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Are you Addicted to Spending?

August 28, 2010

A recent study found that 1 out of every 20 is a compulsive spender. While women are often thought of as having this problem more than men, it appears that men and women may be equally affected. It is estimated that there are 15,000,000 Shopaholics in the U.S. and that the U.S. credit card debt is greater than six hundred billion dollars.

Compulsive shoppers-An obsession with shopping that significantly interferes with the functioning of the individual.

Trophy shoppers-Looking for that perfect buy to put on a mantel

Image shoppers-Shop to have a certain look.  It’s not about needs, but rather how others view you based on your purchases.

Bargain shoppers-Always looking for a bargain.  Become so consumed with finding the deal that they don’t track spending.

Codependent shoppers-Encouraging your shopping partner and they encourage you to buy, buy, buy.

Bulimic shoppers-Makes purchases, takes them home only to return them

Collector shoppers-Have to have all the pieces to the set.  They often spend uncontrollably in order to get that missing item they desire for their collection


Do you use shopping as a quick fix for the blues?

Do you spend more than you can afford?

Are some of your purchases unused or hidden?

Do you spend money to cheer yourself up when feeling anxious, depressed or bored?

Do you celebrate by rewarding yourself with a spending or gambling spree?


“opportunity cost” a term we all learned in economics class. for everything that you do, it costs you the opportunity to do something else. the value of something that must be given up to acquire something else. The cost of passing up the next best choice when making a decision.


Every dollar we spend on one purchase is a dollar that we can’t spend on another purchase. Economists would say that each purchase has an opportunity cost. Once we have made that purchase, that money cannot be spent on something else in the future. To what extent do these opportunity costs affect the purchases we make?

So it costs time and money to shop…even if you don’t spend a dime.

So the opportunity cost of shopping. if you don’t know your hourly wage you can calculate your hourly wage by dividing the number of hours worked by annual gross salary. once you know your hourly wage you can determine if its worth your time to shop.


hourly wage $50

$50 x 3 hours to find a shirt = $150

shirt cost $20

$170 shirt purchase


Pay for purchases by cash, check, debit card.

Make a shopping list and only buy what is on the list.

Destroy all credit cards except one to be used for emergency only.

Avoid discount warehouses.

“Window shop” only after stores have closed.

Avoid phoning in catalog orders and don’t watch TV shopping channels.


Recovery Connection 1-800-993-3869.

Debtors Anonymous chapter near you

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