Finance is Fun: October 2, 2012

Updated 1 year ago

Shopping isn’t an Olympic event nor should it be anyone’s hobby. And many people like to shop. But are you a shopaholic, or a compulsive shopper?Anywhere from 2-9% of the population mostly women, are compulsive shoppers, or shopaholics.Feel high while shopping then depressed – this is a an exaggerated emotional high and low. It’s not the more normal, going downtown and lunching with friends, having fun that most people enjoy. This is more intense in the high and the low. Hide purchases – lying about shopping- are you hiding purchases from friends, and loved ones. Regularly hiding purchases? Are you lying about shopping at all? You can see how that wouldn’t be okay…Preoccupied with the next shopping opportunity – are you dreaming of what to buy next when you haven’t removed the tags or used the things bought from one month ago? Is your house full of unopened items, or unused clothing…? Honey bunch…Anxious when you don’t shop- do you feel upset, anxious, when you don’t shop? Even you are concerned- You may be already recognizing that this behavior isn’t cozy. And, it isn’t cozy. Let’s help.Curb it:Most people aren’t naturally good at handling money. We have learned to use some aides, some behaviors, to help us not loose control of our money.Cut up cards – or have very few. Keep them at home, on ice, or cut them up entirely.Use cash- have a set allowance and eventually develop the self control to stay within that budget.Track spending- know where your money goes.Consider- some are easily good at money, for most of us it’s work. So here are some of the ideas we use to keep our purchases  reasonable:                Hold off for big purchases – some people have a 30-day rule                Want or need – ask yourself do you NEED this or want it?                Save- maybe you will find that you really like saving!Avoid the trap – stay out of the stores. Don’t use shopping as a hobby.Talk to someone- there is no shame is seeking HELP! Be pragmatic. Get this talked over and feel better. Get control of your life and your money.Citations:http://www.fromshoppingtosaving.com/2012/05/how-to-tell-if-you-are-shopaholic.htmlhttp://www.livescience.com/2875-test-shows-shopaholic.htmlhttp://www.essortment.com/shopaholic-quiz-compulsive-shopping-45471.htmlhttp://www.moneytalksnews.com/2012/09/14/7-signs-youre-a-shopaholic/ Curb it:http://www.getrichslowly.org/blog/2007/11/12/are-you-a-shopaholic-six-steps-to-curb-compulsive-spending/Disclosure:Only securities and advisory services offered through Wall Street Financial Group, Inc. Registered Investment Advisor. Member FINRA/SIPC. Wall Street Financial Group, Inc. and Norumbega Financial are separate entities, independently owned and operated. CR8566


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