How To Stop Spending Money When You’re Addicted To Stuff

We often cope with life's problems by retail therapy, but this creates an addictive behavior.

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Many people have trouble with gaining control over their personal finances because they have been taught from an early age to cope with life's problems by buying things. Eventually this coping strategy becomes an addiction. In this video, I talk about the flawed coping strategy of spending money and how to break away from this addiction.

1. Start Viewing Spending Money As An Addiction

We often don't see consumerism and spending money on stuff as an addiction because it is normalized behavior in society. Many people have habits where they'll have packages come to their house every day or live with clutter, that we undermine that the behavior is actually addictive. In order to break away from this addictive behavior of spending money, you first need to recognize that it is addictive behavior.

2. Recognize The Harms of The Addiction

Like all addictions, there are many harms that come from spending money on stuff like financial hardships, being overwhelmed, and feeling insufficient. These harms are the side effects that you experience when you spend too much money on stuff and many of these take away some of the joy from life. In order to break away from this addictive behavior, you second need to recognize the harms.

3. Understand The Root Causes of The Addiction

We often cope with life's problems of stress, anxiety, and depression by spending money on stuff hoping that it will bring joy in life; however, this coping strategy intensifies these problems because of the harms that result from it. You cannot fix stress, anxiety, and depression by intensifying the emotions through spending money. In order to break away from this addictive behavior, you need to understand what is making you seek this coping strategy and see that it's intensifying the emotions.

4. Identify And Ditch The Capitalist Trap

Spending money on stuff to cope with life's problems is just a capitalist trap because it makes you think that the answer to life's problems are by spending money. This method, however, is fundamentally flawed because it only creates more problems in your life. In order to break away from this behavior, you need to identify that it is a capitalist trap and ditch this coping strategy.

5. Find A New Coping Mechanism

Many people have trouble to gain control over their finances and stop spending money and it is because for our entire lives we are taught to cope with our problems by spending money. Once you learn exactly why this coping strategy doesn't work, it becomes slightly easier to start searching for new coping strategies to deal with life's problems. Take 30 days to not buy anything unnecessary and reflect on how it changes your behavior. Once you complete this challenge, you can decide if it has made you life better or worse.

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[ElAgustin]

What's a way to cope with life without spending money?

[timothyswauger]

I tried the 30 day unnecessary spending detox and when it was over and I saw the effect it had on my bank account, I said to myself, let’s do it another 30 days, so I did and now I am on a 5 month run of living like this and it has become my normal way of life.

[jzayas]

Someone once said: "Spending money is a hobby itself" and it couldn't be more true.

[pattykake]

I stay home a lot ….gardening and enjoying time with my pets. When you don’t go out you save so much money…it works for me…👍🏽.

[sharonlugone]

I have broken myself of my shopping addiction over the last few months. First step is to write three things I'm grateful for every morning. Second is to stay out of stores except for legitimate needs, groceries, toilet paper, etc. Third is to stay home in general. Watch a movie, read a book, bake some cookies. Last is to take care of what you have, keep your home clean and organized so you're content with what you have. Another great video! ❤

[manofmorbihan]

1. Spending money is an addictive behavior that can lead to many harms.
2. Addiction intensifies the things that are causing problems in one's life.
3. There are no simple solutions to solve all of life's problems through shopping.
4. Social media addiction is a severe problem that many people overlook.
5. Coping strategies like retail therapy do not solve underlying problems.
6. Understanding that spending money is addictive is the first step towards gaining control over finances.
7. Breaking away from addiction requires looking elsewhere for solutions to problems.
8. A five-step guide can help people break away from addiction to stuff.
9. Envy and anxiety can lead to addiction and retail therapy.
10. The guide provides practical steps to help people gain control over their finances.

[PennyGarland]

People need to quit watching influences on social media. They receive a false example of life. Watch more people like you teaching how to live a balanced lufe.

[plappin]

For me, the best strategy seems to be committing to eliminating the impulse purchase. I can put something in my Amazon cart, but I don't press "Buy" for 24-48 hours. More than half the time the urgency has passed and I recognize I didn't need the item to begin with: I was merely "scratching an itch." Excellent video as always!

[tinanolan]

Seeing finances in such good shape is my addiction nowadays

[marcellemayer]

Reading books is a great way for me to cope without spending money. Also, cleaning and decluttering my home environment. I was recently listening to one of my favourite spiritual teachers and he said the mind will take you down any “rabbit hole” endlessly if you let it. That was thought provoking for me. I think your addiction analogy is helpful. Thank you.

[rencechannel]

I am lucky that I am Filipino and all of those splurges never happen to me in my entire life. I am very disciplined when it comes to my finances, I tracked every cent and break down my expenses into different categories as well as my income.

[bessieoriotis]

At 63 I have come to realize Less is More and to think do I Need it or do I want it. 🎉

[barbaratozzano]

Reading, taking a walk, working in the garden, looking at all the stuff I need to get rid of... I have also set savings goals for myself.

[peterdockrill]

My spending addiction came to light during covid lockdown. I saved more in those 2 years than the previous 10 combined.

[dustinrhodes]

"most of life is just suffering, " this is true.

[PickledHam]

Hello, my name is Daryl. I am addicted to spending money. Been tough but getting better. Its been 22 days since I've eaten out, bought on amazon or shopped at the mall. Having withdraws thinking about memorial day BBQ. Dont know how long I can make it.

[cindyhaferbecker]

Such a good video!! You know it's crazy when those big self storage buildings pop up all over lately... it's everyone's junk!! Purge it, and stop buying! Free yourself from the burden. Love you Austin!!

[robinborucki]

January 2023 is when i made the decision of nothing coming into the house but groceries or other important necessities. Shop only with a list otherwise don’t buy it! Any clutter I had went all to donations. Don’t miss nothing! I think a lot of people today really need to watch this video, it’s what they need to hear. Very well said 👌

[edithtirado]

I get a rush from opting not to buy stuff. I research DIYs and make my own cleaning products : dish soap, detergent, all purpose cleaners and more. Healthier for my household and the environment. Win win

[juliemarkham]

Okay...after viewing this video, I committed to a 30-day no buy, unless it's a necessity...starting today. 😊