Shopping your blues away rarely solves the challenges of a bad day. “Retail therapy,” a term first coined by the Chicago Tribune in the 1980s, describes the temporary joy some feel when shopping to ease stress or worries.
Yahoo Finance and GoBankingRates.com talked to Beyond Finance Chief Financial Wellness Advisor Dr. Erika Rasure, who cautions against this habit, stating that it will “destroy your finances.”
The story highlights that while many consumers are cutting back on daily spending, reports of loan and credit card delinquencies are rising at an alarming rate. Dr. Erika explains that “retail therapy” is a misnomer because it offers no real healing or catharsis.
“It’s an escape from your troubles, and if you’re not financially practicing good skills, retail therapy does nothing but create more troubles.”
For consumers already facing financial instability, retail therapy—however momentarily soothing—only risks worsening their debt and financial troubles.
As one of the nation’s largest debt consolidation organizations, Beyond Finance is dedicated to empowering consumers with a smarter path to financial freedom. Through tailored solutions, Beyond Finance helps clients reduce monthly payments, minimize interest impact, and achieve a debt-free life—using proprietary tools designed for transparency and ease-of-use.o tackle anxiety related to money, strategies for saving toward your goals and more,” she said.
About Beyond Finance, LLC
Beyond Finance, LLC, is one of the nation’s largest debt consolidation companies. In its commitment to providing clients with a personalized approach to move beyond debt, Beyond Finance provides simple and transparent solutions that help consumers lower their monthly payments, reduce the impact of interest, and reach a debt-free life sooner. Beyond Finance holds an A+ rating with the Better Business Bureau and was awarded with 3 ConsumerAffairs’ inaugural “Buyer’s Choice Awards” in 2024 for Best Customer Service, Experience with Staff, and Transparency within its category. Beyond Finance has offices in Chicago, Atlanta, San Diego, and Houston. For more information, visit BeyondFinance.com.