According to the American Psychiatric Association, addictive shopping is “a pattern of chronic, repetitive purchasing that becomes difficult to stop and ultimately results in harmful consequences.” A materialistic culture, easy credit, and the advent of internet commerce have led to a rise in compulsive shopping. Ask yourself key questions about spending habits and feelings toward the accumulation of things. Do you feel a “rush” when spending money? Be honest about how overspending is affecting your life. Are you lying to hide purchases or the amount spent? Do you spend repeatedly to avoid the reality of your relationships or finances? To determine whether you may be a shopping addict, obtain a confidential assessment.
Read the full article here: Shopping 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.