In today’s society, it is no secret that many people love to overspend on themselves and their family and friends. This gives them an outlet to get rid of their negative emotions as well.
However, sometimes emotions get the better of people and they disrupt their daily lives as well as their social bonds because others don’t want to be associated with overspenders.
Meanwhile, some people just can’t resist the urge to overspend because they feel that it is a sort of therapy for them that can cure them of all mental ailments. However, too much overspending can cause financial trouble as well.
Additionally, in this world, money makes the world go round and people either show desperation, frustration, or fear in the minds and hearts of people around us.
Furthermore, many opinions are also decided based on money such as shallow behavior towards people who don’t have it to discussing the amount of money our partner makes when in a relationship.
Writes psychologist Emily H Sanders on overspending,
All of this provokes a lot of feelings inside of us. When our feelings get spicy, our ability to remain calm and rational decreases- this is very true of our spending and saving. Our relationship with money is often something that needs to be gently looked at; often we find patterns that are evident in other areas of our lives showing up in our finances.
What happens to us when we are overspending? Some reasons why people overspend
Meanwhile, Sanders also gives some pointers on why overspending is done by people in today’s society. So, let’s take a look at some of the reasons why this is happening.
For Festivals or other Occasions
One reason why people tend to overspend on themselves and their friends and family is because of the festival season. Even in India, people during Diwali festivities spend more than they actually need to and end up buying unnecessary things. This is because they feel a bit pressured if they don’t overspend during the festival season.
To Maintain a Comfort Zone for Themselves
Secondly, people like to overspend is because they find comfort and solace in doing so. For many, retail therapy is the best form of relaxation because it helps them forget the worries and anxieties of the world and they get to be themselves. For example, if anyone is suffering from any form of trauma, then retail therapy helps them to overcome this obstacle for a while.
To Keep up with Friends
Thirdly, people want to overspend because they feel that they need to go toe-to-toe with their peers and other family members. This helps them maintain a certain level in society and gives them an amount of respect that they are looking for.
To Get Rid of Anxiety and Avoid Saving Up
This scenario happens with people who may be stuck up in some kind of debt but don’t want to save up in order to overcome that debt. In this case, they end up spending more than they should and totally avoid saving up for their future. This is a rather dangerous cycle to be in because it will ultimately create havoc with such people.
People want themselves to be Categorized as Oniomaniacs
Oniomania or shopping addiction is seen very commonly in people who are overspenders. They may visit shopping centers on a whim, and purchase whatever suits their fancy even when they don’t seem to be needing it. This mania can also cause a lot of mental distress to the sufferer and tank their bank accounts.
So, these are some of the reasons why people overspend in today’s society. Hope you found these reasons interesting.
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