Being a shopaholic can put you in a financial crisis. There is nothing wrong in spending your hard earned money but problems start to come in when the desire to buy seems to be uncontrollable. Purchasing things that you don’t really need which just turns into clutter or you end up wondering why you bought a whole stack of canned goods. You can’t get out of the mall without purchasing anything. If you are experiencing the same thing, then you may be a shopaholic.
Advertisers and their marketing strategies try to manipulate or affect one’s spending habits, but the brain goes along with the ad or campaign because the desire to buy is already established. Thanks to those enticing commercials.
Studies show that when a certain product is physically present, consumers tend to buy that item compared to a product that is advertised through text or email. Impulsive buying or acquiring items without giving it a second thought can lead to financial crisis. Hoarding items on sale just to obtain freebies is a serious problem that needs to be addressed.
Many find it hard to accept the reality that they are becoming a shopaholic. Do a self assessment. Do you have 3 or 4 maxed out credit cards? Do you receive collection letters? Do you fail to pay on time? Do you fail to use what you have bought? If the answer is yes, then it’s time to make a change on your spending habits.
Shopaholics are targeted by advertisers who sell items on sale. If you feel need items tagged with 50% off, buy 1 get 1 FREE, coupons or anything that has to do with freebies or discounts but don’t actually need it then don’t buy it. Make a list of what you need whenever you hit the mall. Write a grocery list. You don’t need to buy in bulk if you need only 2 pieces. Consumers get easily enticed with purchasing in bulk just to avail that cute canister for free.
Here’s what you can do, track your spending habits. Log how many times you shop in a week. Set your goals. How much do you want to save within a week or month, and calculate. Do your math.
Shopaholics, it’s time to change your spending routine and become a responsible shopper. There are smart ways on how to spend. Pay in cash; ease your burden by paying items in cash. You’ll have peace of mind knowing that you don’t have any accounts payable that awaits you by the end of the month. You’ll be happy to see that your savings account has funds for more important things. Save and learn how to control your expenses. In the end, it’s you who will benefit from it.