Can you become addicted to money?
Like food addiction and eating disorders, money addiction comes in many different guises. There are those who hoard their cash, then there are others who can’t stop spending. The common theme of those who are addicted to money, is that cash has become their God, the dominant force in life.
Love and happiness take a backseat; a disordered relationship with money simply takes over.
Do you have an addiction to money? These are the signs:
- You are a high earner, but feel like you are underpaid because your colleague is earning more
- You measure everything in financial terms – including measuring a person’s worth by their wealth
- You are preoccupied with how much you’re earning or making, rather than thinking about your loved ones
- If your friends get a nicer house or car than you, you become obsessed with getting even
- You keep thinking, I’ll retire when I have enough – but you never have enough
- You can't change your behaviour, no matter how hard you try
Of course, wanting more and more money, like over-eating is one end of the addiction spectrum. At the other is the ‘spending addict’. They can’t manage money and may be a shopping addict.
Are you a spendaholic? These are the signs:
- A burning urge to spend
- You’re an impulse buyer
- You spend money when you’re feeling blue
- An intense desire to acquire items you don’t really need
- You show love by spending money
- You get a high when you make a purchase
- You have piles of items you don’t really want
Why money is so addictive
There’s no doubt that money is pretty important; without it we couldn’t eat, have shelter, clothe ourselves or do pretty much anything.
Lots of money can bring power and influence. No wonder many of us equate lots of money with happiness. Of course, this doesn’t always add up to be the case.
Research has shown that more money we earn, the more we need.
A dysfunctional relationship with money brings insecurities and anxieties – even though this may be masked by a fantastic lifestyle, or an enviable bank account.
Can money really be counted as an addiction?
Some will argue than an addiction to money is surely just greed. Likewise, a spendaholic, is simply an irresponsible spendthrift.
Money addiction is a behavioural addiction, like gambling, sex, porn and eating. It involved a change in brain chemistry.
The brain gets so used to the flood of dopamine when the addictive behaviour or substance is gained that more and more of the same is required to get the same effect. Cash – be it a nice fat bonus, hording it or using it to buy new designer shoes - gives that dopamine hit. Gradually, the money addict’s life becomes completely built around cash.
How can detox help money addiction?
A psychological detox of intense therapy with expert addiction counsellors can aid those in the grips of money addiction. At Serena House we can design a bespoke programme for those with a money addiction. This can include:
- Relational therapy
- EMDR therapy
- Mindful techniques
- 12 step programme
Feel free to phone our helpline on 020 3582 4288 and one of our counsellors will be happy to discuss what treatments are best for you.
Serena House is a private detox clinic in the heart of London that treats money addiction
Talk to one of our counsellors on 020 3582 4288.