One of the biggest reasons for credit card debt is a shopping addiction. Someone who suffers from this disorder is compulsive and cannot help themselves. They may know they have a lot of debt and that they can’t afford whatever they want, but they buy it anyway.
It is important to note that a shopping addiction is not the same for everyone. It takes a few different forms.
For some, it’s all about finding that perfect item. It’s like a trophy. They want people to know what they have, they want it to be the best and they want to show it off. They may be able to afford a $20,000 car, for instance, but they buy a $50,000 luxury car instead.
For others, it’s a reaction to emotional distress. They feel stressed out or depressed, and they shop to deal with it. This is similar to how some people drink or eat when they feel stressed.
A third form is when people are addicted to bargains. If they think something is a good deal, they buy it — even if they don’t need it and can’t afford it. When someone points out that they shouldn’t have bought it, they’ll talk about how much money they saved, despite the fact that what they actually did is spend too much.
A shopping addiction is a real addiction that can lead to all manner of financial problems. It can be hard to overcome. Those who find themselves facing high levels of credit card debt must know what legal options they have and what steps they can take.