Sun. Jun 20th, 2021

Do Your Money Problems Stem From Addictive Behavior?

Money problems affect most of us from time to time. Being at an early stage of your career; going through life changes such as marriage or starting a family; facing unemployment; and unexpected life events which bring unexpected costs, such as illness or the death of a family member are all issues that cause temporary money problems. But sometimes money problems are long-term, the causes are deeper, and the solutions are more dramatic because they require lifestyle changes.

Addiction and Money Problems

Most addictions have a serious impact on finances. In fact, financial problems are even cited as a possible symptom of addiction for substance dependence and compulsive gambling in the Diagnostic and Statistical Manual (DSM-IV) used by mental health workers to diagnose mental health problems. Although alcohol dependence, drug addiction, and internet addiction all tend to carry significant financial costs, both in terms of paying for the addictive substance or behavior, and in terms of the time taken away from other activities, including work, gambling and shopping addiction almost always lead to money problems, simply because they strike at the core of the addict’s finances. Without money, there can be no gambling, and without money, there can be no shopping.

How Denial Keeps Overspenders Addicted

Denial is common among people with addictions of all kinds. Basically, denial is a way that you hide the truth of your addiction from yourself, for example, by making excuses, by blaming others, by blaming circumstances outside of your control, or by kidding yourself that you are in transition and that circumstances are about to change. Denial is used to cover up addiction from other people but is also used to avoid facing the fact that you are addicted, and that you will continue to have money problems until you overcome your addiction.

Overspenders can blame others for money problems in a variety of ways. The overspent addict might blame their partner for poor money management, they might blame their children for having material needs, they might blame their boss for needing them to look good for work without acknowledging that designer fashions every season are not actually a workplace requirement, or they might blame enemies for frustrating them to the point where they need “retail therapy.”

Take Control of Your Money Problems

Like all addictions, the solution to money problems for shopping addicts and overspenders is both simple and difficult. You need to take complete responsibility for your actions and for the consequences of your actions, and to take control of those actions by monitoring and making careful decisions about what you spend your money on.

Continue reading the article:

https://www.verywellmind.com/do-your-money-problems-stem-from-addictive-behavior-22177

%d bloggers like this: