UI Study Says Loneliness Equates To Overspending at the Holidays
While overspending may not be the worst problem linked to depression and loneliness this time of year, it can certainly be something to beware of in yourself and others.
A study was done by professor Alice Wang at the University of Iowa's Tippie College of Business, who said the main finding of the research was that people who feel lonely buy more impulsively--and maybe compulsively.
A lot of extra holiday activities bring on stress too, which brings on the urge to shop more. CBS2 spoke to associate professor Nicholas Trapp, who said
It can be financial stress from feeling like you have to purchase presents, it can be social interaction stress."
Wang calls it a "friendship deficit". When people don't feel like they have enough close relationships or don't feel fulfilled in the ones they do have, their loneliness leads them to bad habits at the holidays.
Spend time together and make sure it's not filled with pressure and obligations. Be careful not to let the stress and social and cultural norms guide your spending or consumption habits this holiday season.