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We all like a little indulgence now and again. Whether it’s that pair of shoes you’ve been dreaming about for months. Or that takeaway and extra bottle of wine you’ve earnt after a long week at work. But when does a little indulgence here and there turn into something a little more sinister? Here are some signs that you might have a spending addiction.
Signs You Might Have A Spending Addiction
Shopping and spending addictions are common these days, thanks to the availability of online products, fast delivery times and the fact we don’t even have to leave our homes to treat ourselves. However, some spending issues generate from our need for comfort or develop as a coping mechanism. Whether you’re dealing with something traumatic or trying to ignore deep rooted feelings of distress and hurt, try not to worsen the issue with excessive, unnecessary buying.
A spending problem that goes unchecked has the capacity to ruin you financially. As well as put things like your home at risk and your relationships under pressure. Creditfix can help with advice about debt and debt management, just click the link for more information.
So, how do you know if you have a spending problem? Read on for some common tell-tale signs of a spending addiction.
You’re hiding your purchases
This is a huge red flag. If you’re regularly hiding your purchases from your partner, family or even housemates then you already know you have a problem. And you’re trying to conceal it. Hiding purchases is a worrying financial habit, if you’re guilty of this then reach out for help as soon as possible.
You have multiple credit cards and they’re maxed out
These days a lot of people are under financial pressure. And they’re using their credit cards to pay for things like groceries, fuel and the monthly bills. However, if all your cards are only used for frivolous purchases and they’re constantly maxed out, then you may have a spending habit. Alternatively, you could be continuing to spend on your card even though you don’t have the means to pay it off. Or you could be juggling between cards and be in complete denial about how much is on them.
You don’t know what you’ve got
Items in the wardrobe that have never been worn and with the tags still attached. Household items still in their packaging. Boxes and boxes filled with purchases that you’ve never touched or barely used. If you don’t even know what you have you may be inclined or tempted to buy even more, purchasing numerous duplicates without a second thought.
Shopping gives you a high
Spending and shopping can become an addiction. And it gives you gratification or a high if you indulge in it. Whether you’re craving your next shopping “hit” or you’re heading shopping as a means to cope with a bad day, then you might have a spending addiction.
If any of these sound familiar then consider therapy, counselling or speaking to a debt and spending expert for advice.
*Disclosure – this is a collaborative post – for more details please see my disclosure policy