5 Signs You May Have a Spending Problem

Some habits are good, and some are not, right?  Do you have a habit of overspending?  Do you have buyer’s remorse after a spending spree?  Is your spending sending you into debt?  If you still aren’t sure that you may be spending more than you should, here are five signs that may be hard to deny.   

#1. You’re not honest about your purchases 

People that have overspending problems will often try to hide the things that they’ve purchased.  Typically, they won’t tell family members or partners about their purchases and will even go as far as trying to sneak their purchases into their house and then try to act as if they already owned the item.  If this sounds like something you do, you may have an overspending problem. 

#2. You lie about going shopping 

People that have a spending problem will often lie about where they are going – anywhere but the shopping mall!  They know they shouldn’t, but they do so out of embarrassment or denial.  The sneaking around and lying about your shopping trips is strong proof that you have a spending problem.    

#3. Your relationships are becoming strained. 

Sound relationships are built on trust, and you cannot build trust if you are lying about where, when, and how you spend your – or your spouse’s – money.  If you’re racking up debt as well, you are doing nothing to build or maintain a sustainable relationship.   

#4. Shopping has become your favorite hobby. 

Shopping is not a sport, so don’t kid yourself.  If shopping has become your favorite pastime, you need to find a hobby or activity that will improve your life, not cause you to spiral into debt and sour or end your relationship.  You may feel better about yourself in a new dress or shoes, but it’s only temporary.  Explore activities that make you feel good about yourself continually.  

#5. Do you use credit cards for your purchases? 

Overspending is a quick way to run out of cash, so most people that have an overspending problem will end up signing up for one credit card offer after another so they can continue to make uninterrupted purchases.  This is when things really begin to spiral out of control, and you know that you have a serious problem with spending.  

Does this sound like you or someone you know?  If so, help may be needed to control this spending behavior and there are many resources available.