Alpha Consumer

A Bad Time for Shopaholics?

By Kimberly Palmer

Posted: October 31, 2008

If you were about to release a movie on shopping addiction, would you decide that now—as consumer spending plummets and the economy grinds to a slow crawl—was a bad time?

Advertising Age asked that very question, since "Confessions of a Shopaholic," starring Isla Fisher, is scheduled to hit theaters early next year. The movie, which is based on a book by Sophie Kinsella, revolves around a woman—who happens to be a personal finance reporter—who goes into debt buying the latest fashions. Just over 70 percent of respondents in Advertising Age's online poll said they would go ahead with the project, while the rest said they would hold off.

Meanwhile, if you're wondering whether you'll relate to the main character or feel sorry for her, compare yourself to the checklist of behaviors at Shopaholics Anonymous. Warning signs include when your shopping habits create chaos in your life, lead to conflicts between you and people you care about, and generate feelings of euphoria mixed with anxiety.

For one more take on the subject, check out this personal essay by Steph Auteri at Tango Magazine. She writes about how her love of shopping came between her and her husband and how her marriage eventually helped her get control of her finances. It's a great reminder that debt doesn't need to be a permanent condition.

Facts belie the theory

Common sense would dictate that shopping should be curtailed in economic downturns.

But shopaholics are so diagnosed because they do not exercise common sense at any time.

They are compelled to spend, baby, spend regardless of their economic ability to do so rationally.

They accumulate debt beyond their ability to pay in good times, bad times and all other times.

They are merchants best friends and worst enemies.

They move merchandise, but lack the ability to pay for it.

In one way or another, they become a burden on all of us.

And when they control the purse strings of the entire country, we all live under the heavy cloud of debt that will be depressing for our children, their children and for generations.

HillbillyBill of TN @ Nov 01, 2008 07:19:07 AM

Facts belie the theory

Common sense would dictate that shopping should be curtailed in economic downturns.

But shopaholics are so diagnosed because they do not exercise common sense at any time.

They are compelled to spend, baby, spend regardless of their economic ability to do so rationally.

They accumulate debt beyond their ability to pay in good times, bad times and all other times.

They are merchants best friends and worst enemies.

They move merchandise, but lack the ability to pay for it.

In one way or another, they become a burden on all of us.

And when they control the purse strings of the entire country, we all live under the heavy cloud of debt that will be depressing for our children, their children and for generations.

HillbillyBill of TN @ Nov 01, 2008 07:19:06 AM

Getting a little addicted to making money is better for you than getting addicted to spending it. Too much of either is bad, though. Go ahead with the movie. We need to see what has happened to some of us.

of @ Oct 31, 2008 12:09:57 PM

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Alpha Consumer

Alpha Consumer

Kimberly Palmer, senior editor for U.S. News & World Report, writes about how to save money, avoid scams, manage debt, and be a savvy shopper. Send your personal finance questions to her for expert money advice.


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