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Recognizing Signs of Financial Addiction

Recognizing Signs of Financial Addiction

: Richard West Law Office

signsNo one intends to become a shopaholic or have other financial issues. Fiscal responsibility is a huge concern for most Americans, and the majority of people want to stay financially stable. However, no one is immune to financial addictions, no matter how invincible they feel. Financial addictions like shopping or gambling often lead to negative consequences, so it’s vital to recognize the signs.

Adrenaline Rushes

One of the biggest draws of financial addiction is the high it gives sufferers. Everyone likes buying a new gadget or outfit, and plenty of financially responsible people enjoy playing slots now and then. However, if you find yourself experiencing unusual highs from a shopping trip or spending money on a luxury vacation, it might be time to get help. Intense cravings for that adrenaline rush also signal a problem.

Ignoring the Numbers

Most of the time, the numbers on a balance sheet or bank statement will tell you when it’s time to visit a Cincinnati bankruptcy attorney or downsize your living standard. Some people read those numbers and feel alarmed, but continue spending and racking up debt. In fact, these people often spend money as a way to avoid the stress their debt causes.

Buying Useless Items

As noted, many financial addictions are related to shopping, but this doesn’t always mean new outfits, gadgets, or “fun” things. An addict might go out and buy a new table because he or she truly needs one, but then decide he or she “needs” an extra leaf for $20 more. Some addicts may also love shopping so much that they no longer care what they buy. These are the people who come home with mounds of bric-a-brac, duplicate items “in case I lose one,” or items they know they can’t use.