Dealing with a shopping addiction can be really difficult. If you are finding yourself getting deeper and deeper into debt, it’s time to take action now before the situation gets even worse. Here we have some tips to help you get on top of your finances and kick the compulsive shopping habit for good.
The first step in conquering a shopping addiction is to get to the root of the problem, and find out what caused you to start spending so much. It’s often an emotional trigger, such as a relationship break-up or bereavement. If this is the case, it’s important to solve these issues first, perhaps by seeking expert advice or joining a support group.
In the meantime, start paying with cash when you are shopping as this will allow you to see exactly how much you spend. You could set yourself a budget and only take this amount of cash with you. Leave the cards at home so you won’t be tempted to buy just one more thing.
If you want to find other ways to spend your time to distract yourself from going shopping, look for other activities to enjoy with friends which don’t cost money. You could start going for walks outside, or play a sport you used to love. Make sure to spend lots of time with friends and family to satisfy your emotional needs in ways other than shopping.
Once you have started managing your shopping habits, you need to start dealing with the debt. If you have a lot of credit cards or store cards maxed out, we recommend taking out one loan with decent rates and using this to pay back on all the cards. If you can’t get funding from your bank due to poor credit, online borrowing is a great alternative. http://qualitron.fi is a great website which allows you to quickly compare loans, so you can find something which will suit your situation.
If this isn’t an option, you need to prioritize which cards to pay off first. You should start with those which have the highest interest rates, as letting these build up will continue making the problem worse and waste your money. If you have are going to be faced with debt collectors soon, it’s very important to pay back at least some of what you owe. You don’t want to be taken to court over unpaid bills.
You should also create a system to help you manage your budget. You can find loads of helpful apps on your smartphone, or you could manually monitor things using a spreadsheet or even just a pen and paper. Keep all your receipts, and monitor how much you spend compared to your income. Also note down different debts and cards you owe, and the minimum you must pay towards them each month. This will help you keep on track of everything and help you manage where your money goes. It’s not easy, but by taking things one step at a time you should find you can beat your shopping addiction in the end.…