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Shopping vs. Investing: What's better for your mental health?

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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

COPYRIGHT_WI: Published on https://washingtonindependent.com/ebv/shopping-vs-investing-mental-health/ by Rian Mcconnell on 2021-04-30T11:31:50.082Z

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.

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About The Authors

Rian Mcconnell

Rian Mcconnell - Rian is a Villanova University graduate who was born in DuBois, Pennsylvania. He graduated from Thomas Jefferson University in Philadelphia with a medical degree. His residency was at Thomas Jefferson and its associated Wills Eye Hospital, and he finished his education with fellowships in cataract and corneal surgery at the University of Connecticut. He has a vast experience in ophthalmic surgery, with a focus on cataract surgery, corneal transplantation, and laser refractive procedures. He serves on the board of Vision Health International, an agency that provides eye care and surgery to indigent patients in Central and South America, in addition to his surgical practice.

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