If you know you are a shopaholic, there is help for you. The first step is to recognize that you are shopping to feel better, but you actually are feeling worse after you buy. To stop “retail therapy,” ask yourself if you are going to regret your purchase later. If your answer is yes, put the credit card away. Get out of the habit of shopping when you are angry, depressed or frustrated. Avoid the splurge and get off the credit card rollercoaster! Also, use the “24 hour rule.” When you want to buy some expensive item, wait 24 hours. Give yourself some time to get your emotions under control and think about your decision.
Read the entire article here: Help for Shopaholics
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.