Money Mood ring: How Your Feelings Shape Your Spending Habits
How are we feeling?
Navigating our relationship with money can feel a bit like figuring out a quirky personality. We each have our own money habits, and they’re often tied to feelings we might not even realize are guiding us. Let’s break down some common money behaviors and unpack why we do what we do (even when we know it’s not for the best):
Over-Saving
Sometimes, we hold on to every penny because deep down, there’s a nagging worry about the future. It’s like keeping a secret safety blanket—always there just in case things get tough. If you tend to stash away cash and feel uneasy about spending, it might be your way of guarding against uncertainty.
Emotions: Anxiety, fear of scarcity, and insecurity about the future.
Behavior: Reluctance to spend, hoarding resources as a safety net at the expense of living comfortably or giving yourself permission to treat yo’self.
Over-Spending
On the flip side, there are times when spending feels like a little burst of joy or a way to distract from a bad day. Whether it’s a shopping spree to lift your mood or just a desire to feel in control, over-spending can serve as a quick escape from everyday stress.
Emotions: Stress, a need for control, or feelings of emptiness.
Behavior: Using purchases to momentarily escape negative emotions.
Emotional Spending
Ever find yourself buying something simply because you’re feeling down, lonely, or not quite yourself? Emotional spending is all about trying to fill an emotional gap, even if only temporarily. It’s that moment when a new item seems like it might boost your spirits, even if just for a little while.
Emotions: Sadness, loneliness, or low self-worth.
Behavior: Making purchases as a way to boost mood or seek comfort.
Impulse Buying
We’ve all been there: you walk past a store or scroll through an online sale, and suddenly you’re grabbing things on a whim. Impulse buying is all about instant gratification—sometimes fueled by excitement or a burst of stress relief. It’s spontaneous and fun, but it can sometimes leave you wondering later on if it was really necessary.
Emotions: Instant gratification, excitement, or stress relief.
Behavior: Making spontaneous purchases without much planning.
Financial Fantasist (aka avoidance)
Then there are the days when facing money matters feels overwhelming. Maybe you skip looking at your bank account or dodge those pesky bills because it just feels like too much. This kind of avoidance can be linked to feelings of shame or simply the fear of confronting financial realities. Unfortunately, the longer we pretend these things don’t exist, the worse it gets.
Emotions: Shame, overwhelm, or fear of facing financial realities.
Behavior: Ignoring bills or not tracking spending to avoid anxiety.
Money Procrastination
It’s like Financial Fantasist, but when it comes to making decisions. It might come from feeling overwhelmed or scared of making the wrong choice. Delaying these tasks can feel like a temporary relief, even if it adds stress later and you miss out on so much growth opportunity!
Emotions: Overwhelm or anxiety about making financial decisions.
Behavior: Putting off budgeting, paying bills, or planning for the future because it all feels too daunting.
Financial Fawning
Ever feel like your financial choices are a way to win approval or fit in? Financial fawning is when you might spend or invest in certain ways just to impress others or to feel validated. It’s that urge to have the “right” brand or the latest trend, all in the hopes that it’ll make you feel seen and appreciated.
Emotions: Loneliness, fear, need for validation or acceptance.
Behavior: Spending to impress others or fit in.
Financial Self-Sabotage
Sometimes, deep down you might feel like you don’t really deserve a stable financial future. This can lead to actions that work against your long-term well-being, like ignoring good advice or not planning for the future. It’s a tough spot, but it often comes from a place of low self-worth or guilt.
Emotions: Low self-worth, guilt, or the belief that you don’t deserve financial stability.
Behavior: Engaging in actions that undermine your long-term financial well-being—like avoiding useful advice or ignoring planning opportunities.
Each of these habits comes from a place of genuine emotion. Whether you’re saving out of fear, spending to feel better, or avoiding your finances because it feels too heavy, it’s important to remember that these reactions are completely natural. Recognizing the “why” behind our money moves is a big step towards understanding—and eventually changing—the way we handle money.
So next time you catch yourself over-saving, over-spending, or anything in between, take a moment to ask, “What am I really feeling right now?” Understanding those feelings can be the first step to creating a healthier, happier relationship with your money.
