Are you suffering from Compulsive Buying??

How often you buy things with compulsive mode and felt sorry about your decision at later stage? We know few are almost regular suppliers for sites like OLX đŸ™‚ But buying unnecessary things and selling it online is what is called best finance??

Few people have tendency to buy things unnecessarily and they just waiting for right reasons to shop. All because to ease their stress. Yes they shop to ease their stress. Such syndrome or mental behavior called as “Compulsive Buying or Spending“. Such behavior is very much exists in families or society where materialistic things have more importance.

What are the symptoms?

People who suffer from such mental disorder usually have an irresistible urge to buy things at any cost, whether they are useful to them or not. It is exactly like other disorders such as eating, watching TV or some other syndromes. This buying is actually a few minutes of satisfaction. But after that they feel disappointed and just eager to hide their wrong doings by being a seller at few online portals.

It was defined by Kellett and Bolton as “is experienced as an irresistible–uncontrollable urge, resulting in excessive, expensive and time-consuming retail activity [that is] typically prompted by negative affectivity” and results in “gross social, personal and/or financial difficulties”.

What causes them to buy?

As I said above such disorder visible with people or society where everything is measured with kind of electronic gadgets you have, which branded dress you wear, where you have your weekend dinner or which automobile you have (whether it is car or bike). This is nothing but showing your status to others that YOU TOO CAN AFFORD SUCH COSTLY THINGS đŸ™‚

How to control it?

Follow your older generations đŸ™‚ Yes that is the solution to this behavior. You might have noticed that our parents or grand parents never had anything personal items by taking loan. They simply accumulated the cash required for that particular item then they bought it. This process have two solution. One is, by giving enough time to buy the item you yourself start to think whether it is necessary or not. Second thing, you will not be in reeling under credit card or personal loans.

You noticed that such buying usually happens when you not use your conscious. So start using it for every rupee you spend. Apart from the above said technique, I have listed few which I feel will be helpful to come out of such disorder.

  • Always pay your bills with cash or debt card but not with Credit Cards or post dated cheques.
  • Before going for shopping list the things which you plan to buy and stick to it.
  • Retain one credit card which you can use for emergency. Cancel or destroy the rest of the cards.
  • Never heed or excite for discount sale or offer.
  • Don’t watch shopping TV Channels or not browse online shopping sites too often. Visit when necessary.
  • Use delay tactics before buying. For example if you see any item to choose and about to buy then wait for a hours or days. This makes you to think whether it is actually in need or not.

View this below video which explains more about such disorder.

12 Comments

  1. Hi Basu,

    very nice article. I know people who shop what they’ll never need. These second hand items selling sites too, I seriously doubt, may be even <1% of those listed on those get sold. But their ads are very convincing that any one can sell anything on their site in a moment for a great price. Personally I feel they are very misleading; may not be true. If possible, can you write one article about those sites? Thank you.

    Reply
    • Teja-Thanks for sharing your ideas. Sure I will dig more information and will come up with a post on it.

      Reply
  2. sir, the contact us info is not showing on the “contact us” page. Tried on different browsers. I need to contact you for financial planning services. Could you provide that info to my email id please?

    Reply
    • Sandy-I don’t know the error you are getting. But others are contacting me from there itself. Anyhow you can contact me by mailing at [email protected]

      Reply
  3. I have some mental dis-order of investing in overseas forex trading and like to lose money. indeed got bank rupt with fake forex online broker like iforex, ufx markets.
    rightnow i got notice from my saving bank of closure of my account due to overseas forex trading transcation but i would like to know will any proceedings will be from RBI? Kindly share ur contact no. to speak in brief

    Thanks,
    Janardhan

    Reply
    • Janardhan-If there was any proceedings then it might already happened. So bank is suggesting you to close the account then better to close it.

      Reply
  4. Perfect article……….and also your timing sir… you should also add about catering to needs and wants in life which many donot understand.

    Reply
    • Shridhar-Thanks đŸ™‚ Yes you are true, lot of people of actually today’s generation not know the difference between WANTS and NEEDS.

      Reply
  5. BTW, unable to view the video above, can you please share the link to it?

    Reply
    • Siva-Please refresh your browser, I hope you watch it. Because at my end it is perfect.

      Reply
  6. Excellent article came at the right time where everyone is just showing off with materialistic stuff!!

    Reply

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