The UK has a growing epidemic of ‘retail addicts’, these people usually in their early twenties to their late thirties who enjoy spending money anywhere, anytime and anyplace. The easy obtained loans and credit cards on offer are fuelling this new addiction as some lose everything in an attempt to feel fulfilled but are always left feeling empty, the symptoms of a state of mind and a pursuit of the unobtainable leave these peoples lives in a financial mess.

The vast majority of these retail addicts will have store cards, numerous credit cards and loans as well as little or no equity as their home has been mortgaged to the hilt.
Again most will have unsecured debt ranging from £15000 - £50000 with no real way of paying it all of in a reasonable amount of time or without seriously curtailing their spending patterns. UK credit card debt at the end of December 2004 was estimated to be in excess of £50 billion.

Retail addicts will tell you that they feel under the weather but miraculously feel better after a fix of retail therapy, the rush and adrenalin of a purchase is what they crave and the feel good factor of a new designer pair of jeans or other item of clothing. These people are making there buying decisions based on the emotion that they are feeling at that time and the only consideration that they should have on their mind is the question of affordability.

There are usually deep-rooted reasons for the retail addicts among us that drive us. This is proved by the fact that retail addicts come from many and varied backgrounds but all have similar circumstance that dictates they have a low self-esteem and look to improve this by providing themselves with luxury items in order to feel more appealing. These people however do come with some extreme stories of hardship, loss and trauma.

Credit has never been easier to get a hold of and more and more potential victims are being exposed by easy to apply for credit cards and loans. With banks making credit more affordable via 0% balance transfer deal consumers are racking up huge debts. But please be careful of becoming a retail addict.