Skip to main content

5 Budget-Friendly Alternatives to Retail Therapy

“Retail therapy” is no longer just a phrase used between friends deliberating over an indulgent purchase. It’s now a pervasive part of popular culture, popularized as “treat yourself” from a “Parks and Recreation” episode in which two characters make a tradition of buying things they can’t afford for one day per year.

Consumers have seen this capitalistic call-to-action in everything from advertising campaigns at Audible and Huckberry to articles from publishers as disparate as Refinery29 and Fast Company. While there’s nothing wrong with buying something for yourself during a low or celebratory moment, using shopping as a go-to source for relief creates a dangerous habit and can lead to addictive behavior.

To give yourself a boost without being a bane to your budget, consider these five self-care alternatives to retail therapy.

[See: 8 Big Budgeting Blunders — and How to Fix Them.]

Share your gratitude with others. When you’re feeling down, it’s easy to focus on everything that’s going wrong in your life. The relief provided by acquiring something new is only temporary, but the positive feelings you cultivate through acknowledging your blessings can be far more permanent. You can do this privately or, for better results, share your gratitude with others. In fact, expressing your thanks openly contributes to an uptick in your emotional well-being, according to a study published in the Journal of Clinical Psychology.

Consider how you can best express your gratitude to others when you feel the need to splurge. For example, if someone at work showed you how to expedite a tedious task, thank them for taking the time to make your job easier. You can even thank a parent for instilling in you a certain behavior that has served you well lately. The options are endless when you evaluate the positive in your life and create connections between your blessings and the influence of others.

[See: 10 Foolproof Ways to Reach Your Money Goals.]

Learn breathing exercises. Blowing off some steam by purchasing that handbag you’ve been eyeing is an ineffective and impermanent means of managing your stress. Consider the power of breathing the next time you receive a frustrating email from your boss or get into an argument with a loved one. Practicing abdominal breathing for 20 to 30 minutes daily is the best treatment for stress, calming your mind and bringing focus inward, according to the American Institute of Stress. A regular practice of focused breathing is also known as meditation, the benefits of which are numerous and include stress reduction.

Do a digital detox. The phrase “keeping up with the Joneses” has been around for more than a century, and yet during no other era is it as dangerous as it is today. That’s because social media allows us an intimate glimpse at the lives of people well beyond our neighbors and physical social network. In fact, it’s no coincidence that one of America’s most well-known reality families stars in a program called “Keeping Up With the Kardashians.” What’s more, most members of this wealthy family and other well-to-do celebrities dominate social media with posts celebrating their excess and extravagance. Many product features and recommendations from these celebrities are often the result of paid sponsorship.

The best way to avoid being bombarded with “must-have” products and aspirational lifestyles is to step away from the platforms that promote it, notably social media. Conduct a digital detox, where you sign off from Facebook, Snapchat and Instagram, and use your newfound time in more healthy and productive ways.

[See: How to Live on $13,000 a Year.]

Give to others. Instead of focusing on yourself during a stressful moment, try focusing on someone else. Giving time and attention to others in need can help boost your mood and offer perspective on your current circumstances. Even small gestures like opening the door for someone or helping a child with homework can have mood-boosting benefits, according to a study published in the Clinical Psychological Science journal.

Small gestures of generosity can contribute toward the desire to do more. Research volunteer opportunities in your community through sites such as VolunteerMatch.org or find opportunities through local organizations. Developing a regular habit of giving to others can contribute to building your self-confidence and respect, which can help you better deal with life’s stressors.

Declutter something. Physical clutter can contribute to mental clutter, which increases stress levels. Instead of acquiring new things when you’re stressed or unhappy, look around your space and identify an area that could use some cleansing. This exercise not only helps you become more organized, but also illuminates just how much stuff you already possess. Understanding how much you own can help reduce the desire to acquire more and puts into perspective how unnecessary and unhelpful it can be to deal with your problems through shopping.

More from U.S. News

11 Expenses Destroying Your Budget

10 Ideas for Dating on a Budget

12 Shopping Tricks to Keep You Under Budget

5 Budget-Friendly Alternatives to Retail Therapy originally appeared on usnews.com

Don’t Settle for Student Loans to Pay for Online Education

Online college programs are becoming a more popular choice for prospective students, with one study finding that more than 6 million students enrolled in at least one online course in fall 2015. The popularity of these courses can be attributed in part to their flexibility with working adults' schedules, students' ability to progress more quickly through online programs and, oftentimes, cheaper tuition. [See 10 low-cost online bachelor's programs for out-of-state students.]Online degrees can be beneficial to many college students, but some studies have shown online learners complete their programs at lower rates than students at traditional brick-and-mortar campuses. Individuals with student loans but no degree comprise two-thirds of defaulted borrowers. Though these numbers are not encouraging, just like for traditional programs, there are ways to reduce how much you'll need to borrow for an online program to ensure you won't become one of these statistics. Don't just settle on borrowing student loans to cover the whole cost of your program and living expenses. Instead, start thinking about how to cut costs and cover your balance in different ways, such as the following. -- Grants and scholarships: Even though you are taking an online course, you can still apply and receive grants and scholarships. But your first step should be to complete the Free Application for Federal Student Aid, commonly referred to as the FAFSA, which will allow you to receive a Pell Grant if your expected family contribution is low enough. The EFC criteria and award amounts are adjusted annually, but the 2017-2018 academic year awards range from $606 to $5,920, which could significantly lower the amount you borrow annually. Your next step is to apply for scholarships. You can start by checking online scholarship search engines, such as the Salt Scholarship Search, College Board's BigFuture and Peterson's. But don't forget to take advantage of local organizations and your school's financial aid office. Both may offer scholarships that you can't find with a national scholarship search. [Review these 10 sites to kick off your scholarship search.]For instance, organizations like the Elks Club, Knights of Columbus or the Rotary Club typically offer scholarships annually to local students. Just because you're going to school online doesn't mean you're ineligible. Visit your local library for scholarship listings, and ask around town. You might be surprised how many local organizations offer scholarships. While these scholarships typically aren't large, every little bit counts. Each dollar you receive in a scholarship is a dollar you don't have to borrow and pay interest on. -- Work-study: Another option for online students may be work-study awards. Not all students enrolled in online programs are eligible, but students at some schools -- including, for example, SUNY Empire State College and Liberty University -- are. Work-study awards are not given upfront like scholarships and grants. In most cases, they are an offer to earn up to the awarded amount if you secure an eligible work-study job. While there is a misconception that all work-study jobs must be on campus, students can work for off-campus, nonprofit or public employers as long as the work is in the public's interest. You may be able to work for a for-profit employer if the job is relevant to your course of study. No matter who the outside employer is, it will need to have an established agreement with your college for you to receive work-study funds. Remember, to be eligible for federal financial aid, you must be enrolled and pursuing a degree or certificate. If you're not working toward a credential, Pell Grants and work-study won't be option, but you may still be able to take advantage of private scholarships -- just be sure to read the eligibility criteria carefully. [Explore what to know about financial aid in online programs.]-- Pay as you go: One of the great benefits to enrolling online is the flexible schedule, which can allow you to complete your college coursework around your responsibilities. But prospective students often overlook using their part- or full-time job earnings as an option for paying for college. Almost 80 percent of college students in 2015 worked at least part time while attending classes, according to the National Center for Education Statistics. By budgeting and thinking strategically about your college costs, you can likely reduce your dependence on student loans by paying a portion out of pocket. Many -- but not all -- online programs are less expensive than traditional programs and often have shorter payment periods. Six, eight or 10 weeks are common course durations. Because of the frequency of payments in an online setting, you may be well-placed to pay as you go and possibly avoid borrowing altogether. Attending college online and avoiding student loans may be challenging, but if you are willing to put in the effort, you can limit the amount you need to borrow. More from U.S. News Q&A: Understanding Student Loan Discharge Eligibility Student Loan Refinancing Isn't Right for All Borrowers
Read Next Story