SYMPTOMS of OVERSPENDING

LIST OF SYMPTOMS OF OVERSPENDING

(From the book:  Confessions of an Overspender, by Dr. Ben Carlsen 

If you have some of these, you may have a problem:

--You run out of money before the month ends

--You don’t have a household or personal budget

--You have little savings or investments

--You carry credit card balances month-to-month

--You have high interest rate or sub-prime credit cards

--You carry more than three credit cards

--You don’t have a “cash reserve” for emergencies

--You live in fear of an unexpected expense

--You’re behind in your taxes

--You aren’t able to save at least 10% of your income

--You don’t contribute enough to your 401k to receive your   employer’s “match”

--You have lots of stuff you seldom or never use

--You pay late charges or overdraft fees

--Your utility bills are sky high

--Your car isn’t paid for

--You drive an over-size gas-guzzling vehicle

--You can’t afford to make necessary home repairs

--You have lots of gadgets and the latest products

--You have a mortgage that’s bigger than you can afford

--You use your home equity as a “piggy bank” by refinancing and borrowing.

--You’re a sucker for advertising and marketing

--You’re a status seeker

--You’re afraid to quit a job that you hate because you can’t afford to

--You constantly worry about bills and creditors

--You borrow from friends, payday lenders, pawn shops, or others

--You’re in arrears, default, penalty, foreclosure, litigation, on your debt(s)

--You skip buying necessities like medicine or insurance because of the cost

--Your closet looks like a branch of Macy’s

--Your home looks like a Thrift Shop

--You have an unnecessarily large (or expensive) home or apartment

--You eat out frequently, and/or you patronize expensive restaurants

--You buy pricey items, and don’t shop for bargains

--You’re overly brand or label conscious

--You believe “you get what you pay for”

--Shopping is your “hobby”

--You have trouble leaving a store without buying something

--You feel guilty or remorseful about several or many of your purchases

--You’re a shopaholic, an alcoholic or drug addict

--You can’t pass up a sale or “bargain”

--You try to “buy” friends, companions or lovers

--You visit prostitutes or subscribe to porn sites

--Your FICO score is below 750

--You can’t afford to send your kids to college

--You can’t afford to take a vacation

--You can’t retire

It’s incredible, but this is only a partial list.  It would be impossible to list all of the reasons, emotional, psychological, behavioral and physical, symptomatic of overspending and problematic personal finances.  Of course just because you have one or two of these issues doesn’t mean you are an addictive overspender.  But if you see several items that apply to you it’s probably time to take notice, acknowledge that you may have a problem, and resolve to take corrective action.