Do You Think That Money Can Buy Happiness? A Review of the Role of Mood, Materialism, Self, and Cognitions in Compulsive Buying

Purpose of Review: Although not recognized as a discrete psychiatric disorder, compulsive buying (CB) is a widespread psychological problem characterized by a preoccupation with shopping and impulses to purchase that are experienced as irresistible and chronic, leading to distress and significant impairment. Recent Findings: Social psychological frameworks for CB highlight the link between CB and materialistic value endorsement and individuals’ motives to compensate for a perceived deficiency in self-concept. Alternatively, cognitive frameworks for CB focus on the role of beliefs about possessions (e.g. perceiving goods as “essential” and “unique,” and buying opportunities as “occasions not to be missed”) in order to explain CB. Both models also strongly implicate the role of mood in CB phenomena. Summary: Strong links have been found between materialism, mood, and CB. The relevance of self and cognitions to CB has also been supported, albeit fewer studies have examined such links.