It’s easy to see shopping addiction as a response to a traumatic experience, like divorce or death of a family member. But it can also be a fantasy of escape from the “daily grind” as Lana, a 25-year-old receptionist who spends her whole salary on shopping, puts it. By posting pictures of herself with her shopping bags online, she has gained online followers and feels like a celebrity. Giving yourself incentives by setting goals such as saving money for one special purchase or for a nice vacation can help stop this kind of reckless behavior and foster healthier financial and personal habits.
Read the entire article here: Retail remedies… or an acquiring addiction?
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.