Men Love Shopping Too
Men are too struck with poor money management and by compulsive buying disorder.
No wonder why the marketers are increasingly targeting men in their advertising campaigns. It turns that men love shopping and enjoy it as much as women do. The compulsive buying disorder is a prevalent condition and one must be watchful on money management when going about shopping.
The latest stud, published in the October issue of American Journal of Psychiatry, shows that of the 2,513 adults surveyed, 6% of women and 5.5% of men are said to be compulsive buyers.
"Compulsive buying leads to serious psychological, financial and family problems including depression, overwhelming debt and the breakup of relationships," says senior author Lorrin Koran, MD, emeritus professor of psychiatry and behavioral sciences.
Psychologists say men are shopaholics too and that men and women overspend equally.
Compulsive buyers are younger and more likely to have reported incomes under $50,000. More of their credit cards were within a few hundred dollars of the credit limit, and compulsive buyers were more than four times as likely as other respondents to make only the minimum payment on credit card balances.
This surely can cause a broad financial disturbance on a family and personal level.
Binge buying and subsequent financial hardship mark the condition of compulsive buying disorder.
"People who have compulsive buying disorder - sometimes called compulsive shopping disorder - are often struck with an irresistible, intrusive and often senseless impulse to buy. It is common for sufferers to go on frequent shopping binges and to accumulate large quantities of unnecessary, unwanted items. Sufferers often rack up thousands of dollars in debt and lie to their loved ones about their purchases. The consequences can be bankruptcy, divorce, embezzlement and even suicide attempts." (Stanford University Medical Center)
Further studies will determine if compulsive shopping is only a financial problem or also linked to mental disorders. More funding is needed to conduct further studies in behavioral addictions.
This page is updated on May 10, 2013.