Here’s a look at some strategies that can help you break the cycle of doom spending:
• Create a monthly spending budget.
• Set up a recurring monthly transfer from checking to savings.
• Uncover your spending triggers and work to avoid or eliminate them.
• Practice mindful spending by pausing before each purchase and assessing if it’s truly necessary.
• Seek alternatives for stress relief, such as exercise or hobbies, to replace spending as a coping mechanism.
• Work with a financial advisor or psychologist/therapist