What Is Spending Addiction?

Indiana has a great resource on spending addiction. Here’s how they describe it:

People who “shop ’till they drop” and run their credit cards up to the limit often have a shopping addiction. They believe that if they shop they will feel better. Compulsive shopping and spending generally makes a person feel worse. It is similar to other addictive behaviors and has some of the same characteristics as as problem drinking (alcoholism), gambling and overeating addictions.

Compulsive shopping or spending can be a seasonal balm for the depression, anxiety and loneliness during the December holiday season. It also can occur when a person feels depressed, lonely and angry. Shopping and spending will not assure more love, bolster self-esteem, or heal the hurts, regrets, stress, and the problems of daily living. It generally makes these feelings worse because of the increased financial debt the person has obtained from compulsive shopping.

If you have a serious time keeping a budget, you may have an addiction.

TheSimple Dollar offers some steps to defeating an addiction to spending

I think that is the first step to fixing any problem: acknowledging its existence.

Where can I find help for a spending addiction?

If you or aloved one has a spending addiction, here are some resources to check out:

Real Life Stories of People Climbing out of Debt

Having a spending addiction can be overwhelming with all your debt. However it is possble to get out of debt. 

These are real people who made mistakes and are learning.

I’ve improved with my spending habits, but I have plenty to work on. This blog is a online diary of my journey to living a  debt free life

Has anyone dealt with this issue? How did you work through it?

If you’re a blogger and have a post about it, please email me and I’ll update my post with your story.