February 12, 2015
What is the connection between materialism and debt? How can it be overcome?
What is the connection between materialism and debt? How can it be overcome?
There is a direct relationship between materialism and debt because there is a direct relationship between spending money and having less money. If your someone who is willing to buy any new or fancy item you see you will not be able to pay for all your other living expenses. If your someone who buys a new car every year you will always have a car loan that is eating away at your finances. If you buy something new if will no longer be new very soon after you buy it, people get used to stuff due to the hedonistic treadmill. Once your new item is no longer new you will want something else to give you the same fake feeling of happiness. If you stop caring about stuff and items you will be able to take control of your finances and your life. If you step back and see all the stuff you buy in the month you can try and cut out the stuff you dont really need and did not really want in the end. You should pay close attention to what you spend money on. If you set a limit on how much money you can spend in a month you will be better off. Its ok to buy some stuff you dont need but dont go over a set limit that you put on it. Most people have a week point and should try to cut down on it, most people’s week point deals with materialism and just wanting that stuff for no real reason.
Materialism is a trait where a person has a high value for possessions/material things and the social image they project. Because you have to spend money to get things, people who aren’t carefully keeping track of how much they are spending on these possessions can very easily end up in debt.
One way to overcome this pitfall is to keep track of your daily spending so that you are aware of how much you are spending and what you are spending it on. It will allow you to see if you are buying things that you really do need, or if they are things that you think you need. Many material things are presented to you in a way that makes you think and feel like you need them—the luxury car, the designer clothes, etc.—but you have to take a step back and realize that there are many other options available to fit those needs without all of the extra costs from the bells and whistles.
Those are wonderful answer. I have nothing to add.