By: Greer Lean
Submitted: 2009-01-08 16:03:24 | Word Count: 528
Have you ever found yourself going shopping just because you were feeling a little depressed and needed something to do? If so, you are not alone — a recent survey showed that 74 of the world s consumers admit to having shopped for purely recreational reasons, even though they did not need to buy anything.
How can shopping be a cure for the blues? In the long run, all it will do is make your situation worse. After you come back from your spending spree you invariably begin thinking about your problem again, only now you have less money than you did earlier in the day. In a nutshell: you re still depressed, but now you re also broke. That makes you even more depressed, which causes you to feel guilt about your actions and lack of financial self control. Before you know it you find yourself spinning further and further into a financial and emotional black hole.
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We compound our problems when our recreational shopping is done with high interest credit cards. Credit card holders often make only the minimum monthly payments, thereby turning their credit card account into a perpetual long term debt. They pay interest on their account balance month after month after month but never seem to pay down the balance.
Now, contrast the situation above with that of a person able to exercise some financial self control. Sure, they have bluesy days, just like the rest of us, but they know that recreational shopping is only going to make matters worse. And they can take comfort knowing that financial troubles will not compound their problems. People with financial self control use money to create positive feelings about themselves. They take pride when they buy something, knowing that they worked hard and saved up the money until they could afford it. They even have money set aside in savings, giving themselves a sense of ease and security.
So, put away those high interest credit cards and begin working out a budget to pay off your bills and ultimately reduce the portion of your income that goes to pay debt. This will take a lot of financial pressure off of you and consequently make it easier for you to feel good about yourself — erasing the need to go recreational shopping to forget your troubles. If you find yourself just wanting to go shopping out of pure boredom, you need to find a serious hobby or sport. Go surfing, join a hiking club, do anything at all to keep yourself out of stores when you don t need to buy something specific.
If you do find yourself in need of quick cash for necessities, instead of reaching for your credit card, consider a payday loan. In seconds they can provide you with the fast cash you need and an affordable payment schedule that direct debits straight from your account at your next payday. So instead of racking up thousands of dollars, keep your borrowed money from spiralling out of control with this method of short term lending on small amounts. You will have a far better commitment to paying it back when you are obliged to in writing!
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