Are you beginning to suspect that you're developing a shopping addiction? If your spending is too much for your income, and you're shopping even though your closets are full to bursting, you may have a problem. Shopping addiction can affect your relationship and threaten your financial security, so it's vital to deal with the problem. Here are some signs you may be developing a shopping addiction …
One of the signs you may have a shopping addiction is if you're lying about purchases. Do you pretend that you've had items for ages when your partner asks if you're wearing something new? Or do you lie about how much it cost and say you got it in the sales? If you lie about your purchases then you already know that you're doing something you shouldn't.
Another thing that shopping addicts do is hide how much money they're spending and how many things they're buying. They may even hide purchases in the trunk of their car and sneak them in when their partner is out. They don't want to face any recriminations for the amount of shopping they're doing.
Is your credit card balance never paid off? Can you only afford the minimum payments on your cards? You're heading for disaster if you carry on like that - especially if you continue to make more purchases. It will be very difficult to pay off the cards if you keep increasing the amount you're borrowing. And just think of the amount of interest you're paying.
Bills should always be your priority, but shopping addicts will often spend frivolously before paying rent or the electric bill. They then find that they don't have enough to cover the bills. If you find yourself doing this, it's time to seek help before your shopping habits get you in serious trouble.
Have you applied for another credit card because you've maxed out your existing cards? Having too many credit cards is a bad move for a shopaholic, because it allows you to keep on spending and not adopt a more sensible attitude. You only really need one card for main use and another for emergencies.
Take a look in your closets. How many items are in there that you never wear? And how many items still have the tags on? If the answer is 'quite a lot … okay, a lot,' then you could be on your way to developing shopaholic status. This isn't a desirable way to be, so you need to start cutting down your shopping before it really gets out of hand.
Lastly, look at how many of the same kind of garment you have. Do you have racks of black dresses or jeans, and do you buy the same thing in several colors? Shopping addicts may buy something, forgetting or ignoring the fact that they already own something very similar.
Shopping addiction is a very serious business, and could wreck your financial stability. At the very least, it could put you into short-term debt - which will get worse if you don't admit your addiction. So be honest and ask yourself if you do have a problem. Have you ever spent money when you know you shouldn't have done?