Many people are shopaholics. They shop when they are happy, they shop when they are sad, they shop when they are feeling bored or frustrated. More than often they shop for things they don’t even need. I don’t have a spending addiction but yes, I can’t resist when it comes to books. I splurge on books and buy even when I have enough unread books at home.
How to recognize if someone has a spending addiction? Here are some clues:
- They hide their purchases in closets because they know they will be scolded for overspending or spending on things which are not needed.
- They go over-budget or spend too much on credit card resulting in debt.
- Their overspending is not an occasional occurrence but it happens throughout the year.
- They buy the items they don’t even need.
- They don’t buy just one. They buy in excess.
- They feel guilty after their spending spree but still can’t help spending the next time they go shopping.
- They spend more than they earn.
If you relate with any of the signs above then it’s high time that it’s time to you do something about it. The first step of course is to block your credit card.