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Seven signs you're addicted to shopping -
By Annie Shaw, Moneyextra.com
Seven signs you're addicted to shopping Advertisement By Annie Shaw, Moneyextra.com September 01 2006 We're a nation of shopaholics. A recent survey by a women's magazine found that eight out of 10 women aged between 21 and 25 spend more than they earn, 46% have credit card debt and over half have managed to spend their wages before they get paid. Celebrities show us how and where to spend. Wayne Rooney's girlfriend, Coleen McLoughlin, looks almost undressed when she is not festooned with designer label shopping bags. Victoria Beckham is believed to spend £100,000 a year on her wardrobe, and seems to spend more time shopping than doing anything else. But an affordable hobby for the rich and famous can be the root of financial distress, family break-up and long-term misery for the less well off. Psychiatrists believe that, while 'compulsive shopping' is not a specific mental disorder, it may be an addiction associated with low self-esteem. In short, we shop to make ourselves feel better. When Britney Spears' parents separated after 30 years of marriage, Britney went on a spree, and among her purchases was a $20,000 bed. Elton John managed to get through £30m in just under two years, including £293,000 spent on flowers. Tara Palmer-Tomkinson signed up with Debtors Anonymous after blowing £50,000 on designer labels. Could you, too, be on the rocky road to shopaholism? Ask yourself the following questions:
1. Do you go shopping to cheer yourself up, and end up buying things you don't need? Curb the urge simply to spend money. Window shopping can be fun too. 2. Is your wardrobe full of clothes and shoes you never wear? Chuck them out, or take them to the charity shop. During your clearout you may find some hidden gems you forgot you had. 3. Worse, are the tags still on some of the items? Sell these on eBay, to recoup some of the money you've been spending. 4. When you buy a present, do you buy an item just like it for yourself, or, worse, forget all about buying it for the other person? Learn to take pleasure in other people enjoying things. You don't have to own everything you like. 5. Have you ever bought a dress or a pair of shoes that is too small or too big because you “loved them so much” or “they were such a bargain”? When you go shopping, take a friend with you as the voice of reason. 6. When you visit a ritzy department store, do you know the layout by heart and exactly where each department is? You must be visiting it too much. Take a walk in the park, or go to a movie instead. Taking exercise instead of shopping is not as crazy as it sounds. Exercise releases dopamine and endorphins – feel-good chemicals – into the brain. These give you the same buzz you get in attempting to satisfy the cravings of an addiction. 7. Are you afraid to open your credit card bill? Always be aware of how much you are spending. Never miss a credit card repayment, or make just the minimum payment, as the interest and penalties will start to get out of control. Restrict the number of cards you own, and if you are concerned about your spending, get rid of them all.
Where to go for help If you are really in financial trouble, don't think the problem will simply go away. Don't attempt to borrow more, but seek help immediately. Get help from a free source, such as the Consumer Credit Counselling Service, a registered charity, which last year gave help to more than 200,000 people via its free helpline: 0800 138 1111.
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