Photo: Flickr / Phillip Stearns
If you’re among the 31 per cent of Americans who feel guilty for overspending, there’s a 12-step program that just might be the key to curbing your bad money habits.
A slew of childhood issues, including watching her mother’s bad spending habits (like dodging the stress of paying bills) eventually led her into a downward spiral of debt as an adult.
But through support from D.A., a 12-step program modelled after Alcoholics Anonymous, she found help keeping track all of the money she spent and created a long-term spending plan.
Like any had habit, the first step to recovery is to recognise and admit you have a problem, he says. The second is to seek help.
Through weekly meetings, the D.A. gets overspenders back on track with both money management and emotional support. As James Dion, an industrial psychologist, told DailyFinance, the program forces people to become accountable for their spending.
According to D.A., these are a few symptoms of compulsive spenders: inability to pass up a good deal, impulse shopping, leaving price tags on clothes to return them, and not using items you’ve purchased.
To find support groups in your area, visit the Find a D.A. meeting search tool on their site.