Treat Yourself: The Hidden Costs of Emotional Spending and How to Take Control

“Treat Yourself”.

That little earworm, turn of phrase and devil on the shoulder, always making itself appear when debating a spending decision.

Sometimes the ‘Treat yourself’ mindset should definitely come into play but more often than not, we use it as an excuse to potentially put ourselves into a financially vulnerable situation.

Often a mindset adopted when using credit to fund lavish purchases, luxury holidays or a lifestyle that just doesn’t match our income. From experience, 9 times out of 10 it comes back to bite us on the a$$ further down the line.

Using credit for that ‘one off’ purchase is often a gateway to more purchases (that we can’t afford). The balance is never paid off, it’s merely chipped away and more items added. We’ve seen community members battle 20+ years of this behaviour. The merry go round of debt that never goes away, until one day you decide enough is enough.

Women and spending can be very emotive. The marketing industry spends billions of pounds on research trying to tap into our emotions to make us part with our hard earned cash – think the John Lewis Christmas ads. Other brands are now hot on their heels, recognising the connection between how we feel and what we spend our money on and where we spend it.

If you’re someone who relies on this particular mindset and you use it every weekend to justify eating out, takeaways and impulsive spending it’s probably time to set yourself some rules as to when you can pull it out the bag!

Life and Death

Two very close family members passed away in the space of a week. One of my parents decided to book a night away for all the family on a whim, to get away from the day to day routine of funeral planning and the general overwhelm of grief. It didn’t matter how much it cost. The idea of getting away with their closest families around them was more important at that moment.

Chanel handbag

This one may split the room. I was heading over to New York for my 21st birthday and I wanted to buy a Chanel handbag to mark the occasion. Bearing in mind, this trip was over 14 years ago. Chanel bags were expensive but hadn’t skyrocketed in price as they have done in recent years. I spotted one at Heathrow Airport Terminal 5 so it was tax free, meaning it was cheaper than buying it on 5th Avenue (iconic I know). I didn’t have the funds saved up for this purchase, it was very much a “You only live once” scenario. Sure enough, it went on a credit card and I spent the next couple of years paying it off. 

As you can see two completely different life events and two different experiences. Some would argue that the Chanel bag really wasn’t necessary but at 21, I was still living at home, had no financial responsibilities and managed to pay it back. Knowing what I know now, I would have 100% created a sinking fund ahead of time to purchase it but we live and we learn.

Do you live in regret at your ‘Treat yourself’ mentality?

By Holly Holland on February 3, 2025 / Budgeting,Other,Saving /
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