The shopaholic disease

BABOKI KAYAWE
Staff Writer | Friday June 25, 2010 00:00

However, when it becomes uncontrollable and leads to debt this can cause problems.

The term shopaholic is aptly coined to describe people who fall into the trap of compulsive buying without much thought or care to the dire consequences of debt until they are in way too deep

It is also ironic how financial experts more often than not advice the general public on financial literacy and maturity through savings and investing in the stock market without necessarily extending this educational information to spending wisely.

The Shopaholic series by Sophie Kinsella, under the pen name Madeline Wickham reveals how serious this practice is in The Secret Dreamworld of a Shopaholic (2000) known as the Confessions of a Shopaholic in India and the USA (also a movie adaptation).

Here the main character Rebecca 'Becky' Bloomwood, a financial journalist, is in a serious amount of debt through her shopping addiction. Unlike Becky, Elizabeth Moitlhoki's soul is not buried in debt, but similarly she cannot stop shopping whenever her purse affords her a trip to the shopping malls. Moitlhoki's addiction is purely on fashion.

She is quick to say this attitude usually lands her in financial complexities as she always prioritises fashion over some basic requirements of life.

'Currently I don't have cooking gas but I decided to use the money meant for its purchase to buy clothes,' she says.

She admits that this often leads to impulsive buying which always leaves her monthly budget under strain. Though she tries to instill financial discipline in her life, she says this part always eludes her.

Kesegofetse Sentsima of Palapye, is another young woman who never stops shopping whenever the weight of her purse allows. Sentsima finds emotional therapy in shopping for clothes. Whenever she gets herself something new she is uplifted emotionally. Yes, shopping for recreation!

'Whenever I am emotionally strained or sad I go shopping, but when I don't have money I am doomed,' she says.

She says she does not have self-control when it comes to shopping, an act that always leaves her without money in the middle of the month. It is only then that she tries to impose self-control but it is usually short lived as she goes back to her ways when she gets paid.

'When I am really broke, I look back and vow to do away with my shopaholic mentality but it is hard,' she says.Though shopping is a remedy for her emotional downs, it is also a malady as it inflicts financial stress on her. She admits having adequate financial literacy but she cannot get herself to stop shopping. She adds that this is a problem as Batswana are a spending nation, very quick to adopt other people's lifestyle though they do not necessarily adopt habits such as investing in things like retirement and their children's education. 'The effects of being a shopaholic are quite a burden but despite knowing all this it's hard to implement the required financial discipline,' she says.

Sentsima is one of the many trapped in shopping for emotional upliftment. Deborah McKinlay writes in northdevon.co.uk that this is a serious problem for women as a lot of them shop for recreation. The thing is, women always decide that they do need to buy something on these occasions, and, often this need or desire to buy something leads to an attack of 'the spends'. The worst outcome of an attack of 'the spends' is buying something that you absolutely do not need, that you absolutely cannot afford,' she writes.

Richard Harriman, a columnist (Consumer Watchdog) says a shopaholic is someone who either seems to have no control over their spending or who seeks comfort in spending.

'I think it's also worth reflecting that this is only really an issue if it causes damage,' he says.

He says someone who is very rich can shop as much as they like but if the rest of us behave like this, sooner or later it is going to be an inconvenience as it has the  potential of leading us into debt that we cannot manage and 'that's when things go very bad indeed.'

Harriman says that this attitude is fuelled by numerous advertisements that surround people in the papers, radio and on TV that often encourage people to spend more and more. He says the life that is often portrayed on TV and in films is rarely one of poverty, usually one of luxury with endless consumer goods which few people can afford.

' I think that leads to a perception that we all deserve and should have that level of comfort and possessions.  I also think it distracts from things that actually matter more,' he adds.

He says the danger is very significant as excess spending impacts negatively on real essentials in life like accommodation, food, medical aid, transport and school fees. 

'Credit is just a way of buying by borrowing and is the most expensive way to buy things.  Buying things on credit can cost double, sometimes even triple the price you would pay with cash and often the item you're buying won't even last for the time you pay for it,' he says.

He advises that if people cannot stop spending they can begin by cutting up all plastic forms of payment, whether a credit or debit card. He adds that 'plastic' makes spending easier but it also sometimes makes it 'too' easy. 

'Buy things using money you already have, and money that you have specifically set aside for the items you want,' he says.