Bleeding Money: Could PMS Leave You Penniless?
By admin
Do you blame your reoccurring shopping sprees on your weakness for shoes? Well, according to a recent study in the Journal of Consumer Psychology, your penchant for pumps may have more to do with biology than psychology.
When researchers asked 59 women to record their purchases, beauty routines, clothing choices, and diets, for 35 days, they found a strong correlation between each woman’s spending patterns and the phase of her reproductive cycle. Why? The authors believe that the varying hormone levels associated with the phases of a woman’s menstrual cycle may shape her food- and appearance-related consumption behaviors.
The findings support a larger 2010 study published in the journal Personality and Individual Differences, in which researchers analyzed the survey responses of 322 women and found that dysfunctional financial behaviors—like impulse buying and overspending—tend to increase throughout the menstrual cycle, with a peak in out-of-control spending during the days leading up to your period. The explanation: The same hormone fluctuations that lead to common PMS symptoms like mood swings, sugar cravings, and decreased concentration, may also contribute to impulsive financial decision-making, according to the study authors.
So what’s a premenstrual, shoe-loving gal to do? Make a plan! Follow these tips to ensure your monthly hormonal shifts don’t show up on your monthly bank statement:
Log your expenses.
For at least one month, track your expenses each day and take note of the day you start your period. This self-monitoring exercise will tell you whether you have a tendency to engage in reckless premenstrual spending. “Awareness is the first step,” says study author Karen Pine, Ph.D, psychology professor and co-author of Flex: Do Something Different. “It’s surprising how many women are simply unaware of how their spending patterns vary according to their phase of cycle.”
Institute a cash-only policy. Decide how much money you can afford to blow on extras like clothes and other treats each week, and carry only that amount with you. Pine even suggests leaving your credit cards at home, particularly on days when you know you’re more likely to shop. “With a cash-only regimen, your spending is less likely to go out of control,” she says.
Enlist a shopping buddy. Confess your spending struggles to a trusted friend or family member, and bring them with you on your shopping trips, suggests Ryan Howell, Ph.D, psychology professor and co-founder of BeyondThePurchase.org. A shopping supervisor can hold you accountable and help prevent you from dropping cash on stuff you don’t need… like a fifth pair of black ballet flats.
Think before you swipe. Pausing before you decide to make a purchase may spell the difference between frugal and frivolous. If you find yourself shopping solo, Howell recommends stopping and asking yourself, “Do I really need this?” before making a purchase. “We find that people make so many poor choices with their money when they spend without any conscientious thought,” he says.
Treat your body right. Your health should always be a top priority, but Pine says it’s especially important to take care of yourself during the premenstrual phase of your cycle. Besides eating nutritious foods and exercising regularly, she recommends logging enough shut-eye and cutting back on caffeine and alcohol, both of which may exacerbate PMS. “These steps should help to minimize premenstrual symptoms and boost your ability to cope with your shopping urges,” she says.
Out of sight, out of closet. Simply laying eyes on an object of desire can be enough to trigger indulgence (chocolate cake, anyone?), so avoiding your favorite stores and shopping sites on the days before your period may be your best defense against senseless splurges. Howell and Pine both recommend making a list of alternative activities—like dancing, going for a run, or hanging out with friends—that will boost your mood and minimize your compulsion to spend.
More from WH:
4 Money Mistake You Can’t Afford to Make
Fascinating Facts About Your Period
The Benefits of Shopping
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