Borrowing Money is an addiction!
Drug Addiction is defined as a chronic relapsing disorder characterized by COMPULSIVE AND REPETITIVE drug seeking and use despite adverse consequences. It is considered a brain disorder because the continued use of drugs, shabu, and nicotine brought functional changes to brain circuits that have something to do with individual stress regulation and self-control.
Borrowing money has the same psychodynamics. It is characterized by the person's continued use of seeking people who lend money despite the traumatic impact on their financial well-being.
Borrowing money leads to money disorders which are the maladaptive patterns of financial beliefs and behaviors that lead to clinically significant distress, and impairment in social or occupational functioning. Because of financial strain, the person afflicted will develop an inability to appropriately enjoy one's financial resources.
People who borrow money are often seen with compulsive spending and compulsive buying called ONIOMANIA which is aptly defined as spending far beyond what is necessary. They frequent Lazada and Shoppee and they found out later that what they bought is not really what they need.
Excessive borrowing is any amount of debt that you can't comfortably manage. There are several signs to look out for: borrowing to cover everyday expenses. One of the first signs that you may have a debt problem is if you need to borrow money to cover everyday expenses, like utility bills, food, or travel costs.
Other signs include selling what you have: appliances, clothes, jewelry, furniture, YOUR NAME, and REPUTATION. Other warning signs are lying, compulsive hiding, changing address, and the worst-case scenario - stealing.
Someone who is addicted to debt uses debt as a CRUTCH for solving their financial and personal problems without any plan for living differently or getting out of debt.
The last words (without any plan for living differently or getting out of debt) are warning signals. That meant the person does not have a plan to change his borrowing habits and will always rely on a third-party person PITY to settle the problem.
WHAT A PITY!
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