This research by Whydo is supported by our readers. We may earn a commission when you purchase through our links. Learn more
Why do people spend so much money
Spending money has always been a part of life. You go to market to buy essential things for living and consume them for leading a decent life but if spending money becomes an addiction then it is a problem. These days it seems that spending money has become synonymous with happiness in people’s minds and hence everybody seems to be on a spending spree.
There are many reasons behind this kind of spending. One is materialistic prosperity. With economic boom, materialistic prosperity has also increased and people’s purchasing power has increased immensely and so spending money on material comforts has become a way of life. On the other hand, since most of the couples work as professionals , spending long hours at work place, spending money on toys, clothes and other things seems a way to them to give happiness to their kids and family.
For some people, over spending has become a way of life because of their procrastination habits. They do not keep discipline in their lives and end up spending more than required. In this category come those people who do not pay their bills on time, do not check their insurance papers, do not ask for better deals when buying big assets like car, house, etc., do not plan and cook meals at home and end up spending more money than required.
On the other hand, companies selling lifestyle related products have left no stone unturned to promote themselves through such advertisements which make you feel that your life is incomplete without buying those things.
One should not forget that there is no end of desires in our lives and we should always ask ourselves before buying that piece of clothing or that watch that do we really want them? Can we live without them? Once we begin to question our desires, this endless ‘felt need’ will stop and we will be at peace with ourselves.