Rescue Your Wallet From Rage Spending
Today, let's consider how it feels to succumb to anger and throw money at experiences or things we think can help us to get out of the mood.
Do you know a thing or two about that?
Believe me, it happens a lot.
Follow the discussion through the linked sub-topics below:
Rage Spending
When last did you allow hot temper to push you into buying what you never planned to?
Were you simply driven by a strong impulse to prove something to somebody, or just to "show them!" (deviance)?
Or, did you feel furious because someone insulted you for not possessing something - and you felt you ought to avoid this embarrassment by getting it, no matter what it costs?
Whatever the motive behind your action. the undeniable fact is that temper is at work here.
That's the trigger, and it involves making purchases angrily and without rational consideration.
To describe it more aptly, its product is called Rage Spending, being an action expressing extreme forcefulness.
In every outlook, it is purely an emotional activity and reeks of impulsiveness all through.
Usually it is intended to serve as a mechanism for us to cope with negative strong emotions.
How well that works and whether that's good or bad we shall soon unravel in the next few paragraphs.
The Characteristics
How do you identify the triggers that are moderating your emotional buying spree?
What may we regard as the common features of rage spending?
1. Items are bought in a spontaneous manner - born out of sudden decisions, without proper thought or consideration, only acting on whims.
2. Spending money or acquiring items without prior planning or goal-setting.
3. Money is spent based on emotions and not on what is rational
4. Embarking on expenditures which are clearly not budget-friendly
5. Indiscriminately purchasing items that are irrelevant and obviously cannot be regarded as genuine needs.
6. Using money to get things that one ends up regretting much later
7. The longer the duration of anger or rage lasts, the greater the amount of money being expended grows
8. It focuses more on buying to secure immediate pleasure or relief (gratification) and ignores long-term financial well-being or goals.
9. It targets purchase of varieties of things, ranging from insignificant ones to those that are very expensive.
The Sources
Rage Spending can emanate from several negative emotions.
Here are some of them:
1. Hot temper.
Temperamental actions describe a person whose emotions are highly unstable and who swings suddenly from one mood to another.
It often triggers unsound and irrational buying.
2. Lack of self-confidence is another source.
It can negatively motivate someone to embark on spending for material possession in order to prove a point to somebody and to cover feelings of inadequacy
3. Thirdly, the desperate need for validation sometimes push people to indulge in rage spending.
By impulsively buying expensive materials, they believe they could attract recognition, acknowledgement, acceptance, and validity or legitimacy from others.
For example, they will acquire luxurious items as a means of confirming their self-worth and to court public acceptance.
4. In addition, a strong sentiment of envy is another factor.
It is a feeling of discontentment and jealousy born out of the desire to possess similar or superior assets someone else (possibly a rival) already has.
As such, it could become an irresistible cause of temperamental spending.
5. Moreover, nursing negative pride is no doubt a strong motivation, as it naturally breeds arrogance and overreaction.
This could lead to angry buying, especially in situations whereby one feels underrated or disadvantaged.
6. Likewise, intolerance is a powerful fuel for angry actions - including emotional spending.
7. As a matter of fact, being petty is a major aspect of angry purchasing.
When one pays too much attention to trivial and unimportant matters, he or she may overspend or buy unnecessary things to prove superiority or to subdue somebody
8. Further, impulsive attitudes or habits also constitute a major reason for unplanned rage-driven financial activities.
A person who naturally reacts from impulse already has his or her hands full and even a little mix of anger could result to irrational shopping sprees.
9. Similarly, even at the best of times, frustration has never been easy for anyone to handle.
A frustrated person can be easily annoyed, lashing out any way any how, spending to purchase to make the self feel better.
10. One last point: emotional instability and lack of self-control are additional strong factors which stimulate compulsive procurement attitudes.
The Financial Implications
Having come this far, we may wish to ask:
What are the financial implications of rage buying?
1. Compulsive buying or spending (shopping addiction), which is a behavioral disorder that's characterized by an irresistible urge to embark on excessive and avoidable purchases.
2. Faulty decision-making leading to wrong financial moves.
For instance, unwanted expenses will be incurred through unwise disbursement.
3. Expending money without planning beforehand.
This entails making purchases without drawing up a shopping list, and there's practically no rational purpose or justification for the expenditures.
4. Expectedly, there will be clutter and waste. This means accumulating items that only take up space, resources and energy, yet are more or less material junks by being largely unwanted and unneeded.
5. That is hardly the end of it.
Money is also being wasted through frequent misapplication of funds and scarce resources
6. Actually, to say that there would be a crying wallet is figurative only to the extent of its personification.
In reality, the wallet would go empty or nearly so, as it is being depleted through emotional shopping sprees.
7. In a related development, associated financial troubles may soon encroach as well.
Prominent among these are insolvency, debts, inability to stay liquid, financial embarrassment -
to mention just a few.
8. Loss of assets,.
This is a possible scenario which may arise from one's inability to repay outstanding loans and debts and consequent seizure of collateral (assets).
9. Failure to save money due to spending habit
Thus, it increases one's chances of failure and of missing promising opportunities, particularly because of shortage or outright lack of funds.
Practical Steps To Avert Rage Spending
Given all our discoveries so far, what is the way forward?
How can we successfully neutralize the triggers we have identified?
1. I can't think of anything that's worth doing when one is angry.
It doesn't really matter what it concerns - talking, playing, dealing, reacting, relationships, whatever!
The bottom line is, if you do it in anger, you are bound to mess things up.
Ditto for committing your money under the influence of rage.
Anger and Common Sense are not on the same wavelength.
Take my word for it: don't buy anything when you are angry.
If you do, be prepared to bear the consequences of the errors, miscalculations, and shortsightedness of rage spending.
2. Don't indulge in revenge buying.
You will not gain anything of real value if you commit funds to acquire items because you feel injustice or wrongdoing has been inflicted on you and you want to retaliate by amassing possessions.
That can only punch a huge hole right through your wallet.
3. There's a wrong or right reason to do something.
Don't buy it for the wrong reasons.
Absolutely don't rush into a shopping frenzy to get hold of a product because you were insulted over not having it and you've made a snappy furious decision that you must get it RIGHT NOW.
That's a sure bet that money's going down the drain.
4. If you ever thought of it, you will discover that money (wealth) is never sentimental: it doesn't stay with those who don't work to earn it.
If you are not investing it for a healthy business competition, most certainly don't use it for aimless and profitless shopping to compete with somebody whom you feel has embarrassed or challenged you.
5. Are you going through some kind or phase of frustration right now and you are boiling to get out of it?
Believe me, it's not possible to spend your way out of it.
Work off its steam in some other rational manner.
For example:
Walk it out.
Jog it out.
Yoga it out.
Talk it over with an experienced friend or colleague.
Bottom line: don't spend or buy out of frustration
6. Likewise, if you are nursing resentment for anyone, it's definitely not a good mood to go shopping on.
You are probably not going to make correct decisions or buy for the right reasons, so don't do it.
Use other means to deal with your resentment instead.
For example, you may:
- immerse yourself in an hobby
- listen to good therapeutic music
- address the root cause of the resentment
- talk to somebody about it
7. Are you feeling superior?
That's a huge burden you are inflicting upon yourself, because now you have to do things to prove it to whoever you believe you are superior to.
It can compel you to expend money under emotional strains and provocation, like purchasing luxury items or designer material, etc, simply to show somebody that you "are better".
I suggest we stop doing this, because it can only deplete our wallet and render us truly "inferior".
The best way to go is to manage your funds well by controlling your spending habit.
When you are in effective charge of your finances, that's the true "superiority".
8. As a matter of priority, you should identify anger triggers.
These could be situations, people, or events that spark anger in you, thereby causing you to procure impulsively.
Thereafter, learn to tolerate and manage your interactions with them.
As it is commonly said: "To be forewarned is to be forearmed", which means that once you know that something's about to happen, you are better positioned to prepare for it.
Through this method you should be able to handle your emotions and resist angry reactions.
9. Additionally, you can apply anger-reducing techniques to prevent furious buying reactions.
Healthy physical activities and anger outlets assist us to calm down.
Some of these methods include:
- deep breathing,
- progressive muscle relaxation
- writing in a journal
- talking to trusted friends
10. Finally, if all else fails from your own efforts, then you should seek professional support.
Register for affordable anger management therapies.
That's the sure way to nail the challenge.
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