‘Christmas is coming.’

How we feel influences how we spend our money.

Young people in particular, disappointed by their low financial prospects, have swung the other way and started spending. Other surveys point to people spending as a way to get out of emotional lows.

It’s estimated that Brits spend £41billion each year on impulsive, emotionally driven buys. 

As we move into winter, a time when seasonal affective disorder might rear its ugly head, or when fatigue and burnout from heightened socialising and pre-Christmas work deadlines collide, our finances might take more of a hit. When we don’t feel our best, we’re more likely to seek out comfort in the form of spending.

Liz Kelly, therapist and author of This Book Is Cheaper Than Therapy, tells Metro: ‘When we feel down, it’s essential to have compassion for ourselves, so it’s natural to crave some form of comfort. The short-term dopamine rush of a new pair of shoes, a skincare item, or sports gear is enticing.’

The problem is, the credit card bill that later comes might lead to more stress… and so the cycle continues.

Kelly advises her clients to think about their personal values when this temptation hits. If you value health, you might choose to pause and put the money you were considering dropping on a Primark t-shirt towards an exercise class instead. That way, the spending leaves you feel better, not guilty.

Another way in, is to reframe how you perk yourself up when low mood hits. A new survey from the Post Office found that two thirds of those polled actually lift themselves up by transferring money into a savings pot.

By moving £30 into your own holiday fund pot, rather than into a Nando’s takeaway order, you might get to experience the satisfaction, control, and happiness those polled experienced. 

A third of the 2,000 adults polled said it only takes as little as moving in £1 to their savings to get a ‘thrill’, and feel less stressed.

Professor Brit Grosskopf, professor of economics at the University of Exeter, explains that reframing saving as a way to feel better can help us break the needless spending cycle.

‘When we’re feeling low, our brains crave a quick boost of dopamine and buying something can deliver that instant reward. The trouble is, it’s fleeting – the pleasure fades quickly. You can try to replace the ‘dopamine hit’ from spending with something that delivers a more lasting sense of reward, like moving money into savings and watching your progress grow.’

Grosskopf says it’s about retraining the brain to link positive emotions with saving and stability, rather than spending. 

‘A useful first step is to pause and understand what’s really driving the impulse to spend,’ she recommends.

‘Often, it’s not about the item itself, but about soothing an emotion – perhaps stress, boredom, or the need for a sense of control. Naming that emotion can help break the automatic link between how you feel and what you buy.’

Creating space between the impulse and the action is key. Grosskopf says one trick is if you’re browsing online for instance, put the items on a wishlist instead of in the shopping cart – that way you can review this 24 hours later, and likely with a clearer head. 

‘Another helpful thing is to look back over your recent purchases and highlight which ones genuinely added value to your life and which didn’t. You’ll often see clear patterns – for example, spending more after a difficult day – and that awareness alone can shift behaviour.’

The association between spending and joy is deeply ingrained, so don’t be too hard on yourself if it takes time to shake this off in favour of saving. Grosskopf thinks imagining the future, and where you want your finances to be, can help move you out of impulse spending. 

Kelly suggests looking to free or low-cost things with a wellbeing benefit in times of burnout or low mood. That might be a hike, tidying up the possessions you already own, or reaching out to a friend. The urge to shop might go – and your wallet will stay intact.

How we feel influences how we spend our money.

Young people in particular, disappointed by their low financial prospects, have swung the other way and started spending. Other surveys point to people spending as a way to get out of emotional lows.

It’s estimated that Brits spend £41billion each year on impulsive, emotionally driven buys. 

As we move into winter, a time when seasonal affective disorder might rear its ugly head, or when fatigue and burnout from heightened socialising and pre-Christmas work deadlines collide, our finances might take more of a hit. When we don’t feel our best, we’re more likely to seek out comfort in the form of spending.

Liz Kelly, therapist and author of This Book Is Cheaper Than Therapy, tells Metro: ‘When we feel down, it’s essential to have compassion for ourselves, so it’s natural to crave some form of comfort. The short-term dopamine rush of a new pair of shoes, a skincare item, or sports gear is enticing.’

The problem is, the credit card bill that later comes might lead to more stress… and so the cycle continues.

Kelly advises her clients to think about their personal values when this temptation hits. If you value health, you might choose to pause and put the money you were considering dropping on a Primark t-shirt towards an exercise class instead. That way, the spending leaves you feel better, not guilty.

Another way in, is to reframe how you perk yourself up when low mood hits. A new survey from the Post Office found that two thirds of those polled actually lift themselves up by transferring money into a savings pot.

By moving £30 into your own holiday fund pot, rather than into a Nando’s takeaway order, you might get to experience the satisfaction, control, and happiness those polled experienced. 

A third of the 2,000 adults polled said it only takes as little as moving in £1 to their savings to get a ‘thrill’, and feel less stressed.

Professor Brit Grosskopf, professor of economics at the University of Exeter, explains that reframing saving as a way to feel better can help us break the needless spending cycle.

‘When we’re feeling low, our brains crave a quick boost of dopamine and buying something can deliver that instant reward. The trouble is, it’s fleeting – the pleasure fades quickly. You can try to replace the ‘dopamine hit’ from spending with something that delivers a more lasting sense of reward, like moving money into savings and watching your progress grow.’

Grosskopf says it’s about retraining the brain to link positive emotions with saving and stability, rather than spending. 

‘A useful first step is to pause and understand what’s really driving the impulse to spend,’ she recommends.

‘Often, it’s not about the item itself, but about soothing an emotion – perhaps stress, boredom, or the need for a sense of control. Naming that emotion can help break the automatic link between how you feel and what you buy.’

Creating space between the impulse and the action is key. Grosskopf says one trick is if you’re browsing online for instance, put the items on a wishlist instead of in the shopping cart – that way you can review this 24 hours later, and likely with a clearer head. 

‘Another helpful thing is to look back over your recent purchases and highlight which ones genuinely added value to your life and which didn’t. You’ll often see clear patterns – for example, spending more after a difficult day – and that awareness alone can shift behaviour.’

The association between spending and joy is deeply ingrained, so don’t be too hard on yourself if it takes time to shake this off in favour of saving. Grosskopf thinks imagining the future, and where you want your finances to be, can help move you out of impulse spending. 

Kelly suggests looking to free or low-cost things with a wellbeing benefit in times of burnout or low mood. That might be a hike, tidying up the possessions you already own, or reaching out to a friend. The urge to shop might go – and your wallet will stay intact.

If this isn’t going to get us springing to action…

I was working full time, living paycheck to paycheck without any offer from Tom to pay back. 

Small businesses fear the future ahead of the Chancellor’s Autumn Budget in November as tax rises loom.

Ricky King, 35, a sales manager at Goats of the Gorge, a Bristol-based handmade skincare company, said small businesses have been hit hard by the cost-of-living crisis and economic uncertainty.

He said: ‘Our product is skincare – an optional, not a necessary product. We are lucky to maintain customer relations, but we have seen a drop in sales.

‘B2B [business-to-business] sales have dropped, but we are maintaining our efforts. Times are hard, we’ve had shops not able to continue selling our product [and some are] going under.’

Ricky said some shops that previously sold Goats of the Gorge’s products have gone bust – despite owing the company money.

Ahead of next month’s Budget, he urged Chancellor Rachel Reeves to make cuts to corporation tax to ‘help offset the economic impact’ on businesses.

He also said that cutting VAT to around 16-17% would make a ‘massive difference to us’ because the money would instead be reinvested in the business every quarter.

New research by Bibby Financial Services (BFS), a company which supports small businesses, has found that over half (52%) of SMEs believe Government initiatives are failing to protect them.

And more than six in ten (62%) said inflation and high costs are reducing their ability to invest in jobs and growth.

Now, SMEs are demanding low-interest loans, reduced business rates and a reversal of the increase in National Insurance Contributions (NICs) ahead of the Budget.

US tariffs are also cited as impacting profit margins for many small businesses.

To help them reach customers in new markets overseas, nearly a quarter (23%) of survey respondents want the Government to establish new trade agreements, and 19% would like designated support to alleviate the impact of international tariffs.

Jonathan Andrew, chief executive of BFS, said: ‘The current economic climate is hugely challenging for SMEs that are seeing profit margins and spending power eroded, and overheads increasing.

‘On top of continued supply chain pressures both domestically and internationally, these issues pose a significant risk to economic growth, but more importantly, they threaten the survival of thousands of small businesses across the country.’

He added: ‘Businesses are crying out for support and are sending a clear message that the high cost of business experienced in recent years is reaching the boiling point.

‘What they need are practical measures that protect them against mounting cost pressures and volatile international trading policies. This support must be forthcoming if the UK economy is to prosper any time soon.

‘There’s a real opportunity in November for the Chancellor to back Britain’s small businesses with bold measures that cut red tape, roll back the burden of increasing costs and improve the environment for international trade.

‘SMEs need to see these promises turned into concrete actions that restore their confidence to invest, hire and expand rather than just survive.’

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