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Bipolar Spending Sprees

Spending Sprees in Bipolar Disorder

By Jane Collingwood
~ 3 min read 

 People with bipolar disorderexperience severe mood swings which can last several weeks or months. These include feelings of intense depression and despair, manic feelings of extreme happiness, and mixed moods such as depression with restlessness and overactivity.

The disorder can also lead to impulsive spending sprees, usually during manic episodes. These can extend to cars, holidays and computers, costing thousands of dollars, as irrational decision-making takes hold. It may be wild “self-medicating” shopping sprees, unwise investments, extravagant gifts to family, friends or charity, or spending a fortune on gambling.

People with mental health problems are already more likely to be debt-ridden than the general population, and the number is even higher among those with bipolar disorder. Financial troubles can lead to problems such as stress, anxiety, depression and suicide even among those not officially diagnosed with a mental illness.

Can’t Find Money To Eat

The UK mental health charity Mind says debt is leaving thousands of people with bipolar disorder struggling to find money to eat, stay warm and pay the rent. They wrote a report stating, “People who have been diagnosed with bipolar disorder may have particular problems managing their finances. During a manic, or ‘high’ phase, people can feel euphoric, brimming with ambitious schemes or ideas, their confidence excessively high. They may reach financial decisions that seem sensible to them at the time but which, in retrospect, are not. People may spend extravagantly and build up considerable debts.

“After a high phase is over, they are often shocked at what they have done and by the consequences they face. This spirals out of control very quickly and can be very daunting.” During a low phase, the person may feel so depressed they are unable to leave the house or even answer the phone. Unopened bills can pile up.

Comedian and writer Stephen Fry spoke out about his experiences on behalf of the charity Mind. He said: “My own bipolar condition has caused me to go on plenty of giddy spending sprees. Because so much stigma still surrounds mental health, many people can’t get a job, are on the poverty line, and can’t get credit from anyone but doorstep lenders charging up to 400 percent interest.”

Mind’s chief executive, Paul Farmer, adds that people with bipolar disorder can become trapped in a spiral of debt that further compounds their mental health problems. He believes that procedures need to be put in place that allow people to protect their finances while still retaining autonomy. Customers with mental health problems should be able to ask their bank to monitor their account for unusual spending patterns, and should be treated appropriately if they miss repayments.

Getting Out of Debt While Bipolar

Mental health professionals can sometimes offer advice and help individuals set a realistic budget. They may be able to help set up a repayment plan to creditors and teach financial management skills.

Friends and family may be able to assist by creating checks and balances to prevent manic spending sprees. If in agreement, they could monitor the individual’s money from a distance. Psychoeducation could also be a good idea. This is teaching people with bipolar disorder about the illness, its treatment and how to recognize triggers which might cause relapse so that early intervention can be sought before a full-blown illness episode occurs. The approach may also be helpful for family members.

In addition, there are support groups available for patients and their family members to help them talk openly about the condition. Studies suggest that the availability of social support increases the chances of employment in patients with bipolar disorder compared with those patients without support.

As always in bipolar disorder, lifestyle decisions such as exercising and eating well can help avoid problems. Keeping regular sleeping patterns is thought to be helpful in preventing episodes, as is avoiding excessive stimulation such as caffeine or stressful social events during the onset of a possible manic episode.

When tempted to make a large purchase, people with bipolar disorder might feel able to alert their spouse, partner or friend in time to discuss the purchase. There may also be the possibility of delayed order processing which needs a second approval at the end of a cooling off period before final confirmation.

Whether it is repairing the damage caused by excessive spending during manic episodes, dealing with loss of earnings as a result of illness, or taking steps to prevent future problems, financial health is a top priority. It can be as important a factor in staying well as any other form of help, treatment and support.

 


What exactly is Bipolar Disorder?
 

What is Bipolar Disorder?

Definition

Everyone has heard life described as a roller coaster ride. We all will experience some intense highs and some incredible lows, but we expect this, for none of us thought living was an easy and predictable road. For many people though, the roller-coaster cliché describes a much more terrifying experience; an inner turmoil called bipolar disorder that can bring emotional, physical, and psychological pains far worse than anything most people could ever imagine. More than 2 million American adults or about 1 percent of the population age 18 and older in any given year, have bipolar disorder (Spearing, 2001). Until recently, bipolar disorder was known as manic depression. The word bipolar is now used to indicate the two poles, or extremes, that characterize the disorder. Bipolar disorder is a brain disorder that causes unusual shifts in a person's mood, energy, and ability to function. Different from the normal ups and downs that everyone goes through, the symptoms of bipolar disorder are severe. They can result in damaged relationships, poor job or school performance, and even suicide. But there is good news; bipolar disorder can be treated and people with this illness can lead full and productive lives.


Bipolar Spending Sprees

Bipolar disorder and the Spending Sprees
May 12, 2005 Optum

Question:
When I feel down, I tend to spend large amounts of money. I spoke with my doctor, and he said something about bipolar disorder, but I don't understand why. What could the connection be?


Answer:

Bipolar disorder is sometimes called manic-depressive illness. It involves dramatic mood swings-from feeling overly "high" to feeling hopeless and even suicidal. Along with these mood changes come severe changes in behavior. The periods of highs and lows are called episodes.

A manic episode can include spending sprees. However, this symptom alone is not enough to diagnose bipolar disorder. A manic episode lasts for at least one week and may also involve:

  • aggressive behavior
  • distractibility
  • drug abuse
  • extreme irritability
  • increased energy, activity and restlessness
  • increased sexual drive
  • overly euphoric mood
  • poor judgment
  • racing thoughts
  • rapid speech
  • reduced sleep
  • unrealistic beliefs in personal abilities

A depressive episode may include:

  • feeling guilty, worthless, or helpless
  • feeling sad, empty or hopeless
  • loss of interest in activities once enjoyed, including sex
  • restlessness or irritability
  • decreased energy
  • difficulty in concentrating
  • sleeping too much, or getting too little sleep
  • thoughts of death or suicide
  • suicide attempts
  • changes in appetite
  • unintended weight loss or gain
  • chronic pain not caused by physical illness or injury

Difficulties with personal relationships and with work or school can occur with any of these symptoms. Severe episodes of mania or depression include symptoms of psychosis, such as hallucinations and delusions. Hospital treatment may be required.


Symptoms of bipolar disorder can occur in several variations. For example, a hypomanic episode is similar to a manic episode but less intense. And during a mixed episode, a person experiences both a manic and depressive episode nearly every day.


Again, spending sprees are just one possible symptom of mania. You and your doctor can discuss your situation in more detail and choose the next steps to take. You may be referred to a mental health professional for additional help.


Answered by Ginny Lund, M.A., L.P., C.E.A.P. Ginny is a clinical content lead with Optum, a company that delivers personal health management solutions designed to help individuals stay healthy, get healthy and live with illness. She earned her master's degree in counseling psychology and has worked with children, adolescents and adults addressing a wide variety of mental health concerns.



References

"Bipolar Disorder." National Institute of Mental Health. 2002. http://www.nimh.nih.gov/publicat/bipolar.cfm (Viewed 3/22/05).

"Bipolar disorder." Optum. 12/7/04. https://www.healthforums.com/library/1,1277,article~6147,00.html (Viewed 3/22/05).


Interested in submitting a question?

Remember, Q and A's provide general information only. They are not meant to replace professional advice or imply coverage of specific clinical services or products.


Spending Sprees in Bipolar Disorder

By Jane Collingwood
~ 3 min read

People with bipolar disorder experience severe mood swings which can last several weeks or months. These include feelings of intense depression and despair, manic feelings of extreme happiness, and mixed moods such as depression with restlessness and overactivity.

The disorder can also lead to impulsive spending sprees, usually during manic episodes. These can extend to cars, holidays and computers, costing thousands of dollars, as irrational decision-making takes hold. It may be wild “self-medicating” shopping sprees, unwise investments, extravagant gifts to family, friends or charity, or spending a fortune on gambling.

People with mental health problems are already more likely to be debt-ridden than the general population, and the number is even higher among those with bipolar disorder. Financial troubles can lead to problems such as stress, anxiety, depression and suicide even among those not officially diagnosed with a mental illness.

Can’t Find Money To Eat

The UK mental health charity Mind says debt is leaving thousands of people with bipolar disorder struggling to find money to eat, stay warm and pay the rent. They wrote a report stating, “People who have been diagnosed with bipolar disorder may have particular problems managing their finances. During a manic, or ‘high’ phase, people can feel euphoric, brimming with ambitious schemes or ideas, their confidence excessively high. They may reach financial decisions that seem sensible to them at the time but which, in retrospect, are not. People may spend extravagantly and build up considerable debts.

“After a high phase is over, they are often shocked at what they have done and by the consequences they face. This spirals out of control very quickly and can be very daunting.” During a low phase, the person may feel so depressed they are unable to leave the house or even answer the phone. Unopened bills can pile up.

Comedian and writer Stephen Fry spoke out about his experiences on behalf of the charity Mind. He said: “My own bipolar condition has caused me to go on plenty of giddy spending sprees. Because so much stigma still surrounds mental health, many people can’t get a job, are on the poverty line, and can’t get credit from anyone but doorstep lenders charging up to 400 percent interest.”

Mind’s chief executive, Paul Farmer, adds that people with bipolar disorder can become trapped in a spiral of debt that further compounds their mental health problems. He believes that procedures need to be put in place that allow people to protect their finances while still retaining autonomy. Customers with mental health problems should be able to ask their bank to monitor their account for unusual spending patterns, and should be treated appropriately if they miss repayments.

Getting Out of Debt While Bipolar

Mental health professionals can sometimes offer advice and help individuals set a realistic budget. They may be able to help set up a repayment plan to creditors and teach financial management skills.

Friends and family may be able to assist by creating checks and balances to prevent manic spending sprees. If in agreement, they could monitor the individual’s money from a distance. Psychoeducation could also be a good idea. This is teaching people with bipolar disorder about the illness, its treatment and how to recognize triggers which might cause relapse so that early intervention can be sought before a full-blown illness episode occurs. The approach may also be helpful for family members.

In addition, there are support groups available for patients and their family members to help them talk openly about the condition. Studies suggest that the availability of social support increases the chances of employment in patients with bipolar disorder compared with those patients without support.

As always in bipolar disorder, lifestyle decisions such as exercising and eating well can help avoid problems. Keeping regular sleeping patterns is thought to be helpful in preventing episodes, as is avoiding excessive stimulation such as caffeine or stressful social events during the onset of a possible manic episode.

When tempted to make a large purchase, people with bipolar disorder might feel able to alert their spouse, partner or friend in time to discuss the purchase. There may also be the possibility of delayed order processing which needs a second approval at the end of a cooling off period before final confirmation.

Whether it is repairing the damage caused by excessive spending during manic episodes, dealing with loss of earnings as a result of illness, or taking steps to prevent future problems, financial health is a top priority. It can be as important a factor in staying well as any other form of help, treatment and support.


Results of the Spending Sprees-Leads to Severe Depression

Precautions to take if you are Bipolar

 

If you are Bipolar you will need to take extra precautions because of your

manic episodes for this is the time you have a tendency for the spending

sprees. These items are mentioned in The Budget that works in our site,

however it is important for you to pay attention to them. Please review

The Budget that works carefully, for it is helpful information.

 

Here are a few tips to remember:

·        To get a grasp on the situation, ask these important questions:

§         When did the debt start?

§         Was there a significant “trigger” or event that caused the debt?

§         Has the debt remained steady? Has it increased?

§         Is it being reduced gradually?

§         Have you tried reducing debt in the past & failed? Why did you fail?

§         Critically thinking through these questions is ESSENTIAL to fixing the situation; until you know how you got where you are, you will not be able to fix it otherwise, you’ll just keep repeating the situation

·        Seek out help from your family (& maybe really close friends)

·        Accept responsibility for your debt

·        Set up systems to prevent more debt

§         Freeze your credit cards – literally. Have a family member hide them, or have them put them in ice so they’re not easily accessible. You can also call the credit card companies and put a freeze on your cards until the balance is paid in full.


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Stop Big Spending -Copyright December 2006