Lesson 14 - Breaking free from addictive spending

In today's consumer-driven society, it's all too easy to fall into the trap of addictive spending. You are not alone.

From enticing advertisements to discounts, we find ourselves constantly tempted to indulge in impulsive purchases, often leading to financial stress and a sense of helplessness. But there is hope! Breaking free from addictive spending is not only possible, but it can also open the door to financial sobriety and a more fulfilling life.

Addictive spending is a behaviour characterized by an impulsive urge to shop and spend excessively, regardless of how much money you have or actual need for the items. This compulsive behaviour is often triggered by emotional factors, seeking a temporary escape or momentary happiness through material possessions.

We are trying to buy happiness. 

Recognizing that addictive spending is a real issue and accepting the need for change is the first step towards breaking free.

Identifying Triggers -

To overcome addictive spending, it is crucial to identify the triggers that lead to impulsive purchases. Take a moment to reflect on the emotions or situations that prompt your spending sprees. Are you shopping to cope with stress, loneliness, or boredom? Understanding your triggers empowers you to find healthier ways to address those underlying emotions, such as engaging in hobbies, practicing mindfulness, or seeking support from loved ones.

Creating a Realistic Spending Plan - 

Developing a realistic and sustainable spending plan is a fundamental aspect of breaking free from addictive spending. Evaluate your income, expenses, and financial goals. Allocate funds for essentials, savings, and discretionary spending. Having a spending plan not only helps you track your finances but also serves as a roadmap towards responsible spending and financial security.

Embracing Mindful Spending - 

Mindful spending is about being conscious of each purchase and considering whether it aligns with your genuine needs and values. Before making a purchase, ask yourself: "Do I truly need this?" "Why do I actually want to buy this?". Taking three deep breaths before walking into a store or even going onto a website can help support your nervous system so that you can make mindful decisions. Practicing mindfulness in spending helps avoid impulsive buying and promotes a more intentional approach to purchases.

Setting Financial Goals - 

Setting clear financial goals can provide motivation and purpose in your journey to break free from addictive spending. Whether it's paying off debts, building an emergency fund, or saving for a dream vacation, having tangible goals encourages you to stay on track and make conscious choices with your money.

Remember, you don't have to navigate this journey alone.

Please reach out if you would like support.

My email is [email protected].

You can book a free call here: https://calendly.com/lindaparmar/free-30-minute-consultation.

We also have a free Facebook group here: https://www.facebook.com/groups/451104888846418

Breaking free from addictive spending is a transformative process that requires patience, self-compassion, and determination. By understanding your triggers, creating a spending plan, embracing mindful spending, and setting financial goals, you can regain control over your finances and ultimately achieve financial sobriety. 

Join us for the next live class on August 30th where we will be discussing your triggers for spending. All the info for the class here: https://www.lindaparmar.com/class

All the money love sent your way,

Linda Parmar
Financial Sobriety Expert

www.lindaparmar.com