By the time we’re financially independent, we’ve had or witnessed numerous testimonies to the stress-inducing nature of money. Memories of parents arguing over money or a lost job often give us deep, even subconscious, associations that cause us to act irrationally when it comes to money. Early life experiences form a negative thought process called the "critical inner voice,"which might be goading you into buying things to make you feel better and then making you feel guilty because of it. It’s not easy to shed the points of view you’ve unconsciously taken on from your primary caretakers, but it helps to seek out good role models for yourself.

Read the full article here: Money Stress: Why We Use Money to Feel Bad About Ourselves

Shopping addiction is not a problem isolated to this side of the Atlantic. Buckinghamshire psychologist Nadine Field treats an average of six women a week who have been spending behind their partners’ backs. Thirty-three-year-old Elenor Smith has been spending money she and her husband don’t have for the past three years. She’s been piling up shoes, clothing, and make-up, most of which is hidden in wardrobes and drawers, and never used. It was only when she stopped being able to make the minimum payments on her £20,000+ debt that she started getting threatening calls and letters from lenders. That’s how her husband found out.

Read the entire article here: The women who hid their shopping addiction from their husbands… and nearly wrecked their marriages

“I even considered becoming an escort to make extra money to fund my addiction.” These are the words of male fashion blogger and shopaholic Jared Lowe. At least three or four times a week, Lowe found himself lugging huge shopping bags down the street, filled with designer clothing and  shoes:  Items he already owned in excess.  He had experienced shopping addiction since high school.   Lowe says that he would always take odd jobs to be able to purchase the latest styles. Being a fashion blogger doesn’t help, since it’s a competitive world that requires you to stay on the cutting edge of fashion. He’s now working on self-discipline and has made a budget.

Read the entire article here: It Happened to Me: I’m A Male Fashion Blogger and a Compulsive Shopper

The results from a CouponCabin.com survey of over 2000 adults, aged 18 and over, suggest that 11 percent of U.S. adults consider themselves to be “shopaholics,” (i.e. addicted to shopping and never missing an opportunity to buy something).  Additionally, 15% of U.S. adults  report that their shopping habits have put them in debt, and 63% of U.S. adults believe that the Internet makes it easier to become a shopaholic. About 60% reported being in more than $1,000 in debt due to shopping. Financial troubles, however, were not the only shopping aftershocks. Emotional troubles abounded. Seven percent of the survey participants said that their shopping behavior has harmed personal relationships, and 20% have hidden purchases from family and friends. To read more about the study, click here.

Shopping may not be a substance like drugs or alcohol, but it can be addictive nevertheless. It’s also known as oniomania, from the Greek onios “for sale” and mania, which is of course related to excessive excitement. Those who grew up around shopping addiction are more at risk than others, but those who grew up feeling deprived of material things have an elevated risk as well. Many shopping addicts use material things to fill an emotional void in their lives. Others are addicted to the “rush” they feel when making a purchase. In today’s consumer culture, an estimated ten percent of Americans suffer from a shopping or buying disorder.

Read the full article here: The reality of shopping addiction

It’s easy to see shopping addiction as a response to a traumatic experience, like divorce or death of a family member. But it can also be a fantasy of escape from the “daily grind” as Lana, a 25-year-old receptionist who spends her whole salary on shopping, puts it. By posting pictures of herself with her shopping bags online, she has gained online followers and feels like a celebrity. Giving yourself incentives by setting goals such as saving money for one special purchase or for a nice vacation can help stop this kind of reckless behavior and foster healthier financial and personal habits.

Read the entire article here: Retail remedies… or an acquiring addiction?

Most people need some “me time” at least occasionally, but a new study shows that being alone prompts people to take bigger risks with their money. Published in the Journal of Consumer Research, the study put participants through situations in which they were made to feel a sense of exclusion. They were then asked to make a financial decision. Participants who felt excluded always chose a riskier financial situation than those in the control group, who weren’t made to feel isolated. This and other related studies confirm what we probably already knew: People will try to fulfill their needs and desires through popularity or money. Interpersonal rejection makes spending money seem all the more important.

Read the entire article here: Thought-provoking Thursday: is Loneliness Making You Take Financial Risks?

With the retail world at her fingertips and shielded by her position as a hotel bookkeeper, internet shopping addict Eleanor Buchanan embezzled £30,000 from her employer at the Hillcroft Hotel in Whitburn, Great Britain. She stole the money between December 2010 and January 2012, spending the entire amount on designer clothes for her children.  Buchanan’s situation seemed driven by her addictive personality rather than greed. Having previously worked through addictions to alcohol and painkillers, she was remorseful and compliant when confronted by police. According to the sheriff, her jail sentence is partially dependent on her ability to repay the hotel. Her siblings have already gathered funds to help her.

Read the full article here: Hotel Bookkeeper Embezzled £30k from Bosses to Fund Her Internet Shopping Addiction, Court Hears

Trips to the mall are the fix some Americans need to manage the stress of their lives. Like an alcoholic craves a drink, so does a compulsive shopper rush to a retailer. The compulsion may begin early in life, regardless of income. The reasons for chronic shopping range from low self esteem, to depression, or more complex mental health issues. Compulsive shopping, or addiction of any kind, is a medical condition and requires therapy or a support group. Seek help to curb the impulse to shop. In the meantime, refrain from shopping alone, use the Internet only in rooms where others can see you, and dispose of your credit cards.

Read the full article here: Study: Shopping Addiction a Growing Problem in the US

According to the American Psychiatric Association, addictive shopping is “a pattern of chronic, repetitive purchasing that becomes difficult to stop and ultimately results in harmful consequences.” A materialistic culture, easy credit, and the advent of internet commerce have led to a rise in compulsive shopping. Ask yourself key questions about spending habits and feelings toward the accumulation of things. Do you feel a “rush” when spending money? Be honest about how overspending is affecting your life. Are you lying to hide purchases or the amount spent? Do you spend repeatedly to avoid the reality of your relationships or finances? To determine whether you may be a shopping addict, obtain a confidential assessment.

Read the full article here: Shopping Addiction