
Emotional spending is an act of buying something for yourself that you don’t need perhaps don’t even really want, as a result of feeling stressed out, bored, under-appreciated, incompetent, unhappy, or even happy. For instance, when you received a raise or on your birthday. It’s entirely not a bad habit if you can afford to pay for those items seamlessly and have a robust financial plan to cover your goals without having to borrow or struggle to create these plans. Emotional spending could be a destructive shopping spree to compulsive shoppers and could cause continuous damage to one’s wallet if…