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Money Matters: Identify and defeat your shopping addiction

Shopping is a common and enjoyable activity, but the line between a healthy interest and an addiction can easily blur. Understanding the different types of shopping addiction can help those who struggle recognize their own patterns and, if necessary, seek help.

1. CREDIT CARD ADDICTION

Credit card addiction refers to a compulsive need to accumulate credit-card debt through excessive shopping. People with this type of shopping addiction often experience a sense of euphoria and temporary relief when making credit card purchases. But over time, the mounting debt can lead to financial distress, anxiety and a cycle of credit dependency.

2. BARGAIN-HUNTING ADDICTION

Bargain-hunting addiction involves an obsession with finding and acquiring discounted or low-cost items. Those with this addiction constantly seek out yard sales, thrift shops or consignment stores, often spending excessive amounts of time and money on items they may not need. The thrill of getting a bargain can provide a temporary sense of satisfaction, but the compulsion to keep searching for deals can become overwhelming and detrimental.

3. ONLINE SHOPPING ADDICTION

In the era of e-commerce, online shopping addiction has become increasingly common. This addiction involves excessive and compulsive online shopping, often driven by the convenience, accessibility and anonymity that online platforms offer. The easy access of online stores with one-click purchasing fuels the addictive behavior.

4. EMOTIONAL SHOPPING ADDICTION

Emotional shopping addiction is characterized by using shopping as a coping mechanism to deal with negative emotions or distressing life events. Those with this addiction may engage in impulsive shopping sprees when feeling sad, anxious or stressed or while seeking temporary relief or a distraction from their emotional state. Some call this retail therapy, but is it really? This behavior can lead to guilt, remorse and further emotional turmoil.

5. COLLECTING ADDICTION

Collecting addiction involves an obsessive need to accumulate and hoard items, often driven by a desire to complete a collection or possess rare and unique items. These collections can involve anything from dolls, shoes or art to makeup and high-end soaps. People with this addiction may spend excessive amounts of time, energy and money on acquiring, organizing and maintaining their collections. The compulsion to collect can interfere with daily functioning and lead to financial strain.

Identifying the type of shopping addiction at play is a crucial step toward overcoming its negative consequences. Recognizing the underlying motivations and triggers can empower someone to seek appropriate support, whether through therapy, counseling or support groups.

Developing healthier coping mechanisms, setting financial boundaries and practicing mindful consumption are essential strategies to regain control over our shopping habits. With awareness and intervention, those grappling with shopping addiction can restore their mental, emotional and financial wellbeing.

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Written by Janera Harvey

Janera Harvey is a money coach, certified credit counselor and owner of The Credit Journey LLC. Reach her at info@thecreditjourneyllc.com.

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