According to the Illinois Institute for Addiction Recovery, four or more of the following money habits indicates a problem with shopping or spending:
- Shopping of spending money as a result of being disappointed, angry or scared.
- Shopping/spending habits causing emotional distress or chaos in one’s life.
- Having arguments with others regarding shopping or spending habits.
- Spending money causes a rush of euphoria and anxiety at the same time.
- Spending or shopping feels like a reckless or forbidden act.
- Feeling guilty, ashamed, embarrassed or confused after shopping or spending money.
- Many purchases are never used.
- Lying to others about what was bought or how much money was spent.
- Thinking excessively about money.
- Spending a lot of time juggling accounts and bills to accommodate spending.
An addiction to spending is a scary, dangerous thing. Like other addictions, it causes victims to feel lost, out of control. Those who have never suffered from compulsive spending cannot understand the problem. They don’t know what it’s like to see something and feel the urge to buy it now. They don’t know the rush from shopping, and the subsequent nausea from the guilt of having spent more money they do not have.
Coping with compulsive spending
Below here are six steps you can take now to put a stop to compulsive spending:
1. Cut up your credit cards. Do it today.
2. Only carry cash. Don’t use creditcard or checkbook. Don’t even use a debit card. Inconvenient? Absolutely, but that’s the point. You’ve got to make sacrifices.
3. Track every penny you spend.
4. Play mind games. Ask yourself: “Is this a want or a need?” Try to discover what is motivating the purchase.
5. Avoid temptation. Avoid the places where you’d normally spend. The best way to avoid spending money is to not enter the shop. If you tend to spend money at big department stores, then stay out of them.
6. Ask for help. Beating an addiction can be tough when you’re going it alone. Seek support from your friends and family. Ask your spouse to help (And be open when they call you on your actions — don’t get angry.)
The good news is you can overcome this. You can break free from emotional spending. The bad news is that it’s going to take work. It won’t happen overnight. You’ll make mistakes, and you’ll backslide. When you do, don’t give up. Don’t beat yourself up because you bought a new purse. You’re just a human. Keep focused on your long-term goal, and resolve to do better next time.
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Quiz : Are you a shopaholic?
