TheKenOwens.com

"Speaker, Author, Workplace Trainer"

Lock Up Your Credit Card If You Are Depressed


A current study published in Social Psychological and Personality Science reveals that when people are feeling low, depressed, or a lowered sense of self-esteem, they are more likely to make expensive purchases using credit to help make them feel better. This joint study between the London Business School and Cornell University validates why so many credit card companies are touting the use of their cards. There are so many people in depressed states of mind and feeling bad about themselves in this poor economy with the loss of jobs, cars, houses and the inability to find new jobs. That mentality forces people to look at purchasing materialistic items to uplift their sense of self worth. They feel that by owning luxury items that it reassures their value as a person. Look at how many spam emails you get per day from credit card companies offering high interest rates with additional yearly membership fees and relaxed approval policies; they are taking advantage of this dynamic and making millions of dollars off of people who should not be buying items because they can't afford them in the long term.

So what can you do in order to have a more positive self-esteem and get yourself out of a funky depressed state (cheaply)? Here are five low cost things that I came up with which will keep you from over-spending on your credit card:

  1. Listen to some relaxing music.
  2. Exercise. Working out releases natural chemicals in the body which will make you feel better.
  3. See a movie. Go escape in a movie theater and get lost in the fantasy of a good movie.
  4. Nature. Spend a day out in nature: hiking, swimming, or just laying at the beach. Allow the sunshine and fresh air to clear away your negativity and fill your lungs with a rejuvenated energy.
  5. Comedy show. Laughter is the best medicine! Find a funny comedy club in your area and allow your laughter to release all those positive endorphins in your system.


Just remember...NO big credit card purchases!

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