What is the Spending Addiction?
Spending and shopping are very socially acceptable in our society and advertisers work hard to convince us that buying things will make us happy. Many people are prone to social comparison and there is an allure to wanting what you see others have. Frankly for many, their possession become a measure of their self-esteem. Because of this thinking and mentality our culture abides by, it is only a small step further for those people with addictive personalities and tendencies to cross the line and develop a spending addiction. Although there is no official diagnosis for spending addiction and many experts disagree about whether it is a real disorder, it has been recognized as far back as the early 19th century. It is estimated that about 6% of the population may have a spending addiction, which often starts in their teens or early adulthood. With the advent of online shopping, spending is increasingly more available, accessible, and anonymous. We’ve seen increases in other behavioral addictions such as sex addiction, gaming, and gambling which have all flourished on the internet.
Diagnosing the Addiction
At present there is no unified set of symptoms or criteria for spending addiction, but we will discuss the common features and traits, many oread more