What Is an Online Shopaholic?
Such a person is essentially someone who has an addiction to shopping using any digital device to make purchases. Shopping addicts find spending to be second nature, which can lead to serious consequences:
● Getting into debts
● Losing your job
● Losing your friends and the trust of loved ones
● Feeling empty and unsatisfied with life
● Finding hazardous ways to gain instant cash (e.g gambling)
Often, people take seemingly harmless activities such as spending light-heartedly. But when things add up, it can bring a host of problems that you never imagined it could. Could this vicious cycle be broken? Absolutely!
Coping With Shopping Addiction
Research shows that most compulsive shoppers are willing to change their excessive shopping spending habits to improve their finances and relationships2. Some of the simple solutions you can apply today are as follow:
● Find your second most favorite pastime to replace shopping. It can be recreating a trending recipe you saw online.
● Get rid of additional credit cards and keep only a small portion of emergency cash. That way, you can avoid buying on impulse.
● Read life stories of former shopping addicts for guidance and motivation to break free.
● Seek counseling to uncover the underlying cause of your bad spending habits.
The Philippines Leads Southeast Asia's Online Shopping Statistics
According to the iPrice Group, online marketplaces are thriving during the coronavirus outbreak. Among Southeast Asian countries, the Philippines has experienced the highest increase, that is 53 percent in the usage of shopping apps after comparing the first and second quarter of 20201.
When it comes to curbing bad spending habits, one of the easiest ways is to replace it with a new mindset of spending. For example, have you ever shopped for your protection? Check out Liv to give you an idea of how much you need to be protected and live life with greater control of your health and financial security.
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