Tips to Avoid Compulsive Spending

Spending money and shopping is a part of American culture. We all work hard for our money and enjoy buying new things. Being a consumer is a good thing. It helps to keep the economy going and indirectly generates jobs. If we all sat around stashing our money in the mattress, things would be much worse off than they are now!

Unfortunately though, some consumers turn into spending and shopping addicts. They usually don’t realize it until they wind up with no money in their bank account and crippling credit card debt. No one wants to end up this way, but oftentimes they never take the time to question if they have a problem or not. Here are a few of the great list of tips you can find in this great MSNBC article from a few years back:

1. “Reflect on how you feel when you shop.” This is important to do because it will help you figure out why you shop and the emotions you associate with shopping and the ones that trigger shopping sprees

2. “Take control of the situation.” If you can’t be trusted with your own credit cards, give them up. Pay for things only when you have the cash to do so. This will help you prevent unwarranted and harmful spending that you might do.

3. “Start writing things down.” This can be a powerful tool in realizing you might have a shopping problem or in helping you see how bad of a problem you have. Take a day or week and write down everything you spend money on. Then take stock of everything you actually needed to spend money. It’s definitely an eye opening exercise.

Those are just three of ten great tips you can read about in the MSNBC article. Shopping should be an enjoyable activity, not something you cannot control and that ruins you financially. If you or anyone you know might have a problem, some of these tips can help you get started on addressing it.

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