I was reading an excerpt from this book: Living Well on Practically Nothing
where the author suggested that credit card debt is an addiction.
What do you think?

didn't read the article but I think debt is a symptom of larger issues, which could be depression, marital issues, etc. and addiction is certainly one of them.

allgirls

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allgirls, mom to 3 girls

I believe it is. I know that I cannot go into stores without going to the clearance sales and bringing home great deals that I didn't need, so now I don't go. I had to stop all my emails from retailers because I know I couldn't read them without online shopping, again to get great deals. It is even a struggle for me to not open the threads on this board boasting of great deals, but I no longer do. It's not that I don't feel the urge to do things things because I do and it's really, really hard, but I am an addict of sorts and fortunately have been able to recover from it. I have not used my credit card in months and am pretty proud of that.

Yes I think so, My dh was real bad with it He had to give me his credit cards and one he had the number memorised and we closed that one. He had around 20 when we met. Now he has only one and is doing ok with it.

I don't know that debt is an addiction but more the result of an addiction.

If you are addicted to shopping, or something then that can put you in debt. But I don't think that people are getting in debt just to see them selves in debt. Does that make sense.

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Proud mommy to adorable Kinsley

MY BLOG!

Depends on the situation. Some debt is the result of a medical emergency/disease/illness. In my case when dh went back to college we had to charge groceries and gas most months.
For my sil it was just her impulsive nature. Some people know they are going to bankrupt and purposely charge up credit cards like she did.
Some people shop/create debt because they are depressed.
I don't think its an addiction for people who just want to keep up with the Joneses.
Sometimes if you say something is in an addiction it's a copout for someone who just needs to learn the words "I don't need to buy this".

I see credit card debt as being more of a trap for most people... say you are already thousands of dollars in debt, so you think: "What's one more thing on the card? Not buying this $35 gizmo isn't going to erase the debt I already have, so why not?"

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I don't believe in miracles; I depend on them

I think there are just too many reasons for people to have debt to kinda write it off as an 'addiction'. I also don't like to see all these syndromes or addictions attached to everything - how about self reliance? Responsibility?

I think more than an "addiction" I would describe it as a downward spiral. Once you get sucked into the cycle of using credit cards, it's easy to perpetuate the habit and have the problem spiral out of control.

Yes, this is true. I've also done some research on addictions and some of the other symptoms that shopping or credit card debt are an addiction include...

* thinking / dreaming / fantasizing about shopping often in a day
* increased heart rate in or near shopping areas (seriously)
* a feeling of excitement or anticipation while shopping
* a negative effect on family life (putting shopping / spending before family)
* justification (ie I deserve this. My kids need this. I will be happy after this.)
* hiding (hiding purchases from family, take the tags off, ripping up receipts, hiding credit card statements, lying "This new? No, I've had this for ages.")

Not all debt is addiction. Some people have serious medical bills, family crisis, or unemployment that can cause serious debt without the addiction. Addiction is a serious thing and it's really hard to break on your own. The biggest help in stopping it is to confess to your spouse and / or your family / or close friends. Often this is enough that the rush of addiction turns into shame, and the shame causes us to want to change.

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