Bankruptcy And Starting Over

Hi, it’s Sophie!

This post will be the conclusion to my story of shopping addiction.

In my last post, I told you how I realized the gravity of my situation when my electricity was shut off because I couldn’t pay my bills.

I had a good job, but the entirety of my annual salary wouldn’t be enough to make even a dent in what I owed.

I was desperate and out of options. I had to declare bankruptcy.

This means that I was no longer held responsible for any debts I owed, but that the bank could take anything it wanted from me to help pay off my debts. I lost my first house. I lost my fancy car. They took loads of my clothes, jewelry, and other stuff from the home to sell to pay off my debts.

I had literally nothing: no home, no transportation, and just a few changes of clothes for work.

My friends had all been saving for years, living in dingy apartments and paying off their student loans. Now while they all got to move into fancy houses and buy new cars, without even using a credit card, I had to move back in with my parents and start my savings from scratch.

It was embarrassing to tell my family what had happened. They knew I liked shopping, but they didn’t realize how bad it was. They had no idea the hole I’d dug myself into with my shopping addiction.

Shopping addiction is a real addiction, as serious as alcoholism or drug addiction. I ruined my life with my compulsive spending, and I am getting treatment for it now. I am learning the reasons why I spent the way I did, and how to have a healthier relationship with money. I don’t need things or to spend money. I don’t have to make me happy. I am happy now to have money in my bank account, and to be able to pay cash for any purchases I make.

I will never put myself in that situation ever again. I won’t have a credit card again for a very long time, if ever. I don’t want the temptation in my life. I won’t ignore financial problems, fantasizing that they will resolve themselves. I am learning how to deal with negative feelings and the urge to spend money productively.

If you or someone you know is struggling with a shopping addiction, please get help right away. Don’t wait until your financial situation is dire the way I did. Take action now to get on top of your finances and your mental health.

Here is an article about shopping addiction.



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