Shopping has always been one of the nations favorite past time. Unfortunately for some, it got a bit too expensive. People who can not control their spending are referred to as compulsive spenders. Simply put, compulsive spending is a behavior where you buy things you want even if you can not afford them or have any use for them. You buy for the sake of buying. Regrettably, the temporary happiness you may feel urges you to spend more. At the end, you rack up a large credit card debt and ruin your financial life.
The first signs that you will notice is when you are lying about your purchases or even hiding them. Other signs of compulsive spending include using your checks even if you do not have funds to cover the purchase, shopping when feeling sad or depressed and maxing out your credit cards.
If you have noticed that you have been doing these things, you should stop immediately. Compulsive spending can ruin your life if it is not controlled. You could end up losing whatever assets you have such as your jewelries, car and even your home. If things get really bad, you would be harassed by creditors and you might have to declare bankruptcy.
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