Wednesday, January 9, 2008

Are You a Shopaholic?

How can you tell you have a spending addiction? With lots of promotions, bargains and sales, you would not be able to resist the temptation of spending some of your hard-earned money. There is nothing wrong with little spending, unless it has gone out of control. If you have habits of buying and don’t care of what you buy, there is a problem there!

The checklist of Addiction
1. Shopping or spending money as result of feeling disappointed, angry or scared
2. Shopping or spending habits cause some emotional distress
3. Having argument with others about one’s shopping or spending habits
4. Feeling lost without credit cards
5. Buying items on credit that would not be bought with cash
6. Feeling guilty, ashamed, embarrassed or confused after shopping or spending money
7. Lying to others about purchase made or how much money was spent
8. Thinking excessively about money
9. Spending too much time juggling accounts or bills to accommodate spending

Most people have no idea they have an addiction problem until it is too late. They always in a constant of denial until the problem escalate to catastrophic proportions. Bankruptcies are very common among over spenders. Problems drive people to all kind of extreme behaviors and crimes. A shopping addiction can shatter lives!

Guidelines for Wise Spending
1. Do not buy on impulse. Also make a list when you go shopping
2. Always compare prices and alternatives before purchase
3. Learn to read and understand all advertisements.
4. Read all labels and product literature carefully
5. Go shopping alone, especially for household and grocery items. Having someone with you will influence your purchasing decisions.
6. Never expect something for nothing, somehow you will pay for it. Nothing is FREE!
7. Wait for special sales – check when the sales date would be
8. Maintain good records. Keep receipts, and make reminders about cash spending
9. Lastly, list down your monthly budget, i.e. allocation of money on household, grocery, personal and emergency items. That way you would know when you are over-spending.

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