It’s no surprise that around the holidays, it is easy to overindulge. We make excuses for eating, drinking, and of course spending too much in the name of the holidays. But for compulsive spenders, this mindset can be incredibly damaging. When everyone is buying more than usual, compulsive shoppers blend in even more and hide their destructive behaviors. Beyond buying for the holidays, compulsive spenders use spending as an escape from stress and emotional turmoil. They most likely have some underlying psychological cause for their behavior, so if you spot any signs of compulsive spending in yourself or a loved one help them get support and stop their excessive spending.
Read the entire article here: Compulsive Shopping: The Holiday Addiction
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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.