Connections among internalized homophobia, self-esteem and various shopping behaviours are investigated. Internalized homophobia, which affects nearly all gay men to some degree, and self-esteem may affect shopping behaviours such as credit card debt, venue of shopping, enjoyment from shopping, amount of time spent shopping and frequency of shopping. Data from 213 gay men were collected using an Internet-survey design. Results demonstrate that internalized homophobia has weak to moderate effects on thrift store shopping, discount store shopping and credit card debt. Although self-esteem did not predict shopping behaviour, it was correlated with shopping enjoyment. Implications, limitations and future research are discussed.