Oh yes! you need retail therapy. Yes! you must plan for it too

No! I am not saying that you have a problem and that you must seek professional help from a therapist. Nor am I saying therapists now offer their consultations in a piecemeal! What I am basically talking about here is the exciting and therapeutic practice of shopping to make one feel more cheerful and relaxed. It is shopping with the primary purpose of improving your mood or disposition, especially during periods of stress and depression. Now, this is what I mean by retail therapy. I bet you would enjoy that.

To date, “We are going shopping!” is the most exciting and enlivening statement anyone could possibly hear. Why? Because shopping is what makes up life! It has the power both to raise our expectations and boost our moods. Everything we need to use in the home, school or office must be purchased. Therefore, shopping has become an integral part of our lives. So, it is safe to say that most of our lifestyle behaviour revolves around shopping.

Why retail therapy?

You may wonder whether retail therapy is truly a sustainable practice, given that the things that you buy are mostly planned or budgeted for. Or you may think that this is just another phrase coined by impulse buyers to make themselves feel good about their spontaneous and unnecessary spending habits. To address your thoughts, please consider the following:

1. As humans, we have a need for shopping.
2. As humans, it’s not possible for all our purchases to be planned or budgeted for, not all of what we purchase is planned or budgeted for
3. We also, as humans, have the urge to purchase things off the shelf, at times.
4. As humans, some of our pains/lack of satisfaction can be traced to the lack of material things.
5. A study by Verywellmind states that, people are more likely to feel relieved of stress when they shop.
6. People who retail shop are more likely to live happy lives than those who don’t.

As humans, we all need to give ourselves treats from time to time. We need to reward ourselves with nice things, especially when we hit a milestone. We need to ease off the stress and that is where retail therapy comes in. With this in mind, I hope you can see why most times, shopping for both things that we need and things we desire could be considered a necessary evil. And why a retail therapy allowance should not be excluded from your yearly budget.

READ ALSO: 5 ways successful people think when investing in Nigerian Mutual Funds

How to go about it

What is suggested is that you should have a list of things you need or want. Draw up the list at the beginning of each year in a planner and review it at the end of January. Then assign items to each particular month of the year, in their order of importance. It is advisable to do this so that at the end of the day, you don’t regret your purchases or find yourself acquiring items that you will not use. After all, the idea of retail shopping is to have fun while shopping and to help keep your spirit alive and motivated. So, you must be pleased with every purchase while at it.

Funding

Just like we plan and prepare for a holiday, education or purchasing a home, planning for a retail therapy can be of great benefit to those who don’t believe in shopping on the spot. But it doesn’t have to be something too expensive that counts as retail therapy. Even the tiniest of things that we buy to improve our moods are considered ‘’retail therapy items.’’ 

There are several ways you can save to achieve your retail therapy dream. Since I am Itty of Coronation Conversations, I would recommend the best one. Also, being the one who loves to indulge in a shopping spree from time to time, I think I could be trusted to know. So, I hereby recommend to you Mutual Funds! The new method of savings and investments that have hit the block. It is the new black that your friends may not want you to know about.

What more? It is the new way to multiply your money so that you can live the life this article advises you to live.

Why is this the new black?

Because we are helping you through mutual funds to save money towards your big day. Mutual funds, put simply, are a resource that pools money from several investors and invests in securities such as stocks, bonds and short-term debt.

Also, just in case you need more clarity on how this works, I’ll break down the types of mutual funds that we have which you must consider.

1. Equity funds: In this type of mutual fund, your money will be principally invested in stocks. Equity funds are also known as stock funds. Not one person do I know who thought negatively about investing in stocks.

• Fixed-income funds: In this type of mutual fund, your investments are made in high-quality fixed income assets such as government loans, treasury bills, and money markets. This also, is another helper.

• Money market funds: This is a type of mutual fund that invests in cash, cash equivalents and short-term debt securities. Another good option to consider when trying to set money aside for retail therapy.

Do you really need retail therapy?

Yes, you do! Everyone does! As a matter of fact, even the guy down the street who works in a pawn shop or the one who hawks water does. You should look at retail therapy as an activity that helps to alleviate stress, enliven your mood or act as a life saver when you feel bored, rather than another avenue to squander money. I urge you to agree with me on this so you can start applying retail therapy to improve your wellbeing.

But you must plan for it because you are not a sports star or some celebrity who has stacks of cash lying idle somewhere. Mutual Fund is the way to make more money, part of which could be set aside for retail therapy. I am here to help you take the necessary first step.

What’s next?

Your newfound love is Coronation Mutual Funds. This love is here to help you attain more wealth, which comes in handy for this new additional hobby of yours – that is retail therapy.

And what did we hear about mutual funds? It is just how profitable and low risk they can be. So, think about your investment as a commitment that can yield you interest which can be used for shopping.

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