Do you get a rush from buying new things, but don’t care what you bought? Just that you get a rush from it? If so then you’re probably a compulsive spender.
This can be a destructive addiction that can result in personal distress, overwhelming debt and relationship and social clashes. It’s not an easy thing to overcome, but to help you get started here are some tips on how to cull your spending.
What is compulsive spending?
Let me run a scenario by you. You’ve had an overall bad day so you go shopping. You find that it gives you temporary relief but that it doesn’t resolve these feelings. Afterwards, you feel ashamed, guilty and embarrassed for spending all that money.
Then you lie about how much you spent and bought, while juggling accounts to accommodate more spending. Basically, you put in so much time and energy into buying and thinking about buying that it impacts on your life. Like any addiction compulsive spending is a vicious cycle that can wreak havoc on your personal life.
Understand your problem
Sure as a compulsive spender you accumulate many things, but this isn’t the root of your problem. To curb your spending you need to think about what it is that you are shopping for, because it’s not for that Louis Vuitton hand bag. Normally it’s a response to an emotional problem that you are dealing with, such as depression and anxiety.
It could be these emotions, along with others, that trigger your spending. You need to identify these in order to get your spending under control. You could get professional help, but if it’s not at that level, talking about your problem with friends can be just as helpful. So why not look for a support buddy to help you break that habit by taking them with you whenever you go shopping.
Only carry cash with you
Did you know that you’re likely to spend more money with credit and debit cards? Don’t think so? When you are charging things to your card you feel disconnected with your money, you don’t look at it as Rand’s. So to help you make the connection between buying something and spending money you’ll need to start carrying around cash.
This may sound like I’m blaspheming but hear me out. When you’re shopping spending money becomes more real when you have to take it out of your purse. So if you’re going shopping only take out the cash you need, meaning that you’ll be less likely to splurge because you have a limited amount.
Track your spending
As a compulsive spender you probably turn a blind eye to you’re spending or you might not even be aware of how much you spend. Whether you use a software programme, phone or pen and paper, having it written down tracking your spending can help you become more conscious of your spending and help you to stay committed to changing your behaviour.
To start, give each item you purchase a score based on how much you need it, not want it. This is so that when you look at the purchases, you can see how much you can save if you don’t buy unnecessary items.
Curbing your compulsive shopping may be difficult but it’s not impossible, so why not use these tips to help you to cut down on your spending today.