Are you obsessed about shopping all the time and are unable to cut back on shopping? Treat yourself to a slow start and use this time to break out of this habit. Scroll down to learn more.
Shopping addiction, oniomania, impulsive buying, shopaholism and many more are all common names of compulsive spending. Most of us love shopping, and we occasionally do it, but some go beyond this because of their shopping addiction.
Shopping is a good thing, but addiction is not acceptable, and that addiction leads to compulsive spending, which is very harmful to financial conditions, and it also destroys many relationships. So if you are a compulsive buyer, read this article to improve yourself, get rid of compulsive spending, and learn thrifty ways to save money to have a perfect life ahead.
It is a harmful addiction because he or she wastes a lot of money. Sometimes people do this to show off others that they have the most money. It`s challenging to differentiate between the compulsive buyer and over buyer because of a materialistic society.
Signs that show you are a compulsive spender
Many people shall not agree with us, but compulsive spending has no become a real problem and majority of people are suffering from their shopping addictions.
- Buying products which you don`t even need
- Hiding shopping from your family and friends
- Feeling extra excited to go on shopping
- you are not saving money from your earnings
- Spending a tremendous amount of income in shopping
- Getting loans to complete your extraordinary shopping
- You have no budget plans.
- You have zero savings.
- Not giving time to your relatives, family, and friends
- Facing problems in your relationships
- You have a lot of tagged clothes and accessories and are not using them
- Extra shopping to keep yourself away from your unpleasant emotions
These are some symptoms of compulsive buyers who don`t even think about spending and keep on shopping for no matter what. It`s not a good sign if you are a compulsive buyer, then you need to get rid of it as soon as possible as it has many side effects.
How to stop "Compulsive Spending"?
A shopping addiction can never nerve wrecking as well as time consuming. The only way to stop spending money is to find relevant way and practice them that can help you instantly. So whenever you head out for shopping ask these simple question to yourself.
Before you buy anything, hopefully these questions will help you overcome your addiction:
- Don`t you want to live a more enjoyable life?
- Why I am here?
- How Do I feel?
- Do I need this?
- What if I wait?
- How will I pay for this?
- Where will I put it?
- Is this include in my budget?
Apart from questioning yourself, there are number of ways you should stick to get rid of compulsive buying.
Best Ways To Stop Compulsive Spending And Save Money
1. Be true to yourself and accept your problem
To bring impressive changes in yourself you have to accept your problem. Don`t panic or be guilty for this as everyone has some flaws in their lives but the best one are those who accept their flaws and try to change their selves. So just be honest with yourself and take a challenge to get rid of that.
2. Continue with problem vs. wish to change
Do you also feel bad after shopping when you see your credit card has no money left in it? It would then be best if you had the motivation to give yourself on your own because it`s only you who is facing difficulties by your habits. It would help if you kept yourself stuck with that motivation to bring exciting changes to your lifestyle.
3. Share your problem with your closest person
It`s tough to share personal problem with anyone, but the one closest person will understand this and will motivate you to make things easier for you. They will watch you and warn you for your betterment, and this will help you. I had gone from this phase, and one of a friend helped me like this.
4. Make a list of your recent spending
The best way to know your spending is to list down all the expenses you have made in the previous month and be honest in it. Be realistic and separate necessities because your expensive dine outs, lunches, hobbies, and extra shopping is not a part of essential shopping. Now calculate unnecessary spending, and you will find a lot of money you have wasted. Don`t panic after this as you are here to improve.
5. Put a strong stopper at your unnecessary expenses
You don`t even realize that your daily little unnecessary expenses are wasting your vast money. You need to put a vital block in the way of extra costs. There are several ways to stop yourself from compulsive spending. If you are addicted to sales and are just excited when you receive messages or emails from the brand, unsubscribe it now. Don`t rely on anyone; do it for yourself and block those ways that make you a compulsive buying.
6. Cleanup your wardrobe
By cleaning wardrobe you`ll come to know how much tagged clothes you have in it. I guess you`ll find a lots of new branded outfits, shoes and accessories that you haven`t even used. Checking your wardrobe will also help realize how unknowingly you`ve being spending your money on stuff.
7. Take no shopping challenge for 30 days
This is what I did to start my journey. I just avoid myself from going to that shopping malls, and unsubscribed from all the brands and sales so that they don`t distract me. I will suggest the same for you, it`s difficult but not impossible, right? Yes, you can do this. So take up your phone and unsubscribe from every brand; it`s relatively easy.
8. Set your real and big goal
A real big goal is something which motivates you every single second to achieve it. Those who are honest and sticked to their goal always succeeded. A real big goal helps you to stay away from every bad habit as your mind is only working for that and keep you busy to find ways to achieve it.
For example, you want to travel the world, motivate yourself, plan it, stick to it and achieve it.
9. Plan your simple budget to stick on
Planning your budget effectively and rely on it makes you save a lot of money when you are a compulsive buyer. Calculate your overall expenses and set rules to spend 30% on costs, 20% on shopping or outings, and the rest 50% will be your savings. Believe me; this is the most effective way to save money and to achieve your goals. This worked for me and will work for you as well. If you are willing to buy some new clothes for trends and go beyond your budget, don`t do this. Stick on your planned budget and add that item for your next month`s shopping even if you have money to afford it. Keep your real goal in mind to stick on your budget.
10. Go for sales when shopping in budgets
When you plan a budget, you have less amount to spend on your shopping so be careful. Go for sale items to save money, and they have the same quality at lower prices, it will also help you shop more within the budget. You can also use multiple coupons to avail more discounts and buy your favorite products at lower prices. Buying from a retailer has become a habit for compulsive buyers as they feel good to spend more, but that is just temporary happiness and long term anxiety and guilt.
Be careful at your every step when you are treating yourself from compulsive spending. Because you`re spending are harming others as well. Yes, it`s a shocking reality, but it`s a negative effect on many peoples around you.
Who is suffering from your spending?
Many of your friends, family, relatives are negatively affected by your extra spending, and it creates a lot of problems for them and you as well.
Your parents need your care and time, but because you are spending much of shopping, you are not able to take care of them even you are not giving them proper time because you are too busy shopping. Your spouse or wife is having an adverse effect because you are spending many extra by his pocket, and you didn`t even realize it. As you are not saving for your retirement, that is very dangerous. Your friends are feeling themselves down because of your spending as they thought they don`t have enough to spend, which reduces their motivation. Try to make yourself better to start good relationships with your loved ones. So instead of practicing bad habits shift to frugal living it will help you achieve everything. Share below are some of the benefits that you can check out:
At the end
It`s very challenging to get rid of any addiction, but not impossible. The main key to improve yourself is to remember your real goal and stick on it. There are many strategies to improve finances, you can follow that can help you get rid of your addictions. So overcoming your compulsive spending and lead a happy and healthy life.