Did you know that one way humans cope with stress is by spending?
According to a joint study out of Rutgers and the University of Miami, stress can lead to both beneficial and reckless consumer behaviors. On one hand, stress can increase people's saving habits to ensure they have money available when needed. On the other hand, people can become involved in reckless spending with the perception that they need more "stuff" in their lives.
So how can you avoid this vicious cycle and prevent the stress? Try meditation or hitting the gym! Already feeling stressed out and need to shop? Give yourself 24 hours before buying that item. Sleep on it and visit it tomorrow; there's a big chance you don't really need it. Also try finding another outlet other than shopping. Channel your stress into other activities like journaling, talking a walk, gardening, or reading.
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At Telhio Credit Union, your financial health matters to us. We are proud to offer helpful resources from Greenpath Financial Wellness and interactive learning courses from Money iQ to help our members feel more confident about their finances.
