Retail Therapy and Bonding with your Money

We've probably all hit the shops from time to time to give ourselves a little boost. A new outfit or something cool for the condo can certainly be a good mood booster for any woman. But when does a little "retail therapy", something innocuous and comforting, become a more serious issue? When does the fun end and the addictive behavior take over?

Psychologists have been looking at the reasons people deal with depression and anxiety by taking a trip to the mall. Most of the time, they find that shopping is a simple pleasure enjoyed throughout history by women of all cultures, whether at the village market, the great trading bazaars of the Orient, or within the garish delights of the West Edmonton Mall. Certainly no major reason for guilt or shame or buyer's remorse here -- other than a problem of what to do with that oversized brass samovar that you've packed back from Morocco!

Are you an Omniomaniac?

Researchers in Australia have classified problem shopping as a psychological disorder called oniomania, or compulsive shopping disorder. The clients that I typically deal with would not be considered true "shopaholics" by any means. They do, however have some important spending issues they want or need to deal with. Many are concerned that they overspend or they don't feel they have good control of their expenses. Maybe they have run up their credit cards or lines of credit to an unacceptable level. A little education, a bit of discipline, some forward thinking, and a practical plan of attack will set most people right back on track.

I think most people just spend unconsciously - going out for dinner because they are tired and don't feel like cooking, or treating themselves to a manicure as a reward because they work hard. Maybe they put their vacation on the old credit card and hope for the best to pay it off in the next few months. It often boils down to some disorganization, a little laziness, easy access to credit, and a general feeling of being overwhelmed -- so what the hell!

Where do you place on the spectrum between shopping for fun and retail addiction?

If you're worried about your spending, it might be a good time right now to ask yourself a few questions:

1) Are you experiencing signs of anxiety or depression around debts and spending?

2) Are you are having difficulty managing your finances, credit cards or debt load?

3) Are you are hiding or disguising your spending from your spouse or partner - or rationalizing it to yourself? In other words, is there some denial at work here?

4) Do you or others frequently comment on your spending habits - even if they - or you - are "just joking"?

5) Are you juggling accounts or can't cover important expenses, because you have overspent somewhere else? Remember, these don't have to be major purchases either. Many people "nickel and dime" themselves into difficulty.

6) Have you put off your important life goals because you are spending money on things you neither really want nor need?

Chances are that you, like most of my clients, fell somewhere within a "normal range" on this simple quiz, but you could still use some help getting organized with a plan or a system to manage your money and your spending better. Time to take action?

Get a Handle on Your Money and Your Life
If you want to get a better handle on your money -- and your life in general -- then check out the The Madness of Money evening. The recent financial meltdown is a wake up call to remind us that we all need to take more personal responsibility for our money- how we make it, how we manage it and how we invest it. This evening will not only help you handle your spending and savings better, but you will also drastically reduce your level of money stress and open your life up to new possibilities.