address the root cause. Though the root cause may be different, spending triggers are normal behavior. It is important to know emotional spending does not have to wreck your budget. Spending triggers alone are not destructive; it is how we react to them that makes the difference.
Understanding spending triggers is a powerful tool for managing your budget and curbing impulsive spending. Recognizing triggers early allows you to take proactive steps, such as finding alternatives or using strategies to avoid emotional spending. While triggers are natural, your response determines their impact on your finances. With mindfulness and planning, you can turn spending triggers into opportunities for smarter financial choices.
Article by Tina Herndon, TFCU Financial Educator
About the author
Tina Herndon began her financial career managing three native not-for-profit loan funds and completed a financial counseling session with each loan closing. She served as the Financial Education and Training Manager for the national nonprofit financial counseling and education service, BALANCE, where one of her responsibilities was main presenter. In 2022, she joined the Financial Empowerment team at Tinker Federal Credit Union (TFCU) as a Financial Educator. Learn more about TFCU’s Financial Education team here.