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How to fight a shopping addiction

https://www.getrichslowly.org/shopping-addiction/

getrichslowly.org

How to fight a shopping addiction
Like many people, I've suffered from compulsive spending. A shopping addiction is a scary, dangerous thing. Here are some strategies I've developed to deal with my own shopping addiction -- strategies that may help you, as well.

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Shopping Addiction

Shopping Addiction

Compulsive shopping is when chronic, repetitive buying habits have serious consequences and become a disorder, similar to drug addiction. Conscious spending is one of ways we can overcome this emotional need to buy stuff.

An inability to handle money effectively and lack of impulse control makes us spend like crazy. Our emotions take over and we feel comfort in spending, and we unconsciously spend on stuff we don’t need, creating a vicious circle of debt followed by further compulsive spending.

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Overspenders

People do not even know that they are addicted to shopping and are unable to understand the problem.

Their confused relationship with money is looked upon by them as a symptom of the other problems of their lives. Many victims feel lost and are unable to control themselves out of the addiction consciously.

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Warning Signs Of Shopping Addiction

  • Shopping due to being angry, sad or disappointed.
  • Shopping being the reason for problems or chaos.
  • Having arguments with others regarding spending habits.
  • Not leaving home without the credit card.
  • Buying on credit what cannot be bought by cash.
  • The act of spending causing anxiety and euphoria.
  • Shopping with a gambling mindset.
  • Feeling ashamed, embarrassed or guilty about buying useless stuff.
  • Lying and juggling bills and accounts to be able to spend more.

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Fight Shopping Addiction

  • Stop trying to rationalize credit purchases, getting rid of all the credit cards and switching to cash only. Not even the checkbook or debit card has to be kept handy.
  • Track down every dollar spent, analysing your spending patterns.
  • Understand your mind and the need to shop, training yourself to stop, just like getting over a smoking addiction.
  • Ensure that the temptation areas, like Amazon, or shopping malls, are not easy to access or visit.
  • Remind yourself of your future goals.
  • Ask for help from a close friend, or even professional counselling.

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9 Questions Before Buying Something

Before buying anything, ask yourself:

  1. Is the stuff usable now or will it just get stacked along other unopened stuff?
  2. Does it already exist in my cupboard?
  3. Is there a place to put this at home?
  4. Is paying cash worth for this?
  5. Is a cheaper version available for this item?
  6. Can this item be arranged without actually buying it?
  7. Can it be bought later, or is it really needed today itself?
  8. Are there any better options available that could be bought instead of this?
  9. What will my partner/spouse/parents say about this?

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SIMILAR ARTICLES & IDEAS:

Different types of "shopaholics"

  • Compulsive shoppers: Buying when they are feeling emotional distress.
  • Trophy shoppers: They are always looking for the next great item.
  • ...

Socially acceptable

Shopping can be socially acceptable because consumerism is continually pushed on us in the forms of posters, adverts, and signs.

Shopping is also a way of life: You need food and clothing from stores. Even if you try to stop compulsive buying by avoiding the stores in person, there is still a world of online shopping.

Addiction vs compulsion

Addiction describes trying something, becoming emotionally and physically dependent on it, and then becoming psychologically and physically addicted to it. People who struggle with addiction have explained feeling euphoric, elevated, happy, complete, and whole when they partake in their addiction. Compulsion refers to a specific, intense urge to do something. People who struggle with a compulsion explain feeling immense relief and relaxation from completing behaviors that they feel compelled to do.

2 more ideas

Being Frugal Is Not Cheap

Frugal people do spend money, but want the maximum bang for the buck, without stressing themselves.

Frugality does not mean compromising quality, neglecting your social life, or being a...

Be A Smart Spender

  • Use tools like financial books, podcasts, and online savings groups.
  • Avoid indulging in unnecessary expenses daily, reducing them or finding healthier and more affordable alternatives.
  • Cultivate a healthier attitude and the right mindset towards your finances.
  • Know that small, practical, money-saving actions can compound into better living for you in the long run.

Use Smart Hacks

There are plenty of financial and budgeting tools and apps that can help us manage our funds, keep track of our expenses, and trigger us when we are off-track.

Simple hacks like carrying a debit card or cash instead of a credit card, or deleting our card details from shopping sites can help us avoid spending impulsively.

Keep everything as simple as possible

The more credit cards you have, the more chances you have for identity theft and the more chances you have to miss a payment. The more investment accounts you have, the less attention you can give ...

Don’t ever let your “future self”...

...take care of your current situation.

Your future self might have more income, but it’s also fairly likely that your future self might have less income and you’ll find yourself in a really bad situation. 

Even if your future self is doing well, there are probably going to be other big expenses that you’ll want to deal with at that time, like buying a house.

Focus on...

  • Building an emergency fund: set up an automatic weekly or monthly transfer from your checking account to your savings, then leave the savings alone until an emergency appears.
  • Eliminating high-interest debt: Set up a simple debt repayment plan by organizing your debts by interest rate, then attempt to make a double payment on whatever debt has the highest interest rate.
  • Saving for retirement: It will actually end up being a much smaller burden than you expect,  lifted up by the pleasure of knowing that you’re securing your retirement.