Is Your Compulsive Spending an Addiction?

Is each slot of your wallet filled with a credit card of some sort? Do you find yourself experiencing a euphoric feeling or “high” when you swipe your credit card at any type of store?  Is this feeling of euphoria followed by a low feeling shortly afterwards?  Do you find yourself making excuses for why you must have an item?  Are you the first one to the mailbox each day in hopes of getting the credit card bill before anyone else does?  If you answered yes to any of these questions or to all of these questions you may have an addiction.

While many people are able to avoid the addiction to drugs and alcohol, just as many people are finding themselves addicted to both major credit cards or store branded credit cards.  The addiction of compulsive spending is one that has swept the nation and many people don’t realize the severity of their situation until they hit rock bottom, just like any other addicts.  Compulsive spending can have many negative effects on a person’s finances, but also on their well being as well.  Debt causes stress which has both a physical and emotional effect on a person.

If you are a person who feels that they may have no power over their credit card and the influence it has in their money management skills then it may be time to take a step back and reevaluate your finances.  There are many warning signs that appear and luckily with each warning sign there is hope.  Hope to conquer the act of overspending and hope to be in charge of spending, instead of letting it be in charge of you, and don’t succumb to years of battling debt.

When it comes to dealing with an overspending addiction, honesty is the best policy.  Being honest with yourself and your family, or significant other, is crucial.  With the help of a family member or a spouse it is easy to sit down and identify what triggers the need to spend and then think of exercises that might curb these triggers.  For instance, if a person who over spends on a regular basis sees a commercial for a sale at their favorite retail store in which they have a credit card too they will more than likely begin making excuses on the spot to justify the spending they need to do.  An easy solution to this instance would be to change the channel or maybe go find a chore to do around the house.  Hiding credit cards in the freezer in a block of ice is a popular act many participate in to curb their spending, but if you are a hard core spender that has their hot water heater on high to melt that ice then an outside resource such as Debtors Anonymous might be for you.