Fighting a shopping addiction

Shopping addiction is a pattern of compulsive shopping that resembles other addictive disorders in its causes, course of development and its effects. Spending addiction is a broader term that encompasses shopping addiction and other patterns of overspending. If it is not treated, it will lead to issues in other aspects of life like relationships, career, education and finances.

Additional reads : Shopping addiction and it’s symptoms.

What can a shopping addiction lead to?

The effects of shopping addiction can be severe and can lead to debt and even bankruptcy. Interpersonal conflict over purchasing patterns can become so severe it can prove to be fatal to close relationships. People with shopping addictions can develop secondary hoarding disorders as they fill their homes with items that are unnecessary but feel too anxious or guilty to relinquish.

Shopping addiction consequences include legal problems when a person who has run out of money and resorts to shoplifting, check fraud or various other illegal means to continue shopping. Often, people who resort to these extreme measures to shop are aware of the risks and don’t feel comfortable with their behaviour, but are driven into it by powerful, irresistible cravings and temptations.

Even people who do not experience legal or financial consequences can suffer from worsening mental health in response to spending binges. A defining element of a shopping addiction is that a person wants to stop overspending but is unable to stop on their own. People with compulsive spending disorders often feel guilt or shame about the social and financial consequences of shopping that can worsen comorbid anxiety and other depressive disorders.

How to fight a shopping addiction?

It’s not uncommon for people to have a shopping addiction. People might have it for various reasons. A person might be a shopping addict because they want to prove that their financial status is way lavish compared to their peers. He or she might have a shopping addiction as a method of coping from negative emotions such as anxiety, fear, despair and anger. Throughout this blog, you will find points on how you can help yourself with treating this addiction which may otherwise not be perceived as prominently life threatening.

Let the trash can meet your credit cards

If you do have a problem with compulsive spending, it is a good decision to destroy your credit cards. Don’t note down the card number anywhere and try to justify the need for its usage. If credit cards stimulate your splurging due to stress or other negative emotions, you are better off without it. Rationalising its usage will only add more coal to the fire.

Make cash your best friend

Stop using your debit card, credit card or chequebooks to make payments. It might sound inconvenient, however we are trying to correct a habit or behaviour. In order to do this, we need to get out of our comfort zones and make sacrifices such as this. Using cash will also help stimulate the feeling of spending real money as plastic money and checks can, to a certain extent, make this a little hazy.

Asking for help from family and friends

Asking for help is never a bad thing. An addiction such as this could use the help from your family and loved ones. Ask them for tips on how to save. You can also ask them to set budgets and goals for you or ask them to manage all of your finances if they are good at it and can help you even a little. Talk to them about your problems and find means to take care of your financial wellbeing.

Bind a leash to your transactions, especially your spends

Tracking your spends is very important irrespective of whether you have a shopping addiction. Don’t allow your emotions to take control of your finances. Make enormous efforts to rationalise and differentiate between your needs and wants. Making a list before you go shopping and sticking to it will also prove to be of immense help. Tracking all your expenses will help you monitor your spending patterns so you can take action based on your analysis.

Set goals and targets

For a person with the shopping addiction, the hardest thing to do is to set goals. They are so used to impulse buying and the pleasures of immediate gratification. Learn to set goals, for example, you want to purchase a new pair of shoes and you really like them. Set a goal for yourself where you can purchase the shoes at the end of the month so that you can save as much as possible and work productively to achieve that target. Also by setting these goals, when the time comes you can judge if you still need it or not when the time comes.

Train your mind to avoid temptation

Try your best to stay away from paths you know will lead to temptation when you stumble onto it. For example, if you like games, stay away from stores that sell games. If you like books, stay away from bookstores. If you love sweets, stay away from sweet shops. Try to stay away from these places especially when you are undergoing some form of negative emotion. If you do cross paths with the source of your temptations, train your brain to say “no!”

Remind yourself to see the bigger picture

Keep reminding yourself of all the big goals you have. For example, if you need to lose weight, tell yourself that you need to stay away from spending on sweets as this is your big goal. Creating a vision board can help you focus on bigger goals and start working towards them.

Question yourself

Try asking yourself questions if you do get tempted to buy things. For example:

• When will you be using this commodity?
• Do you possess something similar already?
• Do you have a place to store the item?
• How will you pay for the commodity?
• Is it possible to get a better one for a lesser price?
• Is it possible to borrow it from someone else?
• Can this purchase wait?
• Why do you want to buy it?
• Is there an alternative product?
• What would your loved ones tell you if you bought it?
• Is it worth spending so much money on this item, etc.

How can we help you?

Finin has features such as budgeting, goal setting, tracking your spends and the AI gives you advice to save based on your spending habits thereby creating a very hyper-personal banking experience. While learning how to manage your money, you can also work towards trying to treat your shopping addiction by yourself. It’s not too late to take the first step towards betterment. Join our waitlist! https://finin.in

Originally written by me and published at https://medium.com on November 3, 2020.