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Compulsive buying is no joke!

While many people may not like to admit it there are hundreds and thousands of compulsive buyers across the UK who are causing significant damage to their credit ratings and financial situations. A report in the US found a number of interesting facts which include:-

While 5.8% of people in the US are compulsive buyers the mix is 6% women and 5.5% men

The vast majority of compulsive buyers earn less than $50,000 a year

Most compulsive buyers try to hide their addiction from friends and family

Compulsive buying does not make sufferers any happier and leads to a long-term increase in stress

Male sufferers tend to buy CDs, books, tools, gadgets and computer equipment

Female compulsive buyers tend to acquire clothes, make-up and jewellery

Psychologically, compulsive buying leads to significant remorse and shame and serious financial problems

There is no doubt that compulsive buying is an issue which the vast majority of people in the UK will come across at some stage in their lives. Whether we buy when we are down, buy when we are happy or are attracted to certain items or certain services, there are significant issues for many people to address. While it can be difficult to control, there is a need to take professional advice both for your finances and actions as soon as possible.

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