In 2008, our country saw one of the worst economic declines in the course of United States history. Our stock market crashed, millions lost their jobs, and the housing market went south. America was left wondering if they would ever recoup financially.

One would think that, like our predecessors from the stock market crash of 1929, Americans would become much more frugal, spend their money sparingly, and save money like they had never saved it before. Interestingly enough, that did not happen.

Instead, we have seen a rise in spending and shopping addictions. Many individuals have taken the opposite stance of the Great Depression. People have applied for credit cards at alarming rates; spending like never before; and buying items that they don't necessarily need, but that they want. When the bills arrive, they engage in creative financing to pay the bills. All the while, they continue to spend uncontrollably. Before they know it, they are in deep debt and the foundation has been laid for a spending or a shopping addiction.

Typically, a person develops a spending addiction because they feel some sort of inadequacy. Buying more and more items gives them a sense of importance and fills a void. Shopping or spending addicts will often state that they shop or spend to 'numb', or to 'fill up'. They are often the individuals that will pick up the tab at a restaurant even though they cannot afford it.

The dangerous issue is that these persons will often have to spend at increased amounts in order to achieve their 'high'. As time marches on, they purchase higher-priced items more frequently.

As the addiction continues, the person may lose relationships in their life. Their sense of self-worth may decrease. They may experience extreme guilt and shame. All of these things may occur above and beyond the astronomical amount of debt that they accrue.

Often, this behavioral addiction is laughed off by society, because as Americans, we are encouraged to cushion the economy and to spend money to bolster it. Individuals suffering from spending and shopping addiction can fool themselves into believing that they do not have a problem. It can go on for years due to the enticing nature of the media, advertisements, stores and online dealers.

There is often a large overlap between spending addiction, depression or substance abuse. Since 2008, therapists, financial planners and financial advisors have seen a huge rise in this issue.

Treatment typically consists of helping the affected person learn to set a budget; understanding what caused and/or led to the addiction; circumstances that triggers spending; and learning how to stay away from those triggers. A therapist or counselor can help the person learn how to spend wisely; learn a want vs. a need; and help to build healthy, non-spending related coping skills.

If you or anyone you know is dealing

with a shopping or spending addiction, please contact

Tricia Stehle, LMSW or

Perspectives Counseling Centers 

248.244.8644