Inside Out: Which Emotion Governs Your Spending Habits?

If you’re one of those people who loves to take personality quizzes, you’ve probably already taken one about which Inside Out character you are.

But how about which emotion governs your spending habits? Could your spending habits reveal who you are, inside out? (existential crisis mode activated!)

According to a number of behavioural economists, and psychologists, emotions are some of the driving forces behind your spending patterns (enter marketing gurus).

In fact, according to psychologist Adrian Furnham, the rank-order list for emotions people experience when it comes to money is: “anxiety, depression, anger, helplessness, happiness, excitement, envy, resentment."

Now, I hold no promises that this article is about to become a core memory, but I can say that it’ll be one you’ll want to take a closer look at.

Know thyself and your account

Anxiety

You are a planner.

Planning, budgeting, balancing. That’s what you do.

Rainy days don’t exist in your calendar because you already planned for them by saving up.

What if you go on a holiday and aren’t able to spend in the local currency?

Nope. Not happening. You have a Wise account so that you can exchange between 40+ currencies on the go.

Sometimes you get anxious. Especially when you go to a restaurant and you can’t remember how much money you have in your account. What if everyone gets drinks and the bill goes up? And you have to buy a present for your cousin’s birthday. And, oh yeah, Father’s Day is coming up and you promised your dad you would visit. Which probably means another gift…and a train ticket!

But you already planned for that by putting money aside in a Wise Jar.

In fact, you even have a Jar called “Father’s day gift.”

Jarring, isn’t it?

Sadness

You are into therapy. Shopping therapy in particular.

Sometimes the world feels a little blue… You want to lie down on the couch and stare at the ceiling… I get it.

Nothing fills an emotional void like a good old stroll to the shops, or the supermarket, or even a scroll through online shops.

When your mood is down, your spending goes up.

Be it comfort food, a new cottage-corelike dress, a ticket to a football match: it helps remove those blue tinted glasses and gives the world a bit more …colour.

There are some days when you just need to feel your feelings, but remember that you control your emotions and not the other way out.

Sadness can look cute, with her round glasses and blue face, but don’t let her control all of your spending or Anxiety is going to kick in.

She would make you tea and pass along this article on balancing mental health and money so that you can form a healthier relationship with your finances.

Anger

Aren’t you the little rebel?

Spending money for you SCREAMS control. It makes you feel POWERFUL, it gives you a sense of DOMINANCE.

You earn, it's yours to spend, and you don’t want **ANYONE **to tell you how.

(Oh oh someone’s losing their temper again!)

Fear

You are a saver.

What if you need money for a holiday?

What if there is a thunderstorm and the ceiling starts leaking?

What if a zombie apocalypse happens and you need to go into hiding and you need the money? (I think money would be the least of your problems in that case, but to each their own).

There is a lot of uncertainty in life, and just like Anxiety, you like to be prepared and hate overspending.

I have news for you! (no, I promise it’s nothing bad, no need to be afraid).

With Wise, you can save in Jars and avoid the fear of using up your savings.

Joy

You love to treat yourself.

As you should! There is no time like the present and you like to spend money on big experiences and small treats.

A concert? Yes! An interactive game at a museum? Yes!! An ice cream after work? Absolutely!!!

Spending money doesn’t scare you because you know that money comes and goes. You live in the now and love to spend money on core experiences.

Envy

You were just giving the side eye to Joy weren’t you?

FOMO is real and there is noooothing that says you’re missing out quite as much as not being in on the latest trends.

If it’s trendy, you’re buying it.

Whether you can afford something or not, you want in.

You need to buy the summer blouse that everyone’s been wearing.

To quote Ariana Grande: You want it, you got it.

Disgust

If it’s a bargain, you’ll have it.

The thought of money being wasted physically repulses you. Blah.

Why spend the full amount of money on a product you know you can find for half the price (and sometimes more) at a second hand shop?

Thrifting is the new thing, and you think more people should do it.

Embarrassment

Hey you! I promise I won't bite. I know you sometimes feel shame when you spend money on yourself, but you shouldn’t.

You second guess each purchase and ask yourself if buying an argan oil shampoo was really necessary when you could just buy the standard store branded one.

You are allowed to treat yourself - look at Joy! - and while sometimes you feel shame for that, you can always manage your finances by saving so that spending money on yourself doesn’t seem like such a big deal anymore.

Ennui - Boredom

It’s online only for you.

Be it purchases, or money transactions, there is no way you are spending your time going in person for something that can be done online in a matter of seconds. Right?

Mais oui! (it just sounds better in French).

You love financial services, like Wise. Where you can access your accounts, send and receive money, with a touch of your fingertips.

It’s just way more convenient, isn’t it?

Rolls eyes and sends Wise link

Emotions can be hard to navigate.

And while each emotion seems like they are acting on their own, the truth is most of the time they act together (who would have thought, am I right?!).

Your spending habits can sometimes cause a mutiny inside your brain (I’m looking at you Anger), and other times - when priorities align - there are smooth sails while you tap your card for a payment.

It is close to impossible to remove emotions from spending habits. Instead, it’s interesting to try and understand why you are spending in the way you are and which emotion takes charge in different situations.

There are ways to stay in control of your finances by forming positive spending habits instead of being ruled by your emotions. And (not to brag) we’ve got plenty of tips to help you with that:

From Debt to Resilience: Anxiety and Money

From Stigma to Strength: ADHD and Money

Mental health, money and me: Social anxiety and depression

Keep your Finances Healthy

Written by Eleni Socratous