Compulsive Spending

According to a Stanford University study, 17 million Americans or 6% of the population are compulsive spenders or shoppers.  Researchers from the University of Florida reported that the average compulsive spender is carrying $23,000 in debt (not including a home mortgage).  Compulsive spending can be thought of as a chronic tendency to purchase products far in excess of a person’s needs and resources.  Are you a compulsive spender?  At what point does a fun shopping habit become a problem behavior that needs to be addressed?

compulsive spending

One of the main differences between compulsive spending and non-compulsive spending is that compulsive spending usually results in negative consequences. Some of these consequences are:
• Stress from increased debt or trying to figure out how to pay for everything
• Marital or relationship difficulties due to hiding overspending or lying about it
• Legal, family and relationship difficulties caused by massive credit-card debt
• Guilt and shame associated with the problem of compulsive spending
• Increased anxiety and depression

Compulsive spending is a symptom of a bigger problem.  Compulsive spenders use shopping as a way to improve their mood or avoid troubling feelings like depression, sadness, anger, emptiness, boredom or low self-esteem.

Admitting that your spending is out of control is the first step to overcoming a problem.  For free and confidential help for you or one of your dependents, contact your Employee Assistance Program (EAP) for professional counseling, referrals or additional information.  We’re here to help you.

Facebook Twitter


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s