Is your CREDIT CARD your CURE?

Emotions dictating your spending habits? Prioritising your mental health can help to better balance the books

- LOUISE PYNE

What's the first thing you do when you're feeling bored, sad, frustrated or need cheering up? While many of us seek comfort from food, some of us go into autopilot mode when emotions are running high, reaching into our pockets to treat ourselves in order to avoid discomfort that might be plaguing us. But with the spiralling cost of living making our everyday lives more difficult - and a lot more expensive - a continuous cycle of overspending can lead to deep financial waters, which can further impact mental health.

The spending spree high

Worryingly, a recent study found that 63% of women aren't confident their finances can withstand the financial squeeze.* At difficult times like these especially, it's clear that impulsive spending offers a one-way ticket to soaring levels of stress and anxiety.

'Spending becomes dangerous when we use it as a coping mechanism to regulate our emotions - hence the term "emotional spending",' says consultant psychologist Elena Touroni, co-founder of The Chelsea Psychology Clinic. 'Some people shop to mask difficult emotions, such as stress, boredom, anxiety, and low self-esteem.