How to manage emotional spending

How to manage emotional spending (Photo: iStock)

Financial discipline is not for the faint-hearted. We can plan, budget and lay out sound investment strategies all day long, but when it comes to following through, something happens.

You realise that this goes beyond impulse buying and that there is a distinct pattern of spending designed to regulate emotional states. This could be in response to stress, boredom, sadness, loneliness or even as a form of self-reward after achieving something.