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Do You Struggle With Compulsive Spending


									Do You Struggle With
Compulsive Spending?
 Do You Struggle With Compulsive Spending?

 Compulsive spending involves feeling compelled to spend money on items you don’t
 really want or need. In some cases, you might spend money on items you already have
 plenty of. For example, even though you love getting new shoes, if you already have
 20 pairs of them, it’s probably safe to say you don’t need another.

 Signs You May Be Spending Compulsively

 Do any of these signs feel familiar?

    1. You spend all your money as soon as you get it. On payday, you might pay
       some bills. Then, any money you have left over, you happily go out to spend.
       Maybe there’s a big clearance on home improvement tools or the dress
       boutique is having a going out of business sale. Whatever the case, you deplete
       the monies you obtain.

    2. You use charge cards to buy items when you have no money. A financially
       dangerous habit, using charge cards to keep buying once the cash is gone can
       devastate your money and living situations.

    3. You shop when you feel moody, anxious, or upset in some way.Your feelings
       largely depend on whether you’re shopping, since shopping comforts you
       during any stress.

    4. You feel your spending is out of control.No matter what you do, you just can’t

   5. Your shopping causes difficulties in your life. You perhaps have arguments
      with your spouse about all the money you spend. Sometimes, you aren’t honest
      about what you spent.

How to Stop

If you experience even one of these points above, there’s a real possibility you’re
dealing with compulsive spending.

Use these strategies to quell your urges to spend:

   1. Make a contract with yourself to stop spending. Write it out and sign it. Find
      the confidence to change your direction.

   2. For now, remove credit cards from your wallet. If you believe you have the
      fortitude to use a credit card only for emergencies, keep only 1 card in your
      billfold. Pay cash for everything. Budget your daily cash amount and when you
      run out of cash, you’re done spending (on anything) for the rest of the day.

   3. Contemplate your money situation. How long has it been going on? How did
      you get started spending compulsively? Are there specific situations that
      trigger you to shop now? How do you feel when spending money? Work hard to
      gain an understanding of your drive to spend compulsively.

   4. Charge yourself for spending. Every time you spend money for something
      other than groceries, gas, or utility bills, pay yourself $20.00. This means you
      must put back the $20.00 to have ready when the bill for the frivolous items
      comes in.

   5. Write down all expenditures. When you see on paper the amount you spent and

                                        what you spent it for, it somehow becomes real. In a sense, you’re forcing yourself
                                        to think about and process what you’re doing.

                                      6. Examine the possessions you already have. Do you like and use all of them? If
                                         you have several debts due to your past credit card spending, think about how
                                         you can return or re-sell some of the items you’ve purchased haphazardly.
                                         Then, use that money to pay off the debts.

                                      7. Recognize spending money doesn’t buy you happiness. Be honest with
                                         yourself: has surrounding yourself with stuff you bought with your hard-earned
                                         money provided you the life you truly seek?

                                      8. Empower yourselfby becoming more conscious about how spending affects
                                         your life. List the ways your life would change if you had no debt and used
                                         money wisely.

                                      9. Make contact with the Debtors Anonymous group in your area. Asking for
                                         help is the wise thing to do whenever you believe your spending is out of
                                         control. Going to Debtors Anonymous won’t cost a dime and can provide
                                         support for you to get your life back on track.

                                   If you’ve identified yourself as one who spends compulsively, you’ve taken a first step in
                                   the right direction. Making a contract, avoiding credit cards, charging yourself for
                                   spending, keeping track of expenditures, and returning or re-selling unused
                                   purchased items will help you get a grip.

                                   Also, listing how your life will change when you stop spending, realizing spending
                                   doesn’t make you happy, and going to Debtors Anonymous will set you on a positive
                                   path to real emotional and financial freedom.


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Curtis Rose is an experienced professional with extensive experience in all
aspects of personal finance. Curtis writes and publishes articles, courses,
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