Ronnie Haring, a 38-year-old mother, is one of 6% of Americans struggling with compulsive buying. She describes the highs she experiences while shopping, as well as the shame she feels after returning home. She incurred thousands of dollars in debt by buying items in bulk: shirts in every color, every scent of hand soap, etc.… Continue reading Shopaholic Says Shoplifting Arrest Was Her Wake-Up Call to Get Help
Author: Carrie Rattle
Carrie Rattle is a Principal at BehavioralCents.com, a website for women focused on mind and money behaviors. She has worked in the financial services industry for 20+ years and hopes to inspire women to better prepare themselves for financial independence.
How Much Can You Really Save By Penny Pinching?
Penny pinching may not lead to wealth, but according to experts, it can help you identify spending habits and set financial priorities. What is it that makes you feel deprived? What makes you feel empowered? Figure it out, gain control over your spending, and you’ll be surprised at how it can change your life. Be… Continue reading How Much Can You Really Save By Penny Pinching?
6 Ways Social Networking Sites Facebook and Twitter Can Hurt You Financially
If you are a Facebook or Twitter user, there are some potential consequences you may be unaware of. A new job or a promotion may hinge on your internet presence – the way you portray yourself online can matter. Beware of a detailed and updated profile. For example, if you advertise that you are leaving… Continue reading 6 Ways Social Networking Sites Facebook and Twitter Can Hurt You Financially
Determining Self-Worth Through Your Job
Are you addicted to work? According to professionals, work addiction can result from childhood trauma or current concerns. Working late, taking on unreasonable demands, focusing on work over family or a social life, as well as isolation and broken relationships are signs for concern. Work addiction may happen due to fear of failure, a loss… Continue reading Determining Self-Worth Through Your Job
How to Battle Shopping Addiction
Self-control issues and being surrounded by a culture of materialism contribute to the problem of shopping addiction, according to Terrence Shulman, of the Shulman Center for Compulsive Theft and Spending. Are you unable to stop yourself from buying? Do you have conflicts with your spouse over purchases? Ever lie about what you’ve bought? You may… Continue reading How to Battle Shopping Addiction
Addiction to Shopping — When Spending Spirals Out of Control
Can a person be addicted to shopping? Many mental health professionals would say, “yes;” comparing compulsive shopping to kleptomania, gambling and extreme internet usage. Sometimes shopping is used to make one feel better, and it usually works, until the crash of guilt and anxiety follow. The withdrawal feelings experienced when a shopaholic tries to quit… Continue reading Addiction to Shopping — When Spending Spirals Out of Control
Becoming Minimalist: Dana’s Story
“Becoming Minimalist” shares another story of a personal journey into minimalism. Twenty-one year old Dana says, “I don’t know why, but it is so hard to look at your stuff sometimes and really see what you have.” She describes her teenage bedroom as “organized chaos”, and shares her discovery that so much stuff was weighing… Continue reading Becoming Minimalist: Dana’s Story
Q&A with Charles Duhigg: diagnosing, restructuring bad money habits
Charles Duhigg, author of “The Power of Habit” was interviewed recently about how habits affect personal finance. He notes that not all habits are negative, but that we need to “diagnose the cue and reward,” in order to change the bad ones. Duhigg believes habits are resistant to change because of the rewards we receive,… Continue reading Q&A with Charles Duhigg: diagnosing, restructuring bad money habits
How do money and trust know each other?
Financial therapist, coach, and “mommypreneur” Bari Tessler Linden believes in the power of trust, especially as it relates to your monetary journey. Consulting the Merriam Webster Dictionary, the author says, “Trust is confidence. It’s hope. The expectation that things will be okay, and right.” She suggests that trust is important in our relationship to money… Continue reading How do money and trust know each other?
Emotional Investing: Why We Buy High and Sell Low
Keeping sight of your long-term investment goals will help you keep your emotions in check as you encounter the invariable fluctuations in the investment markets. Fear due to losses and then subsequent confidence from gains can lead to unwise investment patterns and the paradoxical “buying high and selling low” mentality; the exact opposite of what… Continue reading Emotional Investing: Why We Buy High and Sell Low