Have you ever bought something to improve your mood? Are there any emotional triggers that make you want to spend money? This week’s #CreditChat featured smart tips to help you control your spending this holiday season. The panel included: Ginger- Founder of Girls Just Wanna Have Funds, Paul Moyer, Founder of Saving Freak, Rod Griffin- Director of Public Education at Experian and Mike Delgado- Social Media Community Manager at Experian. The chat featured tips from @SavingFreak, @Rod_Griffin, @Credit_IQ, @care4yourfuture, @suddenlyfrugal, @Kasasa, @CordiaGrad, @FTWCCU, @WeAreMortgages, @MoneyCrashers, @DebbiKing, @jennifercwhite, @KOFETIME, @SFCUNews, @MiriamSCross, @FedChoiceFCU, and @BeverlyHarzog.

1. Ways to Control Emotional Spending
#CreditChat
Wednesdays | 3 p.m. ET

2. Join our #CreditChat every Wednesday at 3 p.m. ET.
This week, the community shared some smart tips to help
control spending during the holiday season.
ex.pn/emospending

3. #CreditChat
Wednesdays | 3 p.m. ET
What is emotional spending?

4. Emotional spending is spending
that is not planned for in advance
and is not necessary.
#CreditChat
Wednesdays | 3 p.m. ET
Paul Moyer
@SavingFreak

5. Spending because it makes you
feel better, especially if funds
were meant for another bill, like
rent.
#CreditChat
Wednesdays | 3 p.m. ET
Rod Griffin
@Rod_Griffin

6. Emotionalspendingiswhenyoupurchasebased
onyouremotions,oftenonthingsyoudon’t
necessarilyneed.
#CreditChat
Wednesdays | 3 p.m. ET
CreditIQ
@Credit_IQ

7. Emotional spending doesn’t only happen
when you’re in a bad mood, it can also
happen when you’re happy or in a good
mood.
#CreditChat
Wednesdays | 3 p.m. ET
CARE
@care4yourfuture

8. Emotional spenders buy in
response to some external stimuli,
not because they “need”
something.
#CreditChat
Wednesdays | 3 p.m. ET
Leah Ingram
@suddenlyfrugal

9. #CreditChat
Wednesdays | 3 p.m. ET
What are some common signs
of emotional spending?

10. Buying items that you do not
need or are not useful. They are a
simply a means of making yourself
feel better.
#CreditChat
Wednesdays | 3 p.m. ET
Paul Moyer
@SavingFreak

11. Impulse buys after a long, hard
day - or a bunch of trinkets piling
up that you don’t actually need.
#CreditChat
Wednesdays | 3 p.m. ET
Miriam Cross
@MiriamSCross

12. Somecommonsignsareseekingimmediate
gratificationafteraneventsaying,“Ideserve
this”withnootherreason.
#CreditChat
Wednesdays | 3 p.m. ET
CARE
@care4yourfuture

13. Are you buying and returning more
items than you keep? Yep, it’s
officially time to say your name and
admit you’re a shopaholic!
#CreditChat
Wednesdays | 3 p.m. ET
Kasasa
@Kasasa

14. If after the spending you are likely
feeling guilty, because you knew what
you did was wrong!
#CreditChat
Wednesdays | 3 p.m. ET
Leah Ingram
@suddenlyfrugal

15. #CreditChat
Wednesdays | 3 p.m. ET
What emotional triggers can lead
to spending unnecessarily?

16. The most common ones are
probably stress, heartbreak, or
simply just having a bad day.
#CreditChat
Wednesdays | 3 p.m. ET
CreditIQ
@Credit_IQ

17. When something good or bad
happens at work or in your personal life
- that can be a trigger for unnecessary
spending.
#CreditChat
Wednesdays | 3 p.m. ET
CARE
@care4yourfuture

18. #CreditChat
Wednesdays | 3 p.m. ET
CordiaGrad
@CordiaGrad
Aroundtheholidays,manyoverspendtotrytomake
everythingperfect.Focusonfriendsandfamily,not
materialisticthings.

19. Sales, rough days in the office,
advertisements - all of these can
trigger emotional spending.
#CreditChat
Wednesdays | 3 p.m. ET
FTWCCU
@FTWCCU

20. Having a pity party over what
other people have, including things
you don’t actually need or want.
#CreditChat
Wednesdays | 3 p.m. ET
Mortages.com
@WeAreMortgages

21. #CreditChat
Wednesdays | 3 p.m. ET
How can emotional spending
affect your credit?

22. If you’re the type to justify spending as
you “deserve it”, you may use credit when
you can’t afford to pay it off.
#CreditChat
Wednesdays | 3 p.m. ET
Money Crashers
@MoneyCrashers

23. Emotional spending can cause you to
rack up massive debt on your credit
cards, [which can result in] not being
able to fully pay off that debt.
#CreditChat
Wednesdays | 3 p.m. ET
CARE
@care4yourfuture

24. #CreditChatDebbi King
@DebbiKing Wednesdays | 3 p.m. ET
Byjackingupyourutilizationandyourdebttoincome
ratio-themorecredityouuse,theloweryourscore.

25. Emotional spending can wreck your
credit. If you don’t have the money, you
might open up credit cards at retail
stores.
#CreditChat
Wednesdays | 3 p.m. ET
Jennifer White
@jennifercwhite

26. Remember, credit is still money.
Even swiping a card uses your
money, not just credit! Save for bills.
#CreditChat
Wednesdays | 3 p.m. ET
KOFE
@KOFETIME

27. #CreditChat
Wednesdays | 3 p.m. ET
How can a budget help you to
avoid emotional spending?

28. A budget can serve as your map
and guide you to make smarter
purchasing decisions.
#CreditChat
Wednesdays | 3 p.m. ET
Money Crashers
@MoneyCrashers

29. Creating a budget serves as a check on
your spending because it forces you to
think how that spending affects your
budget.
#CreditChat
Wednesdays | 3 p.m. ET
CARE
@care4yourfuture

30. #CreditChat
Wednesdays | 3 p.m. ET
Paul Moyer
@SavingFreak
Abudgetputsdownon
paperexactlywhatyou’re
tryingtoaccomplish.Ifyou
sticktothatplan,it’s
impossibletooverspend.

31. A budget can help you keep track of
expenses like rent and student loans,
leaving little room for emotional
spending.
#CreditChat
Wednesdays | 3 p.m. ET
CordiaGrad
@CordiaGrad

32. Budgeting and planning ahead is the
key to keeping yourself in check. Always
know what you need instead of what you
want.
#CreditChat
Wednesdays | 3 p.m. ET
CreditIQ
@Credit_IQ

33. #CreditChat
Wednesdays | 3 p.m. ET
What are some ways to limit the
temptation of emotional spending?

34. It depends on the person, but
shopping in cash or leaving credit
cards at home can help control
spending.
#CreditChat
Wednesdays | 3 p.m. ET
CordiaGrad
@CordiaGrad

35. Find another outlet for your
emotions. It could be cooking or
exercising - something that refocuses
your energy.
#CreditChat
Wednesdays | 3 p.m. ET
Southeast Financial
@SFCUNews

36. Sleeponbigdecisions.
Don’tbuythingswhen
overlyhappy/sad/stressed
andnotthinkingclearly.
Sticktoalist.
#CreditChat
Wednesdays | 3 p.m. ET
Miriam Cross
@MiriamSCross

37. Don’t try to outdo your friend’s
shopping spree or believe ads that
manipulate your emotions.
#CreditChat
Wednesdays | 3 p.m. ET
KOFE
@KOFETIME

38. Move the laptop, tablet and phone
far away from wherever you sleep.
No more late-night purchases!
#CreditChat
Wednesdays | 3 p.m. ET
Mortgages.com
@WeAreMortgages

39. #CreditChat
Wednesdays | 3 p.m. ET
Why is making several small purchases just as
destructive as buying large ticket items?

40. Small purchases add up and are
easier to make (less guilt) so they can
be equally as destructive.
#CreditChat
Wednesdays | 3 p.m. ET
CordiaGrad
@CordiaGrad

41. Small purchases sneak up on
you. Before you know it, you’ve
spent just as much as the big ticket
item.
#CreditChat
Wednesdays | 3 p.m. ET
Paul Moyer
@SavingFreak

42. Smallerpurchases
don’tnecessarilymean
qualitypurchases.
Investmentitemscanbe
betterinthelongrun.
#CreditChat
Wednesdays | 3 p.m. ET
CreditIQ
@Credit_IQ

43. Small purchases add up! Happy hour,
Starbucks, stops at the bakery - those can
be worse than buying an unnecessary
outfit.
#CreditChat
Wednesdays | 3 p.m. ET
FTWCCU
@FTWCCU

44. If you can eat it or drink it, or if it costs
less than $20, use cash to pay for it.
#CreditChat
Wednesdays | 3 p.m. ET
CARE
@care4yourfuture

45. #CreditChat
Wednesdays | 3 p.m. ET
What are some alternate activities you can
do to avoid emotional spending?

46. Instead of shopping, you could cook,
read, exercise or volunteer. Find other
ways to encourage and reward
yourself.
#CreditChat
Wednesdays | 3 p.m. ET
Southeast Financial
@SFCUNews

47. Go to your library and see what you
can find there. New books and music - all
for free - as long as you return them on
time!
#CreditChat
Wednesdays | 3 p.m. ET
FedChoice FCU
@FedChoiceFCU

48. Exercise.Whenyouexercise,yourbodyreleases
endorphins,adrenaline,serotonin,anddopamine.
#CreditChat
Wednesdays | 3 p.m. ET
Paul Moyer
@SavingFreak

49. Time is very underrated. Spending
time with those you care about can
provide a greater emotional boost than
spending money.
#CreditChat
Wednesdays | 3 p.m. ET
CARE
@care4yourfuture

50. Spend time with your pets!
#CreditChat
Wednesdays | 3 p.m. ET
Leah Ingram
@suddenlyfrugal

51. #CreditChat
Wednesdays | 3 p.m. ET
What are some ways you can reward yourself
for achieving goals without going overboard?

52. Have a set amount that you save just
for goal breaker days. This way you can
celebrate without repeating bad habits.
#CreditChat
Wednesdays | 3 p.m. ET
Paul Moyer
@SavingFreak

53. Utilize the free events in your neighborhood.
The free newspaper should have various
activities to replace spending sprees.
#CreditChat
Wednesdays | 3 p.m. ET
KOFE
@KOFETIME

54. Byputtingaway
moneyforabigger
reward,likeanewcar,as
opposedtolittlesplurges
thataddup.
#CreditChat
Wednesdays | 3 p.m. ET
CreditIQ
@Credit_IQ

55. Treat yourself to an experience
instead of an expensive purchase.
Find free events in your community.
#CreditChat
Wednesdays | 3 p.m. ET
CordiaGrad
@CordiaGrad

56. Find a new hobby. Learning to knit or speak
a new language will definitely help you fill
your time and avoid emotional spending.
#CreditChat
Wednesdays | 3 p.m. ET
FedChoice FCU
@FedChoiceFCU

57. #CreditChat
Wednesdays | 3 p.m. ET
What are some final tips you can share to
help avoid emotional spending?

58. Create a budget and stick to it. Get a
cheap/free hobby.
#CreditChat
Wednesdays | 3 p.m. ET
FTWCCU
@FTWCCU

59. Recognize what your emotional triggers
are for emotional spending and figure out
frugal alternatives for these emotions.
#CreditChat
Wednesdays | 3 p.m. ET
CARE
@care4yourfuture

60. Havefinancialgoals.Whentemptedtosplurge,look
atgoalsandrememberwhyyou’resavingmoney.
#CreditChat
Wednesdays | 3 p.m. ET
Beverly Harzog
@BeverlyHarzog

61. Get some accountability. Whether that
is a spouse or a friend, you can get
someone to hold you accountable for your
spending.
#CreditChat
Wednesdays | 3 p.m. ET
Paul Moyer
@SavingFreak

62. Spend with intent, not just because
you’re there. Live within your means
and learn from debt mistakes.
#CreditChat
Wednesdays | 3 p.m. ET
KOFE
@KOFETIME

63. #CreditChat
Wednesdays | 3 p.m. ET
Check out all the resources and tips shared:
ex.pn/emospending

64. #CreditChat
Wednesdays | 3 p.m. ET
Join Us Every Wednesday at 3 p.m. ET.
experian.com/creditchat

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