Shopping vs. Investing: What's better for your mental health?
Shopping and investing are the two most popular activities on the internet right now. Amidst the pandemic, people resort to online shopping and spending their money on random things they find on e-commerce websites.
Author:Stefano MclaughlinReviewer:Karan EmeryApr 30, 2021125.1K Shares1.6M Views
Shopping and investing are the two most popular activities on the internet right now. Amidst the pandemic, people resort to online shopping and spending their money on random things they find on e-commerce websites. On the one hand, more and more people are showing their interest in investing in different portfolios such as stocks and cryptocurrencies.
Indeed, the world is getting digitized. People are getting more fascinated in the things they can do online. It can’t be denied, people shop and invest to have peace of mind. Some do shopping as a retail therapy while others invest to take care of their mental health in the long run.
So, between shopping and investing, what’s better for your mental health?
What’s Good About Shopping
Convenience
The most important benefit is convenience. Where else can you shop while still in your pajamas at 12 a.m.? You won't have to wait in queues or track down cashiers to assist you with your purchases, and you can finish your shopping in minutes.
Best Prices
Since goods are delivered directly from the producer or seller, there are cheaper offers and better prices available online.
Control
When we go traditional shopping, we always end up spending much more than we intended and purchasing things that aren't exactly what we wanted (but there isn't anything better in the store).
What’s Good About Investing
Passive
Investing is the least "productive" method of market participation. It can be beneficial to those who are interested in the markets but do not devote enough time to them on a regular or weekly basis.
Lesser Taxes
Long-term capital gains tax, which is usually lower than short-term capital gains tax, could be available if you hold a position for more than a year.
Good for long-term
Long-term
Short-term trading can be very complicated for some individuals. Some also assume that predicting short-term movements with consistent precision is difficult. Investing could be a good option for such people.
How Shopping And Investing Affects Your Mental Health
Retail Therapy – Shopping
Making shopping decisions has been shown to help strengthen a sense of personal influence over your surroundings, according to research. It may also help to alleviate depression.
Shopping activates the senses as well. The scent of something new, the bright lights, and the vibrant displays combine to create an imaginative, sensory experience that can transport you away from your daily lives, even if only for a brief moment.
Solving Money Problems – Investing
Being in debt or having to deal with the benefits system can lead to a lot of stress. Money issues will make it difficult to sleep. Money problems may have a negative impact on your social life and relationships. It's possible that you'll feel lonely or alone. But, with investing, your money problems might be solved, especially if you do it long-term.
What's Better In The Long Run
Shopping and investing can help you keep your sanity. But, if you are looking for something that will benefit you in the long run, investing is better. Shopping is only a temporary therapy. If you run out of money to shop, you will have to deal with more mental issues. Investing can solve two things—your money problems and your stress from those money problems. With the right investments, your financial freedom can be for the long term and your mental health can be solved forever.
Stefano Mclaughlin
Author
Stefano Mclaughlin is a Psychologist focused on mental health, emotional well-being, and healthcare policy. He studied Psychology and Public Health at the University of Massachusetts Amherst, gaining a deep understanding of the intersection between mental health and public policy.
Stefano's mission is clear: he aims to destigmatize mental health discussions, improve access to mental healthcare, and promote emotional well-being for all. Drawing from personal experiences with anxiety and depression, Stefano shares real stories to make mental health topics more relatable and less intimidating.
In addition to his advocacy work, Stefano enjoys delving into books, experimenting in the kitchen, and embarking on new adventures. These hobbies fuel his creativity and inspire fresh perspectives for his advocacy work.
Karan Emery
Reviewer
Karan Emery, an accomplished researcher and leader in health sciences, biotechnology, and pharmaceuticals, brings over two decades of experience to the table. Holding a Ph.D. in Pharmaceutical Sciences from Stanford University, Karan's credentials underscore her authority in the field.
With a track record of groundbreaking research and numerous peer-reviewed publications in prestigious journals, Karan's expertise is widely recognized in the scientific community.
Her writing style is characterized by its clarity and meticulous attention to detail, making complex scientific concepts accessible to a broad audience. Apart from her professional endeavors, Karan enjoys cooking, learning about different cultures and languages, watching documentaries, and visiting historical landmarks.
Committed to advancing knowledge and improving health outcomes, Karan Emery continues to make significant contributions to the fields of health, biotechnology, and pharmaceuticals.
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