Compulsive spending comes from deeper psychological issues combined with a lack of good money management. Even the most materialistic people can avoid racking up the credit card debt with good money management. Shopaholics use spending as a way to soothe their anxieties and problems instead of facing them directly. Credit cards make such retail therapy extra easy, and shopaholics may turn a blind eye to their ever-growing debt and credit score. Fortunately, there is help out there for anyone facing a shopping addiction and severe money mismanagement. For severe cases, counseling and professional help are the best options for getting back on track with healthy spending habits.
Read the entire article here: What Can Be Done to Help With Compulsive Spending Habits?
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.