The 7 Part Cure For Spendoholics and Spending Addictions
Today I’m sharing the 7 Part Cure For Spendoholics and Shopping Addicts!
I used to overspend and got into a lot of debt in educational courses.
I got into over $40,000 of debt, and had a Negative Net Worth of over $30,000.
I finally paid off all my debt in April of 2016, was making almost $500/month in passive income for my family and quit my job.
I started coaching clients to do what I did which was not just pay off debt, but create Time and Financial Freedom!!!!!!!
#1 Don’t Judge Yourself – You Are a Valuable and Perfect Human Being
It was hard to face myself knowing that I had caused so much financial chaos in my life.
However, I learned to love myself just as I was, regardless of debt or anything else going on in my life.
I said affirmations like “I am happy” and did things that made me happy – like exercise and meeting new friends.
#2 Journal Everyday What You Spend And How You Feel When You Spend
Take some time and get to know yourself better.
What did you spend your money on today?
How did you feel when you spent the money?
Did you need or use what you bought?
How do you feel about that?
Really take the time to understand yourself.
#3 Get a Supportive Friend to Help You Analyze Your Spending and Figure Out What Is Causing It And Cure The Root Cause
Get a friend who loves you for who you are to help you figure out what all that spending behavior and your feelings mean.
Do you spend because you don’t feel happy?
Do you spend because you feel like you aren’t enough?
Do you spend when you are angry?
What are your reasons.
Figure out the cause and you can cure it with affirmations (“I am enough” or “I am happy.”) or actions (learning a new hobby, working out, eating healthy).
#4 Set and Write Down New Goals (Positive Goals – like saving for retirement, or your child’s college, or improving your Net Worth)
Now you can create and write down new goals.
Keep them positive. Getting out of debt is a negative goal. A positive goal would be to grow your Networth (which includes your assets and your liabilities).
I had a goal of having a positive Networth by the end of July 2012 (which I got!!!).
Maybe you have a goal to use only cash (I do this now).
Or maybe you want to fund your retirement account (I just started doing this again at the end of last year!).
Or maybe you want to fund your child’s college education (I just started doing this at the end of 2019).
Pick a goal and go for it!
#5 Replace Shopping With Healthy Activities – Exercise, Meditation, Sleeping
Feel like shopping?
Replace it with something more positive like exercise, meditation or getting enough sleep.
You can cook yourself healthy meals and eat at home.
Take up surfing or biking or run a marathon or a 5K.
Find something you would love to do that is good for you and do that instead!
#6 Remove Shopping Temptation By Unsubscribing to E-mails, Mailers and Avoiding Shopping Malls and Stores
Stop going to places where you shop.
Unsubscribe to store email lists.
Get off of mailer lists as well.
#7 Reward Yourself For Achieving Your Goals
When you get your goal celebrate!
Have dinner with your friends!
Take the day off and go swimming at the beach or go on a hike!
Have fun and celebrate your success!
Conclusion
I was a shopaholic, a spendaholic and a shopping addict.
I bought educational courses that I never used.
For me meditation and just being happy was the real cure.
I only use cash now as well.
Just the other day an investor was offering a deal on his newsletter to get in on an investment in Gold.
I meditated on it and knew that it wasn’t for me.
I am so grateful that now I spend my money in a way that makes me wealthier, happier and richer.
And that I have money to invest and grow passive income.
If you need a hand, a supportive friend to help you on your financial freedom journey, then let me know!
Subscribe to my e-mail list on the right side of this page and get the free e-book working parents guide to financial freedom sent directly to your inbox.
Reply back to any of my e-mails and let me know who you are and what your goals are.
I’m here to help you!
Good luck to you!
You got this!