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Whiting, Ind. -- Survey results released Thursday by CouponCabin.com found that more than one-in-10 Americans say their shopping habits have put them in debt, with 20% saying the most amount of shopping debt they've been in exceeds $5,000.
The survey, conducted by Harris Interactive, also revealed that 41% of U.S. adults have created shopping debt of more than $1,000. Eleven percent consider themselves to be shopaholics.
“We're bombarded with ads, daily deal emails and coupons every single day, so taking a step back and reflecting on your budget can be difficult,” said Jackie Warrick, senior savings adviser at CouponCabin.com. More than half (63%) of respondents think online shopping makes it easier to be a shopaholic.
Other survey findings include:
- Seven percent of U.S. adults said they have hurt relationships with family and friends by being addicted to shopping, while 20% have hidden purchases on purpose from close family or friends.
- Six percent said they have sought professional help (e.g. from a psychologist or other mental health professional) to help cut down on shopaholic tendencies.
- For some consumers, saving money can become its own obsession. 47% of survey respondents consider themselves to be "saveaholics" (addicted to saving money, an extreme couponer, bargain hunter).