The Connection Between Food and Finances
by Emily Gause, MA, RDN, LDN
How we interact with money and food may point to our relationship with self, our worldviews, values, and at times, our deepest traumas.
“I went shopping recently and then felt guilty because I’m spending too much money, so I decided to take everything back.” My client - seeing me for nutrition therapy - casually shared this piece of information as our session ended, almost as an afterthought. I recalled her reluctance to spend money, her frequent guilt over past purchases, and made a mental note to explore her off-handed comment in a future session.
The Food + Finance Connection
The connection between relationships with food and money is not new. In fact, the term “financial bulimia” was coined to describe the process of compulsive spending followed by immediate efforts to absolve guilt via promptly returning all purchased items.
The food-finance overlap can express itself in other ways as well. Extremely restrictive spending patterns may display a need for control and signal deeper rigidity in thinking. Feeling anxious about spending money on food, drinks, fun, or even necessities like clothing and hygiene products may coincide with anxiety about eating in general. Food hoarding can also show up in this context. Growing up food-deprived and/or financially insecure may lead to stashing food away “just in case” – even if the food never gets eaten.
Other ways of managing or interacting with money include tight budgeting with no room for margin, followed by a compulsive spending spree that leads to guilt, frustration, and the resolve to create a new budget with even tighter margins. Compulsive spending may be a way to seek comfort or nurturance – a way to “feel better” in the moment. Similarly, binge eating can feel compulsive or out of control, with a sense of “spacing out” until after the food is eaten. In both cases, there is often the same precipitating factor: restriction. Severe restriction of food, resources, or fun can lead to compulsive spending OR eating.
Interactions with money OR food can often indicate deeper emotional or physical needs. Often, those needs are much deeper than they may appear on the surface.
Connecting the Dots
Understanding the why behind our interactions with both food and money can provide more insight into our needs. Do we need comfort? Nurturance? Security? Connection? Working on noticing, understanding, and responding to those needs in ways we can access is a necessity. Remember, to need is to be human. Support can be vital when searching for the path out of compulsive/restrictive eating or financial behaviors.
to need is to be human.
Acknowledging the barriers to money management is important as well. Food, housing, and transportation costs have skyrocketed in the past few years, leading many to feel overwhelmed and underinformed on ways to create a strategic money plan.
Getting Practical
In summary, many skills with food and finances are transferable, and there's often a deeper relationship of some kind between the two. Fortunately, steady progress in one area cascades into other areas of life, too. Here are some tips to get started toward food freedom and financial peace…
Budgeting Hacks:
Apps: There are several helpful budgeting apps available to help set up financial goals and stick to them. These include YNAB (You Need a Budget), EveryDollar, or HoneyDue (a budgeting app for couples). Budgeting apps can link directly to your account, which may be quicker than manual budgeting systems.
Spreadsheets: Those who enjoy a more hands-on approach may appreciate creating an individualized spreadsheet with monthly budgeting goals listed. Ideally, you would use a zero-based budgeting method where every dollar of income is accounted for at the end of the month.
Financial advisors: Memphis Nutrition Group often recommends to financial advisors, as they can be incredibly helpful with counseling on budgeting, investing, and getting out of debt. Often, initial consultations are free or very low-cost. Locally, we frequently refer to Benchmark Wealth Management for support in working toward financial goals.
Online resources: Innumerable online resources are designed to help get out of debt and move toward financial freedom. For example, Ramsey Solutions provides books, courses, financial advisors, and tips for debt payoff. If budgeting sounds too bland, consider looking up Ramit Sethi’s podcast or Netflix series “I Will Teach You to be Rich.”
Credit cards: Understanding how credit cards work (interest accrual, how to access credit card benefits, impact to credit score, and the absolute NECESSITY of paying your credit card off completely at the end of the month) is crucial to money management and the avoidance of unnecessary debt. Again, financial advisors are excellent resources in helping manage credit cards and credit card debt.
Tools for Food Freedom:
Consider the tools available to support a nourishing, flexible relationship with food, too!
Many of our clients benefit from keeping a food and feelings log to help provide insight into the food/feelings connection.
Reach out for guidance and support from a Registered Dietitian experienced in Intuitive Eating and eating disorders.
Curate your social media feed to follow non-diet dietitians and body resilience therapists such as @meanttoeat or @bodyimagewithbri.
Check out additional online resources such as Marci Evans’ blog or the Association for Size Diversity and Health.
Planning is key in moving toward food freedom. Planning correlates to the concept of budgeting in that it requires you to look ahead to meet your body’s needs and may involve meal planning, grocery shopping, structuring meals and snacks to fuel sports practices or movement, etc. It involves knowing your specific body’s needs, preferences, and goals. It also requires finances – making space in your budget to purchase meals and snacks to optimize your ability to nourish your body well.
Whatever your goals, whether financial, food, or both, having support and education is key. Asking for help with money management can be as difficult as reaching out for help with your relationship with food, but if you are struggling with either, you deserve support! Reach out to us at Memphis Nutrition Group - We’d love to work with you!