5 Reasons Why Women Spend

According to Professor Karen Pine, author of "Sheconomics," 79% of women shop to "cheer up." As a small business coach for women, I can attest that this figure is a reliable representation of what is happening in many women's finances. Emotional spending is on the uptick despite the downturn in the economy. For some women, this kind of reckless spending may be evidence of a deeper problem. Learn the top five reasons why women spend and examine your own spending habits.

Depression Spending

Depression can vary from mild to severe and is not a joking matter. Binge-shopping, bulk buying and hoarding may be signs of an emotional problem. Monitor your checkbook and credit card and look for personal shopping trends that may show proof of depression spending. If you see a spike in personal spending after a break up, loss of a family member or family turmoil, you may be depressed. Seek professional help from your physician before you go into debt.

Pick Me Up

Not everyone who shops to excess is clinically depressed. Many women describe a shopping spree as a good way to give themselves a "pick me up." Shopping for an emotional lift is a one of the top five ways women spend money.

Trend Seeker

Years ago, families used to try to "keep up with the Joneses." This was a metaphor for the wealthy family down the street. Today, some women think it is their duty to keep up with Hollywood starlets, spoiled heiresses or fashion designers like Kimora Lee. If you feel you must stay trendy at all costs, you are a trend-seeking shopper.

Competitive Shopping

Women are as competitive as men in many ways, including shopping. Forget the fluffy ideas of women wearing aprons, sipping tea at lawn parties. If you have ever been to a Black Friday sale you know what competitive shopping looks like. It is wild and raucous. Some women only shop during these heavy duty sales. Fighting for carts, sprinting through the aisles, getting the last bargains is a type of "high" for some ladies.

Revenge Spending

The number five reason women spend is for revenge. This type of spending occurs in relationships. Spending becomes a way for women to protest or express her anger to her partner. You would think revenge spending occurred only when the spouse cheats or does some other type of deplorable behavior, but this is not true. If she feels ignore, unappreciated or abandoned the insecure woman may spend to feel empowered. She'll get her partner's attention when the credit card bill comes in.