Compulsive Shopping

financial freedom

Compulsive Shopping

Compulsive Shopping is no joke. An October 2006 report in the American Journal of Psychiatry indicates that a study involving 2,513 adults showed an alarming 1 in 20 American men and women might be suffering from a compulsive shopping disorder. Test yourself.

“Compulsive shopping leads to serious psychological, financial and family problems including depression, overwhelming debt and the breakup of relationships,” according to Lorrin M. Koran, M. D. the lead Stanford School of Medicine researcher in this study.

"Psychologically speaking, compulsive buying underlies many emotional issues," said Deborah Serani, a psychologist in New York City. "For every man or woman who shops impulsively, there will be uniquely different needs being fulfilled. Power, control, soothing loneliness, for example."

Compulsive shoppers enjoy the buzz of shopping and looking for things. This is a real high. This binge is followed by feelings of distress and remorse when they realize that the money was wasted on stuff they may never use.

Compulsive buying (uncontrolled urges to buy, with resulting significant problems) statistics:

5.8% of people are Compulsive buyers
6% of women are Compulsive buyers
5.5% of men are Compulsive buyers
A higher percentage of people who earn less than $50,000 year are Compulsive buyers
Male Compulsive buyers tend to buy CD’s, books, tools, gadgets, computer stuff and cameras
Female Compulsive buyers tend to buy clothes, make-up, articles for the home and jewelry
Males are more likely to become addicted to auctions
Compulsive buying does not make the sufferer feel happier
Many Compulsive sufferers experience financial problems (heavy debt), remorse and shame
Severe compulsive buyers are individuals whose spending is both more impulsive and less well controlled than those with better finances.
Most Compulsive Shoppers hide their addiction

Psychologists are developing treatments for this problem which is as prevalent as many other psychological disorders. Small studies have indicated that some anti-depressants may help to some degree and in general 80 – 90% of obsessive compulsive disorders can be successfully treated with psychopharmacologic and psychotherapeutic methods. One study also linked depression and compulsive buying. It is good to get medical advice for either condition.

The good news of this research is that if you are experiencing problems that you think might be related to Compulsive Shopping you have a chance of getting treatment. The other good news is that this may explain why you are unable to exercise reasonable control over your spending and money. Beat your compulsions now.

Your first steps should be to work on self-discipline and impulse control. Try using the Seven Steps to Financial Freedom to break your bad habits and build new ones. Because the other good news is that you might just be suffering from bad habits. You can fix your own bad habits. It takes a psychologist to diagnose and treat the disorder.

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