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Why Do Poor People ‘Waste’ Money on Luxury Goods
Have you ever thought why some financially weaker people in the society choose luxury products for their personal use? You would find many such people who are poor but still go on making illogical decisions when it comes to purchasing branded goods that symbolize the status of a wealthy person. Let us see why they waste their precious money on luxurious items.
To Gain a Sense of Belongingness
Every individual has a personal need to belong to a group. It is this need that drives a person to follow the styles and status of a specific group he/she likes. Most of the times, poor people want to be associated with a wealthy group so they could also adopt the image of that group. Their wish to belong to a group of people possessing luxury goods also drives them to buy such products. They believe that spending money on luxury items would make them more attractive and acceptable to group members.
To Look More Presentable
Just to look similar to other members of the society, poor people spend money on improving their personal appearance. If they are not presentable or look different from the crowd, they might not receive a kind treatment from certain groups of people.
To Avoid Being Stereotyped
Many people in the society think negatively about those who are poor. They have stereotypes about these individuals who are not financially strong. To avoid this stereotype, poor people might want to be indulged in luxurious activities and stuff. They feel the pain of being stereotyped as ‘poor’ and want to avoid this tag.
Thus, there can be several reasons for poor people spending more on luxury. However, all their activities are ultimately aimed at achieving a better status within the society and at improving their social image.