Do you usually go to the mall with the intention of buying a specific item that is within budget, but end up purchasing random items you don’t really need? Do you feel anxious about swiping your credit card many times a week, but can't relax when you don't? If you see yourself in these situations, then you might be one of those self-confessed shopaholics. Experts say having a compulsive shopping disorder is as serious as any other addictive behaviour, and involves these major consequences.
#1 The Horror of Bankruptcy
The magnetic effect of today's sale signage and advertisements is enough to tempt you to buy. As a shopaholic, the action happens automatically without you considering the consequences of spending money. As a result, you end up in a pile of debts. Online lender Rapid Loans confirms that credit card debt is often the main issue, and many shopaholics resort to borrowing money to help pay multiple credit card bills.
According to a recent report by the Australian Consumers Association, almost half of Australian households are in debt. Shopping, in particular, is one of the causes why these people are facing a crisis.
#2 Strained Relationships
Being a shopaholic does not only ruin your credit, but also the relationship you have with the people around you. Arguments and misunderstanding will emerge as a result of keeping secrets and increasing financial problems. Even your precious time with your family will be lessened because of your shopping addiction.
As a shopaholic, you’re more interested in the latest update to your favourite apparel than the activities lined up with your family for the weekend. Don’t wait until you have no one to spend quality time with. Get back to having a healthy relationship with your loved ones and friends.
#3 Compulsive Hoarding
Constantly buying stuff, some of which you don't need, will only create clutter in your house. This clutter is a sign of compulsive hoarding, which is difficult to recognize. As a shopaholic, you may not notice that buying items in large quantities will occupy a great deal of your time and space. This would eventually affect your lifestyle and personality.
There’s nothing wrong with using your hard-earned money to buy the things you desire, but always remember that too much of anything is never good. Remember these consequences when shopping temptation strikes again.