Shopping addiction affects 5% of the population: a no-buy year could be a path to better wealth and wellbeing for some

Here is an interesting article from the BBC on  taking a year leave from compulsive shopping. Highlights below:

A review of published research suggests that shopping addiction, or compulsive buying, affects around 5% of the population. Experts believe the condition, which can affect people to varying degrees of seriousness, is on the rise and that better tools are needed for diagnosis to accurately quantify the problem.

Compulsive buyers experience a high when they shop, not unlike highs experienced by users of some drugs. “We get a hit of dopamine when we shop and we have momentary feelings of good,” says New York-based psychologist Jordana Jacobs, whose patients often deal with issues of self-esteem, sometimes manifesting through shopping.

Experts say the mental health benefits of doing a no-buy year are plentiful. “A lot of people use shopping as a distraction of misery, discomfort,” Jacobs says. “The impulse is to buy and when we do that, what’s really bothering us festers.” Yarrow, meanwhile, says that while you may save money, a no-buy year is more about “saving your psychology”.

The article makes it clear that not everyone needs to go on a spending freeze for a year, but the experience can dramatically change problematic behaviours. The key is for consumers to be honest with themselves about where they shop excessively and how they can best take back control.

Have you ever gone shopping as a way to distract you? I know I have!