Living in today’s society can cause a lot of stress and worry especially as finances have to stretch further and further whilst technology rapidly develops which can be expensive.Trying to keep up-to-date with all the latest mod-cons as well as following the trends and fashions of the rich and famous can add hugely to this stress.Developing a spending addiction is becoming more common and there are many reasons for this.
Modern Living.
As technology develops more and more inventions that are supposed to make our lives easier and more enjoyable, the more people may find their financial situation growing increasingly difficult to manage. Machines, devices and entertainment now all come with a high price tag, and trying to provide these for your family can be hard. Wanting to keep abreast of these developments can cause people to develop a spending addiction. This addiction not only provides the person with all the things they want but also gives a feeling of being on a high. This ‘high’ feeling becomes increasingly difficult to achieve so the spending has to grow with the intensity of the desire feeling meaning that the purchases get more expensive or the gestures become grander.
The Dangers Of Spending Addiction.
The biggest danger of developing a spending addiction is the possible consequences to your financial status. Initially the person may spend as they can afford but as the addiction develops and the purchases grow in expense, number and size the price tag inevitably increases. As debt begins to grow the person may feel trapped by the restrictions put on them by this and feel depressed and have low mood. These feelings increase the chances of the person indulging in their addiction as they try to make themselves feel better by buying something new which causes their debt to increase further and so begins a vicious circle.
Noticing A Spending Addiction.
There are some signs that someone you know or live has developed a spending addiction. Firstly they may suddenly have an increase in the amount of post they receive as banks and credit cards are contacted for financial help and debt spirals.Also the person may begin to wear lots of new clothes that they may only wear once or twice before discarding. They may also come home from being out shopping and disappear to another room so that those around them do not see their purchases as they feel embarrassed or ashamed as the addiction develops.The person may also start to borrow money stating reasonable excuses for needing the loan; this may be followed by being unable to pay it back on time if at all.
Spending addictions are growing in Britain every year as people feel more pressured to have the best of everything or provide for their children, as well as trying to follow fashion and this can cause serious repercussions that may affect the rest of their life if they run up large debts and can’t pay them back.The consequences of being in debt can also affect mental health as the person tries to deal with the addiction, the withdrawal and the consequences to the rest of their life.
I think i have a problem with online games, the ones where you are giving a certain amount of energy or whatever and when it runs out you can pay for more. My daughters have been complaining about it and have pointed out that i have been spending around £300 per month, an amount i can't really afford but i enjoy the games and, if i have the money i will buy extra lives etc. The problem is that the amounts are quite small but soon mount up and i don't realise how much it is amounting to. I have been fighting against them as i don't see it as an addiction, i don't drink or smoke and my children are all adults now, i love reading and playing games so i said to them that i didn't see their problem, it was my money all the bills i needed to pay had been paid so what i did with my money that was left was up to me. I know i shouldn't do it, it's wasted money but it gives me pleasure. I have had so many arguments with them about it and i now realise i need to do something about this. I have removed the games from my devices but they are easy to download again so i need to resist the temptation, any advice or help to point me in the right direction would be gratefully received.
Loz - 17-Feb-21 @ 5:57 PM
I think i have a problem with online games, the ones where you are giving a certain amount of energy or whatever and when it runs out you can pay for more. My daughters have been complaining about it and have pointed out that i have been spending around £300 per month, an amount i can't really afford but i enjoy the games and, if i have the money i will buy extra lives etc. The problem is that the amounts are quite small but soon mount up and i don't realise how much it is amounting to. I have been fighting against them as i don't see it as an addiction, i don't drink or smoke and my children are all adults now, i love reading and playing games so i said to them that i didn't see their problem, it was my money all the bills i needed to pay had been paid so what i did with my money that was left was up to me. I know i shouldn't do it, it's wasted money but it gives me pleasure. I have had so many arguments with them about it and i now realise i need to do something about this. I have removed the games from my devices but they are easy to download again so i need to resist the temptation, any advice or help to point me in the right direction would be gratefully received.
Loz - 17-Feb-21 @ 1:45 PM
Hiya, I am a support worker and have a service user who openly admits to having a spending addiction. Do you any advice or groups that she could attend in the medway area me2. I would appreciate your advice and guidance on this matter.kind regardsAmanda cairney support worker
mandy - 30-Apr-13 @ 9:00 AM
i have recently identified with assistance of my spouse that i have a long standing addiction to spending - just a feeling that money is burning a hole in my pocket. i usually spend online buying cds or when out food and stuff i dont need. i am not happy about it and have become quite distressed over it but still cant control it even giving my wife my cards to keep hold of and supervising spending.i put it down to confidence issues as i dont actually like shopping. ive been referred for counselling but need something in meantime as it could take a while.
