ARE YOU A SHOPAHOLIC?

When we are feeling down or depressed, nothing seems to work quite so well as retail therapy but many of us end up spending far more than we can afford and then have to suffer the consequences of losing financial control.

Some of the symptoms to watch out for are:

·                    never being sure if the cash point is going to pay out the amount you expect

·                    a bank account that is always overdrawn

·                    losing track of direct debit and standing order payments

·                    borrowing money on a regular basis

·                    paying the minimum amount on credit cards, at the very last moment

If any, or all, of the above apply to you then you could be heading for financial disaster but there are certain ways to deal with the problem.

·                    Keep a special diary in which to make a note of your daily expenditure.  This will help identify which areas you can control.

·                    Make a conscious effort to ask yourself if you really need something before you buy it.

·                    Make a shopping list of the essential items you need and stick to it.  Resist the temptation to buy additional things as you wait at the check out.  It wil be good for your waistline as well as your wallet!

·                    Set a financial limit before going shopping and take a calculator with you to add up the cost of items as you shop.

·                    If socializing is an important part of your life look at inviting friends over for supper and asking them to each bring a dish, rather than going out for an expensive meal in a restaurant.  It will actually be far more fun.

·                    If you pay an expensive gym membership but are often too busy to take full advantage of the facilities, look at other, cheaper ways of exercise, for example walking or jogging round the park.

·                    Don’t go to sales unless you are looking for something specific.  We all have cupboards full of “must have’ items that we have never used or worn!

Becoming a disciplined consumer takes practice and willpower but it is certainly well worth the effort.

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