Learn to Control Compulsive Spending
Do you feel trapped by a habit of compulsive spending?
If so, you first need to realize that you are not alone.
Compulsive shopping is a huge problem that ruins many lives every
year. The desire to spend money can overshadow the simple
fact that there is no money to spend. This spending addiction
is cleverly disguised as a way to deal with depression and anxiety.
In reality, compulsive shopping will lead to greater depression
and anxiety.
A typical shopaholic will have the most trouble controlling their
overspending during the Christmas season. A time for joy turns
to a season of depression and regret.
Women that struggle with compulsive shopping often purchase shoes
and clothing they don't need and never use. Men tend to overspend
on big ticket items like large-screen televisions or computer equipment;
only later to wonder "what was I thinking?".
Compulsive spending does not have to be your master.
- Speak with a counselor:
As
with other addictive behaviors your "need to spend" should not
be ignored. Seriously consider seeking out a professional counseling
service. Money spent on controlling your addictive spending
could save you a great deal of money later.
- Phone a friend:
At the very
least have a minimum of one other person hold you accountable
for your spending, especially during holidays or at times of
stress. Be honest and open during times of temptation.
Call your personal lifeline and ask for help when the compulsive
shopping monster appears.
- Pay with cash, check or debit card:
Credit cards are the enemy of anyone struggling with compulsive
spending. When you commit to paying with cash you will
have a much more difficult time making a purchase you cannot
afford. Get rid of credit cards or at least leave them
at home.
- Shop from a list:
Make a
shopping list and commit to sticking to it. Don't "shop"
when at the store or mall. Instead, keep your eyes on
your shopping list and only purchase those items.
- Avoid the seduction isles:
Stores know how to market to a shopaholic and do it quite well.
When at the
grocery store stick to the outside aisle as much
as possible and avoid focusing on end caps and other areas that
may lend themselves to compulsive spending.
The same is true for the mall. Know what you want before
you get there and go directly to it without looking around.
Window shopping will only cause problems. Browsing will
lead to overspending. If you enjoy window shopping then
go to the mall without your wallet.
- Watch what you watch:
Stay
away from any of the home shopping channels on television.
Compulsive spending is easiest when you are at home so avoid
watching things that will stir the desire to spend within you.
- Shop online only with a partner:
There are great deals to be had by shopping via the Internet.
It's also a very easy place to overspend. Commit to only
shop online if you have a friend or family member present.
Ask them to approve purchases before you make them.
- Get some exercise:
A great
way to battle the desire to spend is to talk a walk or do some
other form of exercise. You'll save money and improve
your health.
- Review your budget and goals:
Regularly sit down and remind yourself of your financial goals.
Review your
household budget and recommit to spending according
to your plan. Be encouraged that you are making positive
choices to improve your financial future. Review your
progress and congratulate yourself when you say "no" to compulsive
spending urges.
Whether you call it a spending addiction, compulsive shopping,
or being a shopaholic, the bottom line is that you struggle with
spending money you don't have or can't afford to spend. Don't
give up on yourself and don't stop seeking help.
Know your limitations. Know your stressors. Know your temptations.
All addictions can be overcome by taking the right steps.
Seldom can they be overcome without help. If you struggle
with compulsive spending then
get serious about dealing with the problem before it steals your
dreams. You can stop overspending.
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