May 10, 2013
What is materialism? Why should you care to understand it? What does it have to do with personal finance?
What is materialism? Why should you care to understand it? What does it have to do with personal finance?
Materialism is letting possessions define who you are. I should care to understand it, because materialism is followed by debt and stress, neither of which I care to have more of! Materialism has to do with personal finance because of the debt you will have acquired, since you haven’t separated your self-image from the stuff that society says you must have.
Nice answer, Katherine. You identified many good points. Let’s recap. Materialism involves YOU allowing “stuff” to define who YOU are. New cars, designer clothing, big homes, big paychecks, prettier spouses, etc. tell us nothing except where your priorities lie. Materialism leads to debt, stress and broken relationships. Don’t ever forget that. Advertising is nothing more than legalized lying. It is an allusion of happiness, popularity, success, etc. You cannot afford to buy into those messages.
Do yourself a favor and push materialism out of your life. That means developing a self-image that has nothing to do with the “stuff” in your life and EVERYTHING to do with the kind of person you choose to be. The book, Your Money or Your Life by Vicki Robin and Joe Dominguez illustrate this point quite well. Choose your paths carefully. One leads to emotional and financial bankruptcy and the other can lead to true and long lasting joy. Get on the right path!