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Compulsive Spending is the Biggest Behavioral Block Against Fugal Living

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In this article, we would deal with a major involuntary problem some people face in their attempts to lead a ‘frugal living. It is involuntary because of the fact that it is a medical problem associated with some chemicals in their brains which cannot be controlled in a normal manner. In other words, they differ from normal individuals. Because of the release of some endorphins in their brains, they say that they feel good when they are given to ‘impulsive spending‘.

According to Medical Psychologists, these people may exhibit the following characteristics:

1.Feeling lost without credit cards.

2.Feeling guilty or ashamed after spending.

3.Lying about purchases or amounts spent.

4.Spending a lot of time juggling money to meet monthly bills.

5.Feeling embarrassed or inhibited during what should be normal discussions of money.

6.Feeling little concern about bills that don’t have to be paid this month.

7.Feeling that someone else will take care of your bills if necessary, so you’ll never really get into serious financial trouble.

These types of behavior can cause personal, financial and employment problems. People with compulsive spending addiction can also turn to criminal activities to obtain the money needed to feed their habit.

It’s very much similar to an alcohol or drug problem, as one cannot just tell an alcoholic or a drug addict to shoe away from his/her problem(s). It is all the more worse, because, even when they know that the expenses are out of control, still, it would not make them to come out of the problem.

Compulsive spending further can be traced to cultural factors and it has no age or gender relevance. It is pervading in developed economies with the U.S.A. leading because of the American attitude of accumulating possessions with out thinking as to how to honor the payments when it becomes due. This attitude has got accentuated with the advent of net, where on line purchases are made recklessly.

Compulsive spending can camouflage other mental illness as depression, obsessive compulsive behavior which takes place with an increase in pleasurable activities combined with a decrease in rationale thinking.

Unfortunately, there are no sure medical remedies available to treat this problem. Medical Scientists are still working on drug remedies, but, this problem has to be dealt through a counseling intervention. The rest of the portion of this article deals with such interventions.

Intervention

Some problem spenders respond to gentle suggestions that they may need to re-evaluate their spending habits, Others may need an intervention staged by a specialist to recognize their problem and seek treatment. Either way, concerned friends or family should approach a person suffering from any addiction carefully.

“Talk about the behavior and how it affects you,. “‘I statements’ are important. ‘I’m concerned for you,’ and ‘I’m worried about you.’”

“Recognizing that one needs help is the first step, but a lot of people can’t see that. “If you can’t make your house payment or rent, and simply if one cannot meet those basic needs, one is in trouble.

It has also to do something with their feeling secure. For instance, if they do not possess that ‘plastic card’ they feel insecure and inadequate. For such people, the following suggestions may be of some help.

1.Cut up credit cards so the temptation to use them is not there. Keep one credit card and use it only for emergencies. Close as many credit accounts as possible.

2.Use cash as often as possible.

3.Ask a trusted friend or relative to help you monitor your spending. You may need someone to tell you, ‘You need to pay off that utility bill more than you need a new outfit’.

4.Could one have a spending problem? If one responds with “sometimes” or “often” to four or more of the following questions, he/she has overspending tendencies. If one answers “sometimes” or “often” to Question 7, he/she is most probably a compulsive spender. KINDLY NOTE THAT THIS IS ONLY INIDCATIVE AND IS NOT CLAIM TO HAVE EMPRICAL VALIDITY.

1. Do you buy things you want, whether or not you can afford them at the moment?
2. Do you have trouble saving money? If you have a little extra available to put in the bank (or to invest), do you tend to think of something you’d rather spend it on?
3. Do you buy things to cheer yourself up or to reward yourself?
4. Does more than a third of your income go to pay bills, not including rent or mortgage payments?
5. Do you juggle bill-paying because you always seem to be living on the edge financially? For example, do you tend to pay only the minimum balance on your credit cards?
6. Do you tend to keep buying more of your favorite things — clothes, CDs, books, computer software, electronic gadgets — even if you don’t have a specific need for them?
7. If you have to say “No” to yourself, or put off buying something you really want, do you feel intensely deprived, angry, or upset?

(Source: Overcoming Overspending: A Winning Plan for Spenders and Their Partners: by Olivia)

Tips to avoid compulsive spending

• Realize that anything you obsess about is not healthy behavior.
• Set a realistic budget, listing what obligations your earnings must meet. Arrange your budget so bills can be paid at least a week early. Not only set saving goal but also implement it systematically.
• Shop with a list and buy only what is on that list.
• Make it more difficult to repeat compulsive shopping behavior. Avoid your favorite stores. Shop with a trusted friend. Throw away mail-order catalogs.
• Shop in smaller, quieter stores where there are fewer choices, activities, people and stimulating noises/lights. Make shopping a chore, no more exciting than mailing a letter.
• Open your mail each day. Balance your checkbook and pay bills weekly. Deduct checks from your account total as soon as you write them.
• Delay any purchase that doesn’t feel right. Ask yourself, “What’s the worst that could happen if I don’t buy ..?”

The purpose of this article would be accomplished if it helps at least one compulsive spender to get away from this life-disrupting habit and turn him/her towards a achieving a frugal living.

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