Shopping guilt is a real thing, but it shouldn’t be.
That’s why we created this mini-guide to show you what spending guilt is and how to use money without immediately regretting it.
I get it. I had issues spending my hard-earned money and feeling good about it for years. But after I applied the practices in the post below, I instantly lowered my anxiety when it came to purchasing things.
So if you want to see how the people around you can affect how you feel about spending money, or how a free money management app like Personal Captial can help you eliminate those money spending stomach butterflies…
Check out the easy read below. 😊
What Is Spending Guilt?
Spending guilt is the feeling of remorse or regret that comes after spending money on something.
It usually manifests as a physical sensation in the gut and is generally accompanied by nausea, sweating, or a racing heart.
The feeling is so intense that they will avoid spending money altogether for some people.
Why Do I Feel Guilty Spending Money?
Bad Past Experience
One of the most common reasons people feel guilty about spending money is a bad experience.
Maybe you had money problems in the past and felt the financial repercussions for months or even years afterward.
Or maybe you made an impulse purchase for instant gratification, but you later regretted it.
This could make you develop a scarcity mindset and negatively affect your current and future financial situation.
Whatever the case may be, if you’ve had a negative experience with spending in the past, it’s only natural that you would feel some apprehension about doing it again.
Living Paycheck To Paycheck
Another reason people feel guilty about spending money is that they live paycheck to paycheck and can’t afford to make any non-essential purchases.
Suppose you’re constantly worrying about how you’ll make ends meet. In that case, it won’t be easy to enjoy spending money on anything.
You might even feel guilty spending money on necessities like food and rent.
FOMO
FOMO, or the fear of missing out, is also a significant contributor to spending guilt.
If you see everyone around you buying things and having fun, it’s only natural that you want to do the same.
But if you can’t afford it, that’s where the guilt comes in, and you feel bad.
You might feel like you’re not good enough or missing out on something great.
No Savings
Having no savings is another common cause of spending guilt.
Suppose you don’t have an emergency fund. In that case, it can be tough to justify spending money on anything that isn’t necessary.
Every time you make a purchase, you’ll be worried about what would happen if you got injured. For example, your take-home pay was reduced, or you had to unexpectedly pay for a hefty repair.
No Supportive Friends Or Family
If you don’t have any supportive friends or family, spending money guilt-free can be very difficult.
Suppose the people around you always tell you that you can’t afford something or that you’re wasting your money. In that case, it will be tough to feel good about spending.
How Do I Stop Feeling Guilty After Spending Money?
1. Budget
One of the best ways to stop feeling guilty after spending money is to create a budget.
You’ll know exactly how much money you have to spend each month when you have a budget.
You can use this information to create a spending plan that ensures you only spend money on what you need and can afford.
If you’re not sure how to create a budget, plenty of resources are available online and in libraries.
You can also find helpful budgeting apps like Personal Capital.
Personal Capital is a free money management app that helps you track your entire networth, provides free advice from professionals, and helps you develop a custom-tailored financial plan.
(It doesn’t just help with guilt free-spending, it’s also a great tool to help you achieve financial independence. 😁)
So what are you waiting for?
Start tracking your income and get your spending habits in order to go do some fun things with your friends!
2. Save Money
One of the best benefits of saving early or in general is that it can help eliminate that dreaded shopping guilt feeling you have.
If you have a healthy savings account, you’ll be less likely to feel guilty about making purchases. Because you’ll know you have the financial cushion to fall back on if something goes wrong.
To start saving money, you can create a budget (as mentioned above) and be aware that you must automatically transfer a fixed amount of money into your bank account each month.
You can also cut back on unnecessary expenses, giving you more money to put towards savings.
Saving early has many benefits,
3. Use Cash Only
If you tend to overspend when you use a credit or debit card, try using cash only.
When you physically hand over your hard-earned cash for something, you’re much more likely to think twice about the purchase.
It’s a nice little money mindset trick.
You can also set a spending limit for yourself.
Tell yourself that you’re only going to spend a certain amount of cash each day, week, or month.
When the cash is gone, you’re done spending.
4. Don’t Impulse Purchase
It’s also important to avoid impulse purchases.
Before you buy something, ask yourself if you need it.
Put it back on the shelf and walk away if the answer is no.
You can also try waiting 24 hours before making a purchase.
If you still want the item after a day has passed, you can buy it.
But most of the time, you’ll find that you don’t need it after all.
5. Start A Side Hustle
If you’re finding it challenging to spend money guilt-free, one of the best things you can do is start generating more income.
There are many ways to make extra money, but the easiest is to start a blog.
(And if you use Bluehost, you can create your website for only $2.95 a month!)
And making extra cash is not the only benefit; you’ll also be able to write off your expenses.
This can help you reduce your taxable income and save money on taxes.
6. Invest Money
Another way to stop feeling guilty about spending money is to invest it.
When you’re investing your money, you’re using it to make more money.
This should help you reach your financial goals quicker and build wealth over time.
There are many different ways to invest your money, but if you want a more passive approach, stock investing with the Robinhood app might be your best bet.
Robinhood is a simple investment app that lets you invest with as little as $1, even if you are on the go.
Happy investing!
7. Spend Money on Experiences, Not Things
One of the best ways to stop feeling guilty about spending money is to focus on experiences instead of things.
Instead of buying a new piece of clothing or the latest gadget, spend your money on an experience like a concert, a vacation, or a class.
These experiences will last much longer than any material possession, and you’re likely to have many happy memories associated with them.
8. Talk To Someone
If you’re having difficulty overcoming your spending guilt, talk to someone about it.
Whether it’s a friend, family member, or financial advisor, talking to someone can help you work through your feelings and figure out a plan to stop feeling guilty.
Spending guilt is a common issue, but it doesn’t have to control your life.
9. Positive Affirmations
One of the best ways to stop feeling guilty about spending money is to remind yourself of your positive affirmations.
When you have positive affirmations, you’re telling yourself that you’re worthy and deserving of good things.
Some examples of positive affirmations include “I am abundant,” “I am prosperous,” and “I am worthy of love and happiness.”
By reminding yourself of these affirmations, you’ll start to believe them and feel better about spending money.
10. Create A Gratitude List
Another way to stop feeling guilty about spending money is to create a gratitude list in a journal.
When you’re grateful for what you have, you’re less likely to focus on what you don’t have.
Start by making a list of all the things you’re grateful for in your life.
You can include things like your health, family, friends, job, and home.
Every time you start to feel guilty about spending money, read through your list and remember all the good things you have in your life.
11. Give Your Loved Ones A Hug
One of the best ways to stop feeling guilty about spending money is to hug your loved ones.
Hugs have been shown to increase serotonin, a neurotransmitter known as the “feel-good” hormone.
By giving and receiving hugs, you’ll increase your serotonin levels and start to feel better about yourself.
Plus, it’s a great way to show your loved ones how much you care about them. 😊
FAQ
What Is Money Guilt?
Money guilt is the feeling of guilt or shame that comes from spending money. This can happen when you spend money on yourself, make a large purchase, or compare your spending to others. When you feel bad or feel guilty about using your money, you’re creating a barrier to financial success.
Is It Normal To Hate Spending Money?
Yes, it’s normal to feel discomfort when spending money. However, if you constantly feel guilty or ashamed of your spending, it may be a sign that you have a problem with money guilt.
Is It OK To Buy Things For Yourself?
Yes, it’s perfectly fine to buy things for yourself. However, it’s important to treat yourself occasionally, like after hard work. Just be sure that you’re not spending money that you don’t have or can’t afford to pay because that can hinder other financial goals.
Can Spending Money Make You Happy?
Yes, spending money can make you happy. Research has shown that people who spend money on experiences are happier than those who spend money on things. So, if you’re looking for a way to boost your happiness, focus on spending your money on experiences instead of material possessions.
What Is Gift Guilt?
Gift guilt is the feeling of guilt or shame that comes from giving gifts. This can happen when you give a gift that’s not well-received, spend too much money on a gift, or compare your gift-giving to others. Gift guilt can be a significant barrier to happiness.
Summary
It’s time to stop feeling guilty about spending money and start enjoying life!
We hope these tips have given you some ideas on how to do just that.
By following a few simple guidelines, you can start freeing up your mental bandwidth so you can focus on the things that really matter.
And if at any point you feel like you need more help, don’t hesitate to reach out for support. We’re here to help you live your best life without all the guilt!
What tip will you use to stop feeling bad about spending money?
Will you start a budget with Personal Capital?
Will you make some extra income by starting a blog with Bluehost?
Hello! I'm Charles. 1st gen millionaire, real estate investor, health enthusiast, and military veteran. In the last 17 years, I have managed billions of dollars of resources for the Department of Defense. Created financial management plans that enabled fellow service members to get out of thousands of dollars in debt and tailored wellness plans that helped people reverse and eliminate high-blood pressure, pre-diabetes, and obesity. Learn more about me here.