Compulsive spending involves feeling compelled to spend money on items you don’t really want or need. In some cases, you might spend money on items you already have plenty of. For example, even though you love getting new shoes, if you already have 20 pairs of them, it’s probably safe to say you don’t need another.
Signs You May Be Spending Compulsively
Do any of these signs feel familiar?
1. You spend all your money as soon as you get it. On payday, you might pay some bills. Then, any money you have left over, you happily go out to spend. Maybe there’s a big clearance on home improvement tools or the dress boutique is having a going out of business sale. Whatever the case, you deplete the monies you obtain.
2. You use charge cards to buy items when you have no money. A financially dangerous habit, using charge cards to keep buying once the cash is gone can devastate your money and living situations.
3. You shop when you feel moody, anxious, or upset in some way. Your feelings largely depend on whether you’re shopping, since shopping comforts you during any stress.
4. You feel your spending is out of control. No matter what you do, you just can’t stop. 5. Your shopping causes difficulties in your life. You perhaps have arguments with your spouse about all the money you spend. Sometimes, you aren’t honest about what you spent.
How to Stop
If you experience even one of these points above, there’s a real possibility you’re dealing with compulsive spending.
I can share several strategies to quell your urges to spend. Schedule a call and let's talk about it.