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Is compulsive buying to blame for your credit card debt?

On Behalf of | Jan 23, 2020 | Firm News

You are deep in credit card debt; you cannot deny that. What may remain unclear to you is the core reason for your debt. Could it be that you are a compulsive buyer?

To better understand what it means to be a compulsive buyer, see what Psychology Today has to say about the matter. Once you determine whether your buying is compulsive, you can put yourself on the road to true peace.

Buyer’s rush 

Do you find that you experience a thrilling rush while shopping? This is a “buyer’s high” that comes from the physical act of buying and owning something. Over time, you may find that you crave this high more and more, leading you to spend more and more.

Buying out of impulse rather than need 

You may find that you buy items that you do not really need or are not on your shopping list. Something may catch your eye and make you feel utterly compelled to buy it. Going deeper into impulse shopping, you may not even open the items you buy, or you may go so far as to conceal your impulse purchases, something that may turn into hoarding.

Shopping therapy 

Often, compulsive buyers use shopping as a way to deal with negative or unwanted emotions. Shopping can become a type of coping mechanism to deal with loneliness, isolation, frustration or low self-esteem.

Buyer’s remorse

Once the initial rush of buying or owning fades, you may crash and feel a sense of guilt for your purchase. Touching back on using shopping as a form of therapy, your remorse may lead you to make another unnecessary purchase, which only starts the cycle all over again.

In addition to working on getting out of credit card debt, it may be a good idea for you to take an honest look at yourself and your financial habits. Consider talking to a professional about where your compulsive buying comes from so you can figure out how to break the cycle.