Public Spark

• Less to social pressure, yes to shopping procrastination

  There are so many choices of merchandise to choose from and so many ads/ marketing schemes that sellers use to get people to buy. New products are reaching the market at immeasurable speeds. It is easy to want the next latest thing that everyone has. In the tech world, it’s the MacBook Air Lap top, or the iPhone, for example. It’s great to want these things, but understand that the price will drop once the initial fad is over. It’s also worth the wait, even though you don’t get the Ooh’s and Aahh’s of people around you, you’ll have more money in your pocket.

• Do you want or need it?

  It is hard to differentiate the two, but this is critical in being a smart buyer. Understanding your needs and wants tell you how you are splurging and how you are using your money. Some questions to ask:

  • Do you need a standard cell phone, but want an iPhone?

  • Do you need a cheap car, but want a Rolls Royce?

  • Do you need a pen, but want a Mont Blanc?

• Understand that buying/ having material goods does not give you long-term happiness

  The happiness that material things bring is ephemeral. Have you ever been excited to get new shoes and then after a week or so you forget about it? The book How of Happiness by Sonja Lyubomirsky talks about this phenomena as a result of hedonic adaptation, human’s natural ability to adapt to things quickly. Furthermore, having things like wealth actually only make up 10% of your happiness. Of course, there is nothing wrong with shopping in moderation, but understand that it’s the experiences of going shopping, being around friends that will truly last a lifetime.

Resources:

Psyblog’s article called Experiences beat Possessions: Why Materialism Causes Unhappiness