Last week we looked at the phenomenon of ‘Crazy Consumption’ where clueless consumers are overcome with the desire to shop uncontrollably even when they can’t afford it. This out-of-control spending habit devastates the financial vitality of its victims by dumping them in massive debt and rendering them unable to realize their money goals.

We opened up the floor to our readers to get real-life stories from people who are suffering from this dreaded spending disease and are desperate for solutions to get their lives back on track. Our first case is of Marcia* who suffers from a clinical case of Crazy Consumption.

Marcia’s Story:

I’m a forty-something year old professional with a great job and fabulous friends. On paper I may look upwardly mobile and progressive, but the truth is that my financial situation is in shambles. Although I earn a good salary, I have no savings because I have absolutely no control over how I spend my money. For me, shopping is a way to escape reality, as when I shop, I don’t have to think about the personal issues that torment me. My greatest times of weakness are when I am alone with nothing to occupy my time. Then I surf the internet and go crazy buying things online.

I work with an international agency which requires me to travel frequently. On these overseas trips I indulge in binge spending, sometimes without reason. Last time I was away, I went into an expensive department store to buy one gift and walked out with over US$400 worth of perfume for myself. I don’t even like to wear perfume because it affects my allergies. I just don’t know what came over me. Most people might overspend at Christmas, but for me, Christmas is year-round! Continue reading Crazy Consumption Case # 1- Shopaholics Anonymous →