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Plan Well, Retire Well

Saving and investing your money

Stop Overshopping

Do you overshop? I came back from the Association for Financial Planning and Counseling Education's conference energized and excited about everything I learned. One of the best presentations was about stopping overshopping. Dr. April Lane Benson spoke about the difficulties people have with overshopping. With the holiday season upon us, now is good time for us all to think about what drives our shopping behaviors. Being conscious of how and why we shop can help us change our behavior.

In a recent Psychology Today blog, Dr. Benson suggests that people who are trying to change their shopping behavior carry a card with them and answer these six questions before any purchase:

1. Why am I here?
2. How do I feel?
3. Do I need this?
4. What if I wait?
5. How will I pay for it?
6. Where will I put it?

For some people, shopping is an addiction. More and more people are recognizing this, and professional help is available.

While I am not addicted to shopping, at the holidays I find it hard to not overspend. My personal action plan as a result of Dr. Benson's message is to:

1) Know how much I want to spend before I go shopping.

2) Happily enjoy spending this money without any guilt as it will be money I know I can afford to spend.

3) Avoid purchasing those "extras" for myself while I'm out shopping. This tends to be my downfall during the holidays!

What steps do you use to manage your holiday shopping? Send a comment by clicking on my name below.

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