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03/01/2012

The ''gotta have it now'' consumer syndrome is alive and well and anyone who falls into this category is constantly fighting off consumer debt. Financial advisor Errol Woodbury puts spenders into four categories. Understanding which you are might help you to stop.

Compulsive spenders are ones that spend as an escape from depression or have an unmet need.

Impulsive spenders see something on special and can't walk past it without having to have it. Buying a $200 jumper at 50 per cent off is seen as saving $100 rather than spending $100.

Revenge spenders can be found in the local clubs and casinos playing the pokies. They think they owe it to themselves.

Boredom spenders are ones that can think of nothing better to do than spend, spend, spend.

Source: The Age



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