Impulse Spending
As a financial counselor, should you be surprised if a male client states that he has a compulsive shopping problem; why or why not?
I would not be surprised if a male client stated that he had a compulsive shopping problem. This is because the preconceived notion that women constitute 90% of the shopaholics has been proven false by a new research. 2513 adults were interviewed nationwide in the U.S. And it was found that 5.5% males had a compulsive shopping problem and 6% of women had this problem. These statistics were very similar so it would be safe to assume that men suffer from these problems as well. This study was conducted by Dr. Koran of Stanford University School of Medicine to underlying the growing problems of compulsive shopping problems not just...
And that the statistics were not the same but they had shot up.
b. Name three behaviors or characteristics that a shopaholic is more likely to display (have) than a non-shopaholic.
Shopaholics often have an uncontrollable need to buy products and goods frequently whether they require them or not, and they hoard them. Everyone faces the need to spend impulsively, but to shopaholics this occurs extremely frequently and not just once in a while.
They also usually exceed the maximum limit of their cards, or are up to their eyeballs in debt. So they are also more likely to suffer from more financial problems than a normal person who can control his or her budget.
Shopaholics also tend to lie about their purchases to their…
