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Understanding
the Issue of Overspending
Spending in the United States is completely out of control.
Consumers owe more than $600 billion in credit card debt. The
American society is driven by the urge for instant
gratification regardless of whether our impulsive purchases
can be paid for or not.
Spending money you don’t have is easy, credit cards give us
that invincible feeling that we can afford everything that we
see. The truth is that overspending can make you lose touch
with reality and put you in serious financial trouble.
How then do you know the difference between a little
over-indulgence and compulsive shopping? If shopping is the
only thing that makes you feel good, then you might need to
start thinking seriously. It’s one thing to do it once in a
while but it is another thing to do it frequently and
impulsively for a rush. If shopping gets you high, then you
need to stop. To see if your shopping sprees may be more than
just a day out, Debtors Anonymous suggests asking yourself
these key questions:
· Do I shop to make myself feel better, happier, or more liked
by those around me?
· Do I often hide my purchases from my friends and family?
· Do I worry how I’ll pay for my purchases, but buy them
anyway?
· Do I consistently spend more than I make?
· Do I feel shame or guilt after a purchase?
· Am I using bill money to buy senseless items?
· Do I panic at the thought of living without my credit cards?
· Do I regularly use one credit card to pay off another?
· Do I live in constant chaos and worry about money?
If your answer is yes to any of these questions, it may be
time for you to seek some financial as well as emotional help.
Therapy can easily help you handle the feelings behind this
need to purchase love and admiration while credit counseling
can easily help you sort out your financial issues and get
back on track.
How can you get started on the road to financial freedom?
Start here:
Acknowledging that you are addicted to shopping. If you keep
yourself in denial then the chances are that you’ll keep
shopping. Look at your bills and check if they’re reasonable
or outrageous, make a list of all that you owe regardless of
how big or small the amount is. After this you should take a
look at your home and decide if you’re living the life of
someone that has a lot of debt.
Find a credit counselor. Learn to spend more sensibly. Create
a budget and stick t it.
Pay smaller bills first. This will give you some level of
success, and the strength to keep going.
Find new ways to feel good. Exercise is known to release the
same levels of feel good chemicals into your body as shopping.
Get high on exercise instead.
Get support. Talk with friends, family, or a good counselor.
Join an over-spender’s support group if necessary, just be
sure to surround yourself with people who can understand your
addiction, and support your recovery.
Learn to be content. Do you like your car? Then, why buy a new
one? Stop trying to impress those around you with things.
Learn to be happy with what you already have.
Control your spending, find new ways to make yourself content
and happy, and someday you may open the mailbox to discover
all of your outstanding debt has been paid in full. |
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Savings
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07/30
Spotlight on: Santander's loyalty tracker bond
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