Don’t Shop Till All Your Money Drops

You can have personal finance articles such as this one delivered directly to your email, automatically - Receive regular updates via email.

Alternatively, you can receive updates via your favorite RSS Reader - Receive regular updates via RSS Reader.

Shopoholism is a condition where the mind pulls the trigger to shoot itself, the bank balance and the social life. Typically, a shopoholic shops till he drops and then he gets up again and keeps on going, and the cycle continues — yeah, shopoholism is a dangerous addiction that can end up ruining finances and isolating you from family and friends.

So, are you a shopoholic? Here’s a small test that can help you find out:

1. Do you shop when you feel angry, nervous or sad?
2. Do your shopping habits cause conflicts in your family?
3. Do you get a sense of insecurity when you find you aren’t carrying a credit card?
4. Do you buy anything on credit even if you have the cash to pay for it?
5. Does spending money excite you?
6. Do you feel ashamed and embarrassed after you’re done with your shopping?
7. Have you ever lied to your family members about the amount of money you have spent on shopping?
8. Do you keep thinking about money and shopping most of the time?
9. Do you postpone important payments so that you can shop now?

If you exhibit any 3-4 of these behaviors, then, buddy, you are a shopoholic.
Causes of ShopoholismNo one knows what causes shopoholism — the easy availability of money (personal loans, credit cards, etc.) combined with the need to feel good and/or impress friends is the most likely cause. Scientists say that 10-15% of shopoholics are prone to addictive behavior due to their genetic makeup. When a shopoholic purchases something, he feels good because the opiate receptor sites in his brain get turned on, and that kind of spurs him on to shop again and again – and he goes for broke. No matter what the causes are — the effects of shopoholism are deadly and if you are a mild shopoholic, then it’s time to enroll with Debtors Anonymous and also see a credit counselor. If your shopoholism has got out of hand then it’s time to see a therapist who will put you on a cognitive-behavioral treatment program before you shop till you drop all your money, friends and happiness, and maybe even yourself.

Tags: Shopping