Americans love to spend money and they love to shop. It shouldn’t be surprising to hear that the average American owns at least five credit cards and that the national debt is more than $10 trillion dollars. Even a potential vice president showcased an affliction for shopping by spending $150,000 dollars on a new campaign trail wardrobe. There is a point where enough is enough and a person’s shopping habits start to affect their financial stability. A shopping addiction is a real illness that needs to be treated.
Do you consider yourself a compulsive spender?
If you can not go to the store just for one thing and actually come out with only that one thing, you may be a compulsive spender. Compulsive spenders have trouble setting spending limits and sticking to budgets, and are the types of people that will buy the first thing they see.
Do you spend money when you are feeling down?
Those that shop to raise their spirits are at higher risk for a shopping addiction than those that do not. When feeling blue, consider going out for a walk, writing in a journal, or doing yoga.
Do you always make excuses about your shopping habits?
When you start hearing yourself saying things like “I had to have it”,” It wasn’t that expensive”, or “I needed if for my GMAT class online “, you are trying to justify the unnecessary purchases. Excessive shopping and spending will cause guilt and false reasoning, a tell-tale sign of a shopping addiction.
Have you unsuccessfully tried to control your spending in the past?
Whenever we have to alter the way we do things, it is a sign that there is a problem with the process. If you’ve tried, unsuccessfully, in the past to change you’re spending habits, which is the most obvious indication that you may be a shopaholic.
