The Scary Connection Between the Rise of Online Shopping and Credit Card Debt

The Scary Connection Between the Rise of Online Shopping and Credit Card Debt

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With the rise in one-click ordering on various sites, like Amazon and eBay, more and more Americans have found themselves lured into an online purchase.

If you have not heard of one-click shopping, it is the term for the service where your credit card and shipping information is stored on an account page so that you can order something to your front door without having to fill anything out.

One-click purchasing is making it a lot easier to shop online, but that means it is also a lot easier to incur debt. An unfortunate fact of the ease and impulsivity of the online world is that credit card debt can rack up without you seeing the consequences until much later.

If you fear that you may have fallen into this pattern, then read on to learn more.

How Credit Card Debt Builds

Consumer debt does not build overnight. It comes from a habit of shopping beyond your means. Make sure you are not buying items just because it is easy online. Before putting anything in your virtual cart, be sure you evaluate if you need it.

One way to avoid purchasing things you do not need is to not browse in the first place. Virtual window shopping can be dangerous. You will often run into deals and sales at your favorite stores that can make you feel like you are missing out if you do not get anything.

Instead of using credit to get a great deal, save up a fund for moments like that and buy your items with cash.

Other Dangers of Online Shopping

Online shopping also creates opportunities for your credit card information and identity to be stolen online. Any time you enter your personal information into a form on a website, you are putting yourself at risk.

Make sure that you check to see that the website you are browsing is secure before entering anything. You can do this by looking at the URL on your browser and seeing that it says, “https://.” If the ‘s’ is missing, stay away from the site.

On a separate note, credit card spending and overdue bills have also proven to increase the cases of depression in individuals. Depression affects a variety of people in debt and the more short-term debt that has been incurred, the more frequent the symptoms of depression.

The Death of a Budget

Online shopping has a way of warping a consumer’s sense of spending. When you are buying on credit and not putting items in a physical cart, it is easy to forget that the bill is coming later and will have to be paid. It makes it harder to stay within a budget.

Do not get caught up in a cycle of finance charges and financial hardship. Instead, before adding items to your cart, think of how nice it will feel to know you are debt free and buy yourself things after you’ve earned them. Developing a spending budget is one way to ensure you are living within your means.

In Over Your Head?

No matter how cautious you try to be, sometimes consumer debt can get out of control. You don’t want to make hasty decisions that will impact the quality of your life. Reach out to a professional that can devise a debt management plan that best suits your current financial situation.

If you are facing difficulties making your payments, contact us about settlement assistance today. We will take you through the debt relief process and help you every step of the way.

The Effective Legal Debt Solutions team is comprised of caring, seasoned professionals with years of industry knowledge coupled with personal real-life experience of dealing with debt settlement situations that many of our clients are facing today.