Bingeing, Purging, Obesity, Anorexia, Bulimia …Do You Have A Money Disorder?

Are you suffering from one?

Have you been affected by someone you love having one?

Do you know someone who has one?

Money disorders are just like eating disorders but sadly, talking about dysfunction around money is just not done. 

This is the last great taboo.

The impact of money disorders is often devastating with far reaching consequences, not just for the person but for all those they interact with. Guilt, self loathing, compulsion, depression and vicious cycles of hope to despair, connection to isolation. These are just the emotional costs before we even consider the financial impact of spiraling debt, financial destitution, bankruptcy and the inability to ever be financially independent. More marriages end due to money issues than any other reason, money problems is at the root of 95% of peoples stress and suicide often has a money issue as a contributing factor.

Discover if this might be an issue for you. Answer the following questions for yourself….

Are you a Money Bulimic?

• Do you go on binge spending sprees, burning through money you either don’t have or that was meant for something else with no thought to the consequence?
• Do you emerge from the binge spending feeling terrible about the damage to your finances, beating yourself up and feel guilty about it?
• Do you sometimes hide or lie about how much money you have spent on something?
• Do you try and return the goods, sometimes damaging them or telling elaborate stories to get the retailer to accept the returns?
• Do you try and compensate from the binge by trying to sell the stuff you bought or by giving it away?

Do you have Money Obesity?

• Do you go shopping to ease anxiety or depression?
• Are you addicted to spending? Racking up layers of debt you have no idea how to pay-off.
• Is your debt level showing signs of serious obesity? Growing every day, week, month.
• Just like a sugar addiction, the brief rush of energy and fun created by the spending spree wears off quickly and you have to go do it again.
• Do you jump from one “get-rich-quick” scheme to another – like a fad dieter – hoping that this next one will be the miracle “silver bullet” that will sort it all out only to discover you are even more in debt?
• Do you sometimes manage to clear your debt and maybe even get a bit of money saved or invested to somehow find yourself right back where you started or worse, even more in debt?

Perhaps you suffer from Money Anorexia?

•  This is a desperate state because it is starvation of the soul.
• Do you stop yourself and those around you from enjoying the money in your life?
• Do you feel conflicted about money – guilty about having it but terrified of not having it?
• Do you deprive yourself consciously from spending money on fun things, or on yourself even though you can?
• Is proving you have control over money by spending and living on as little money as possible important to you?
• Are you worried that if you let yourself be a bit freer with money you would open a flood gate you could never close again and so lose everything?

 If any of the above rings true for you or if your life and wealth has been affected by someone who has a money disorder, a key step to financial freedom is to shine a light on that and acknowledge it.

So what is at the root of these disorders? The cause is often based in fear, uncertainty, feeling out of control or powerless, scarcity and lack. The behavior is driven by misguided beliefs about money and wealth which are compounded by our consumer- and status-obsessed culture. We’re bombarded by images telling us “we are because we have” or convincing us we need to have whatever the next best thing is to feel good about ourselves.

You can attend all the investment courses and trading seminars you can get your hands on; you can upgrade your skills, get more qualifications and increase your income as much as you can, but none of these will take you closer to financial freedom if you don’t deal with your underlying beliefs and the way they manifest in your behavior with money.

You can heal any money disorder by developing a strong and healthy relationship with money; establishing empowering beliefs about money and wealth; gaining a solid understanding of how money actually works, and learning the skills to grow it so it can play the role money is meant to play in your life.