Jim Anderson

What We Can Learn From The Movie Confessions of a Shopaholic



Posted: Sunday, September 27, 2009

by
Weddings That Last

Art reflects what is really going on in society. This is one movie that is no exception. It was filmed before the economic crisis started, but was certainly reflecting a growing problem today. As more and more people are convinced that credit cards are necessary to function in today's society, more people are experiencing problems with debt. Rebecca Bloomwood, the clothing-crazy heroine in the movie, is an example of how many people have no idea how much they are spending when they use their credit cards. They often figure that if they have enough room on the card to make another purchase, they can afford it.

First we have the fact that, according to Dunn & Bradstreet and the ABA, consumers spend 12% to 18% more when they use credit cards instead of cash. Research studies on this topic have shown that there is a psychological difference in paying with cash versus paying with plastic. When you use a credit card it registers more like play money and when you pay with cash it registers more like pain. So as people are using credit cards they are feeling like they are simply playing a game of monopoly, it isn't really spending money. This is contributing to an increased tolerance for debt in this country as a whole.

However, in this movie about being addicted to shopping, we see a connection. Research has shown that shopaholics do it to boost their self esteem. Yet the rest of us are driven to shop simply because of our materialism. According to Live Science, over-shopping is on the rise. Our culture is reinforcing it and the pressure to use credit cards is making it easier. So in today's world, shopping is actually encouraged by peer pressure all the way up to the President of the United States telling us to go shopping after 9/11.

This problem is an addiction for shopaholics, but an important question to ask is if normal behavior in spending is reaching the level of addiction as well on a much larger scale. Have we become addicted to shopping as a society? We are increasingly spending beyond our means. We all have this need to keep up our image, and in the U.S. that drives us to compete with our peers. If we don't, we feel outcast and are considered of less value to the community.

The American Journal of Psychiatry published in 2006 that 6 percent of the U.S. population fits the compulsive buying profile. Other research has shown up to 12 percent fit the profile. These are people that are in serious need of help. About one out of every ten to twenty people are considered sick with this addiction. That is significant, especially since there varying degrees of this behavior, most of which don't qualify as sick. Researchers have found that this behavior is a growing phenomenon.

Going out and buying stuff makes us all feel better about ourselves for a little while, so as it becomes easier to buy with credit cards we are more likely to engage in this behavior. We have become such a materialistic society; the problem will continue to grow. We applaud Rebecca in this movie and laugh at her behavior. We don't see it as such a bad problem. We even think it is ultimately a good thing because consumption fuels our economy. We need people to continue spending. So we are making the problem worse with our justifications, and even encouragements of overspending. We even had the Vice President of the United States, Joe Biden, state that the solution to our economic crisis was to go deeper into debt. That is like saying when you can't make your house payments, take out a home equity loan to get the cash to make the payments and you'll solve your problem. What he fails to recognize is that borrowing more money to solve a borrowing problem is financial suicide. Even if you do recover in time, the payments on the other side are oppressive.

This movie reinforces my resolve that the real solution to our nation's financial problems, and each and every individual that makes up this nation, is to live within our means and get out of debt permanently. We can do it as people and lead this nation to greater stability and strength by getting out of debt as individuals.

For further discussion about this movie in my articles Confessions of a Shopaholic parts 1 & 2 go to my website.

Jim is a personal financial authority and author, an ordained minister, and an independent music artist. He has a Bachelor of Business in Finance, and a Masters of Religious Studies, graduating with honors. Jim has built multiple businesses since 1990. He now owns a financial services business and does premarital counseling and customized wedding ceremonies. For more information see his website www.weddingsthatlast.com

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Top-level comments on this article: (1 total)
» left by Marijo Phelps
 2 years 115 days ago.
139 fans.
I totally hear the get out of debt permanently and live within our means.... after 24 years of marriage we are finally debt free (including the house and older vehicles) it is a great feeling but took planning, downsizing and well, plain hard work to get there. Marijo
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» left by Jim Anderson 2 years 115 days ago.
23 fans. Follow Jim Anderson on twitter!
That is great that you are completely debt free, you are in a minority. Thanks for your comment.
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