Are You A Consumer Out of Control?

The Christmas holiday shopping frenzy is at full force. The call of the mall is upon us.

One clever bumper sticker broadcasts: when the going gets tough, the tough go shopping.

However, for some, shopping is no laughing matter. “A 2006 Stanford University study has concluded compulsive overspending . . . . is a legitimate disorder that affects approximately 6% [17,000,000] of the U.S. population. . .”

How can you tell if you are a compulsive shopper? Go through this list of questions from a Personal Management Finance blog:

•Does your closet contain lots of shoes or clothes you almost never wear?

•Do you come home with things you didn't plan to buy?

•Do you use shopping as a quick fix for the blues?

•Do you spend more than you can afford?

•Do neighborhood malls possess a mesmerizing appeal for you?

According to studies quoted on medicine.net shopaholics are a lot like people with eating disorders. Shopaholics are more likely to have anxiety disorders and low self-esteem than normal shoppers. They are also more impulsive than average and tend to be perfectionists.”

Some researchers speculate there’s an imbalance of the neurotransmitter serotonin that can play a part in a shopaholic’s compulsion. Shoppers given Prozac-which alters serotonin levels-stopped overshopping. Once they were off the drug, they went back to their habit of overshopping.

From a helpful financial management blog here are some easy steps to prevent you from falling into the shopaholic pattern.

•make a distinction between a “need” and a “want.” Before your take out your wallet, ask yourself whether this purchase is something you truly need . . . such as groceries, or a new pair of shoes for work, or is it just something you want . . . like a new cell phone with more bells and whistles.

•if you struggle with compulsive spending, stay away from discount warehouses and malls. When you need to run errands, try to avoid major shopping districts and malls.

•don’t be lured by sales and good deals. Think ahead before you shop. Don’t buy five of an item because it’s on sale. Chances are you won’t use the other four items.

•Compile a budget and stick to it. Write down your monthly income; set aside a certain amount for savings and jot down the expenses you face every month (food, gasoline etc). Before you entertain visiting the mall, be sure this list is taken care of. You don’t want to spend cash set aside for gasoline to buy five new purses just because they are “on sale.”

•carry a shopping list. Plan your shopping. If you’re going grocery shopping, walk into the supermarket with a list in your hand. Stick to your list.

•reward yourself once in awhile. If you’ve kept your end of the bargain for a month, do something nice for yourself-a facial, going to the movies or eating at an upscale restaurant.

Are you the kind of person who always heeds the call to the mall? This year try something different and turn down the volume. Start listening to the call of common sense and what’s best for you and your family.

John
Email: johnsblog@teshmedia.com