With the endless stream of weekly deals and the perfect products, overly frequent shopping can be all too tempting. While retail therapy can be cathartic to some degree, there can be too much of a good thing. Some Tennesseans struggle with crippling credit card debt as a result of this habit. Fortunately, there are some steps one can take to bring financial balance back to life again.
Money magazine recognizes the common problem of excessive spending habits, and how they affect a great number of Americans today. Referring to experts to show that shopping addictions are a real problem, Money continues by noting the multifaceted concerns a shopping habit can expose. For instance, not only can a shopping addiction inflict damage on one’s wallet; it can also come with serious psychological repercussions. Consumers often display signs of anger, anxiety or regret after making a big spend.
While the emotional effects can vary, Money suggests that readers try to trace shopping habits back a particular event or feeling — this practice can pinpoint underlying issues that may have sparked the excessive spending. By slowing down and acknowledging thoughts and feelings, consumers may be more likely to use better judgment when shopping.
Today also takes a look at shopping addictions and what consumers can do to address the problem. First pointing out that the term ‘shopaholic’ is no light matter — in fact, it reflects a compulsive buying disorder that results in surmounting consumer debt — Today shares that almost 7 percent of Americans are addicted to spending. Some consumers can easily fall into a vicious cycle of spending and facing credit card debt (and thus guilt). Today mentions a number of recovery programs to address this problem, which can help clarify the warning signs. They also encourage readers to spend time away from those who influence shopping sprees, and to spend time with family and friends in environments that do not require money. With enough proactive steps, consumers can break free from shopping addictions and find financial freedom once again.