Spending triggers are those moments or feelings that push you to spend money, sometimes without even realising it. Knowing what sets off your spending is important so you can handle your money better.

When you figure out your spending triggers, you start to take control back from those impulsive purchases. For instance, if you know that stress makes you shop, you can try other ways to chill out that don’t involve spending. Or you can learn to manage your stress level better.

Also, understanding your triggers can help you set up a solid budget. You can plan for things without going overboard. Spending triggers vary from person to person, and these triggers are so sharp and pressing. It’s hard to resist them once they trigger you. In fact, if you resist them, you will keep thinking about them until you either decide to go for them or something bigger distracts you.

In this blog, we will look at how to handle these triggers without you feeling bad about them.

How Spending Triggers Affect Your Finances 

A spending trigger is something that prompts you to spend money impulsively. These triggers can be emotional, situational, or social. For some people, a bad day might lead to “retail therapy,” while for others, social outings or peer pressure might push them to buy what they never planned to buy.

Spending triggers are somewhat psychological, and you may not believe this until you start paying attention to it. They often stem from how we seek rewards or comfort. For example, when you buy something new, you can get a boost of happiness or satisfaction. Even though the joy is not eternal, it can last between a few seconds to a few days, then you move on to the next exciting thing.

What’s fascinating is how personal these triggers can be. While one person might splurge when they’re feeling sad, another might do so when celebrating. This is why understanding your own unique triggers is important. You need to recognise the action itself while you equally dig into the ‘why’ behind them. When you do this, you will be able to shed light on the emotional patterns or habits influencing your financial decisions.

Common Type of Spending Triggers 

Emotional Triggers

Your emotions can influence how you spend. Some people use shopping to ease their stress. Some shop when they are happy. It all depends on the individual’s trigger. Sadness can also make some people buy things in an attempt to fill emotional voids with material things. Emotional triggers can be so strong because they push you so hard into buying those things and you will hardly be able to resist the urge until you start paying attention and being in charge of your emotions.

Social Triggers

Social influences like peer pressure, social outings, and the nature of social media, can control how you spend. Being with friends who splurge can make you feel left out unless you do the same. This is dangerous because you can’t compare your income to your friend’s. Someone that earns up to $5,000 monthly can’t be compared to the one who earns $1,500. If you keep letting other people’s spending patterns get to you, it could lead to careless use of credit cards and payday loans. Before you know what’s going on, you already have a mounting credit card debt.

Social media is not even helping matter. They amplify your triggers with targeted ads. Influencer endorsements can also push you towards the latest products, making it difficult to resist spending.

Environmental Triggers

Retail spaces, both physical and online, are strategically designed to make you buy, even against your will. The layout of a mall, the ambiance, and even the scent can entice you to spend more than you planned for. Online shopping environments are equally persuasive, with algorithms designed to present tempting deals and products based on your browsing history. To nail it, the convenience is on another level. Once you click the button, you have already bought the whole world.

How to Manage Spending Triggers 

Once you identify what your triggers are, you can develop strategies to address them. For emotional triggers, find alternative coping mechanisms that don’t involve spending. You can try exercise, your hobbies, or talking to a friend. When social pressures influence your spending, set clear personal boundaries and budgets before social events, and don’t be afraid to suggest more budget-friendly activities.

In environments designed to make you spend, like malls or online shopping sites, try setting a spending limit or making a list of exactly what you need before you go.

Conclusion 

Sometimes, giving yourself to triggers is not bad at all. You don’t have to take life too seriously, a little wiggle room is allowed every once in a while. But you need to know how to balance it so you don’t get into debt 

However, if you’re already deep in debt, there’s solution. Your debt can be reduced by up to 80%, and interest will stop immediately. Call us at (416) 900-2324 to schedule a free consultation with us. Being debt-free feels good!