Tag Archive for emotions

4 Surprising Ways Anger Can Cost You Money

4 Surprising Ways Anger Can Cost You Money

4 Surprising Ways Anger Can Cost You MoneyMost people would agree that anger is not a good emotion. Sure, it is natural as a human being to get angry from time to time, but keeping that anger under control is an important part of fitting in well in society.

While controlling your anger ? and getting help for it if necessary ? is important mostly for the health of your relationships and your own personal health, being able to manage your anger can also improve your financial life. Let?s take a look at four surprising ways in which getting angry can cost you money.

Impulsive Purchases

You should already know that impulsive purchases are a quick way to do serious damage to your budget. Anytime you spend a meaningful amount of money, you should think that decision through before you actually make the purchase. Unfortunately, if you let your anger get the best of you, rational thinking might not be on your side.

For instance, let?s say you are angry about a something you had recently purchased which suddenly stopped working. In your anger, you decide to just buy a new model from a different brand right away, rather than seeing if you can have the original item replaced for free. Letting go of your anger and thinking clearly could have saved you money in such a situation.

Breaking Things

If you allow your anger to manifest in physical ways ? such as throwing things in your home or other locations ? you may need to spend money in order to replace the things that you?ve broken. Obviously, it would be best to get this problem under control for non-monetary reasons, but there is a financial issue to be considered here as well.

Trying to Keep Up

This one might not be as obvious as the first two, but it is just as important. Some people feel the need to do what they can to keep up with their friends, neighbors, or relatives in terms of physical possessions.

So, for instance, you might wind up buying an expensive car to keep up with a neighbor, rather than buying a more affordable model. If you notice yourself feeling angry about the things those around you have purchased, do your best to calm down and keep things in perspective.

Are those possessions really that important? Probably not. Saving money and keeping your financial life on track is more important than owning fancy items.

Looking for Satisfaction

The last point on our list is an indirection connection, but you should watch for it if you tend to let your anger get the better of you from time to time. When angry, do you tend to spend more money than when you are feeling content?

If you aren?t sure of the answer to that question, think about it carefully and try to spot any patterns in your spending. Some people will make purchases as a way to seek satisfaction when they are feeling angry, but that is likely to be a losing strategy. Instead, do what you can to get to the bottom of your anger issues and leave spending money out of it.

 

Have you ever let anger cost you money? How else have your emotions affected your finances?

 

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How These 3 Emotions Affect Your Finances

How These 3 Emotions Affect Your Finances

How These 3 Emotions Affect Your FinancesIn an ideal world, the topics of finances and emotions would not mix. You would be able to handle your finances strictly by making clear, logical decisions without any influence from the emotional side of your brain.

Of course, this is not an ideal world. Your emotions are very likely to get in the way of clear decision making from time to time. Human beings are emotional creatures. So, don’t be too hard on yourself if you do make an emotional choice on occasion.

With that said, understanding how emotion can influence your financial decisions is a good way to avoid making major mistakes. The list below contains three emotions that you need to watch out for while dealing with the financial side of life as these emotions affect your finances.

Frustration

If you get frustrated with your financial situation, you might end up taking actions that are not in your best interest over the long term.

For example, if you are not making as money as you would like, you might find yourself investing in risky ventures with the hope of hitting a big return. Of course, that kind of strategy is more likely to lead to you losing money than anything else. But your judgement may be clouded by your feelings of frustration.

If you do find yourself feeling frustrated about your financial life, take a step back and hold off on making any decisions until you have cooled off.

Excitement

While the emotion of excitement is generally a good one, it can still lead to some poor decisions with regard to your financial well-being. Imagine you have just earned a big raise at work thanks to your contributions to a big project ? that?s great news! Any increase in income is going to be a significant boon to your financial life. Of course, that is only true if you manage that money wisely.

If, while feeling excited about your raise, you go out and purchase a new car or make some other big purchase, you will quickly have wiped out your progress. As is the case with any other emotions, it is best to let things settle down before you spend any significant amount of money.

Disappointment

Some people choose to spend money in an effort to feel better about something else that is going on in life. In fact, the term ?retail therapy? has developed to describe this exact kind of behavior. While it might not be the worst thing in the world to take yourself out to dinner after a disappointing day, you don?t want to get too carried away with this kind of spending.

If you fall into a pattern of spending money every time you find yourself disappointed in life, it will be difficult to keep your budget under control as the months go by. Life is naturally filled with ups and downs, and you are going to need to find ways to ride out those waves without the assistance of your credit card.

 

Have you ever had these emotions affect your finances??Have you seen other emotions affect your finances?

 

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