The holidays are here. Even though the holiday season can be associated with positive emotions, joy, happiness, and warmth, things can quickly turn around, and our stress levels often increase for several reasons, including overspending.
Money has a direct impact on our lives as a whole, not only materially but also mentally. For many of us, spending more than we can afford during the holiday season can be tempting. This leads to increasing stress levels and causes us to feel down and even ashamed. One thing we should keep in mind is that there’s only a thin line between rational spending and overspending.
How does Overspending Affect Our Mental Well-being?
You may not have yet realized the profound impact that overspending can have on our well-being. And it’s understandable! Not everyone uses the same ways of analyzing their emotions. That’s one of the reasons why therapy can be highly beneficial for many of us. In this part of our blog, we’ll give examples of how overspending affects our mental well-being.
Feeling Guilt and Shame
Guilt and shame are some of the strongest emotions we can experience. There’s a correlation between feelings of guilt and shame and our actions, for example, we try to soothe those feelings by overspending. Guilt and shame can be consuming and very, very intense. One thing about these emotions is that they’re so unpleasant that we wish they would go away, and strangely, the more we try to stop the intrusive thoughts, the more powerful they become.
Financial Struggles
Overspending can lead to financial struggles and debt, which can further exacerbate stress and increase our difficult emotions. Sometimes, this can lead to even more overspending. It’s important to be aware of these feelings and to take steps to prevent them from becoming overwhelming.
Regretting Impulsive Decisions
Buying presents for loved ones or ourselves can increase dopamine levels. The rush of the idea, the pride of finding the perfect gift, the imagined look on their faces when they open it! But that dopamine hit only lasts for a short time. Overspending often leads to regret, as impulsive purchases may not align with our financial goals or our budget. The realization of wasted resources can evoke remorse (and guilt and shame!) creating a cycle of overwhelm and dissatisfaction.
Experiencing Mood Swings
Picture this: You overspend, then the reality hits, and suddenly, you’re on an emotional rollercoaster. Anxiety and guilt take center stage, messing with your mood. The joy of buying fades as financial stress sets in, causing those ups and downs that leave you wondering, “Was it worth it?”
How do you avoid overspending during the holiday season?
Now, let’s give you simple but very impactful tips to help curb overspending.
Create a budget beforehand
Taking steps to manage our spending can help to reduce feelings of guilt and reduce stress. It can also help to improve our financial health, making it easier to focus on other important aspects of our lives.
Talk to someone reliable
When money matters are a stress, don’t hesitate to talk to someone reliable. A friend, family member, or trusted therapist can offer support and perspective. Sharing your concerns lightens the load and might bring helpful insights into managing your finances.
Think before buying
Before swiping that card or clicking “checkout,” take a moment to reflect. Ask yourself if the purchase aligns with your financial goals and is truly necessary. Creating a budget and setting spending limits can also help curb impulsive buying, ensuring your purchases bring value without regrets.
Try other ways to get dopamine
Dopamine doesn’t only come from shopping! Explore alternative activities that bring joy without draining your wallet. Exercise, creative pursuits, or spending quality time with loved ones are fantastic dopamine boosters. Finding fulfillment beyond material possessions helps break the cycle of overspending and fosters lasting happiness.
Wrapping it Up
Identifying and incorporating these activities into your routine this holiday season can help create a more balanced lifestyle and financial well-being. After all, money can’t buy happiness, but it can help you to find it.
If you need help with unpleasant emotions, reach out to Acceptance Nurse Psychotherapy. We can help you identify the underlying causes of your feelings and provide strategies to address them!
