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Are You a Shopaholic? Signs to Know

January 08, 2021 · 5 minute read

We’re here to help! First and foremost, SoFi Learn strives to be a beneficial resource to you as you navigate your financial journey. Read more We develop content that covers a variety of financial topics. Sometimes, that content may include information about products, features, or services that SoFi does not provide. We aim to break down complicated concepts, loop you in on the latest trends, and keep you up-to-date on the stuff you can use to help get your money right. Read less

Are You a Shopaholic? Signs to Know

I shop, therefore I am. Artist Barbara Kruger took a cue from René Descartes to create an iconic image that parodies consumerism.

But let’s face it: Buying stuff—a new outfit, toy, or just about anything—can be thrilling. Clicking “purchase,” waiting days for your new item’s arrival, and finally getting to rip open the packaging can bring on an endorphin rush.

It’s an all-American pastime. Consumer spending recently reached $14.5 trillion.

This joyous purchasing loop, though, can turn into a nightmare for people who become shopaholics.

It’s important to note that there’s a big difference between making one impulse buy for a bit of retail therapy and having a genuine compulsion. Here are a few signs of shopaholic tendencies and how to stop the urges.

What Are the Signs of a Shopaholic?

There are people who merely like to shop. Then there are people who compulsively buy because of a disorder known as oniomania. As the journal World Psychiatry explained, oniomania, otherwise known as compulsive buying disorder, is characterized by excessive shopping behavior that leads to “distress or impairment.” The journal noted that those living with it often have a preoccupation with shopping and have a sense of emotional relief after buying something.

Typically CBD comes with what doctors call “psychiatric comorbidity,” meaning the person usually has another disorder, such as anxiety or a mood disorder. Perhaps most interesting is the fact that the journal says compulsive shopping may run in families.

The prevalence of compulsive buying is a bit unknown, though researchers estimate it to be between 1% and 8% worldwide. While there are no standardized treatments, there are signs and symptoms to look out for so people can become aware of a potentially dangerous pattern. Here are some.

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Purchasing Unnecessary Things

Shopaholics often buy items on a whim, and it’s often an item they don’t need. Psychology Today notes that true shopaholics tend to spend money without reflecting on whether they need the item. That is because it’s not about the item, but rather the euphoria experienced when purchasing the item. This pattern can be used by a shopaholic to fill a need or negate a negative emotion.

The emotional high, though, can be quickly replaced by guilt about spending money without need. (Not sure where your shopping tendencies fall? Take our quiz to find out.)

Accumulating Unopened Goods

Another sign of a problem is leaving unopened boxes or bags in the closet or under the bed. Those living with CBD can develop hoarding tendencies as they accumulate more goods than they need and continue buying.

Concealing Shopping Habits

People living with CBD will often try to conceal their shopping habits. This could be because they feel shame, or it could be because they are attempting to hide their purchases from a loved one.

Feeling Regret

People with CBD may feel remorse after purchasing an item they do not need. They might understand that they didn’t need the item or can’t afford it, or they perceive the purchase as giving in. But remorse can, in turn, force the person back into a negative cycle, as one way a true shopaholic sees a fix is to buy more things.

Treating Compulsive Shopping

There are no standardized treatments for those living with the disorder, but they can learn to cope. As with many disorders, the first step is for a person to recognize that she or he has a problem. Here are a few ways to recognize and improve shopping patterns.

Tracking Emotional Responses

One way to figure out personal triggers is to track them in a diary. Any time a person feels compelled to buy something, they can write down the time and surrounding details.

They may be able to look back and find they were triggered by an emotional event with a friend or family member or feel anxious about events at work or elsewhere. This lends insight into what drives them to want to buy and hopefully helps them avoid those triggers in the future.

Seeking Expert Help

If a shopping compulsion is suspected, it may be a good idea to seek expert help. This can include therapy or psychiatric assistance. A professional may be able to help track triggers and identify any psychiatric comorbidities, as mentioned above. It’s never a bad idea to seek help if you feel you may need it.

Delaying Gratification

Another way to tell the difference between a simple habit and a compulsion is to wait on a purchase. If you see an item you like, it may be a good idea to wait out the immediate emotional thrill of buying. You could ask for the item to be placed on hold for a few days, but sometimes, just a few moments is enough.

Shoppers can choose to leave the store—or the computer—go for a walk, and see how they feel about the item after a pause. If they think they need it or genuinely want it, or it will improve some aspect of their lives, then go for it. Otherwise, leave the item.

To really up the ante on waiting for a purchase, try the 30-day rule. Using the practice, shoppers looking to buy a nonessential item must put it back on the shelf and step away for a full 30 days. At the end of the 30 days, if they still want the item, they can return and purchase it.

Tracking Spending

Buyers who think they may have shopaholic tendencies may be able to know for sure by tracking their spending. Tracking spending can show different shopping habits. It may also be an excellent resource for the aforementioned diary.

By monitoring spending, you can track if there are specific days or times you tend to spend more, or if you tend to spend more at specific stores, and potentially cut back on spending from there.

An easy way to track spending is with SoFi Checking and Savings®. The mobile-first checking and savings account allows users to see all their cash all in one place any time they like.

Using the app, SoFi® members can transfer money to different accounts or pay bills. But perhaps most notably in the case of anyone hoping to curb shopaholic ways, they can also track weekly spending right in the app’s integrated dashboard.

Users can also set up specific budgets and savings goals using Vaults. This way, they may be able to turn a shopping problem into a savings solution. SoFi Checking and Savings® also comes with no account fees.

Want to create better buying habits? SoFi Checking and Savings could help you get there.

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