If you’re like most people, you might be tempted to replace your vehicle every few years or pick up the latest technology. You might believe that owning the newest and best items will improve your happiness, success, or popularity. But is this really the case?
I’m going to push you in this blog article to reevaluate your purchasing patterns and think about the advantages of keeping existing perfectly good things rather than buying new ones. I’ll also offer some advice on how to avoid impulse purchases and how to put money aside for things that are truly important.
Why You Don’t Need the Latest iPhone or the Newest Car
The term “planned obsolescence” refers to the practice of producing goods that become obsolete or useless after a specific amount of time, and you may have heard it before. This is done to entice customers to purchase new goods and increase revenues for the companies.
However, planned obsolescence is harmful to the environment, your health, and your money. You don’t require the newest iPhone or car for the following reasons:
- They are pricey. You may spend a lot of money if you finance new appliances or vehicles with loans or credit cards. It’s possible that you will end up paying more in interest and fees than the item itself is worth. Additionally, the cost of insurance, upkeep, and repairs can increase.
- They waste resources. You are contributing to the buildup of more garbage and pollution every time you purchase a new item. Electronic trash is one of the waste streams with the fastest rate of growth in the world, reaching 53.6 million metric tons in 2019. The majority of this trash is neither recycled nor properly disposed of, endangering both human health and the environment.
- They lack satisfaction. According to studies, purchasing new items does not increase our happiness over time. In actuality, it can have the opposite outcome. When we purchase anything new, we may briefly feel more happy or excited, but this feeling quickly fades when we grow used to it or compare it to other things. This can result in a cycle of dissatisfaction and discontentment known as the “hedonic treadmill.”
- They are annoying. We become less focused and productive when our physical and mental spaces are cluttered with objects. We can also devote too much time and effort on preserving, improving, or showcasing our material possessions rather than pursuing our ambitions, hobbies, or relationships.
How to Save Money and Keep Your Perfectly Fine Items
How can you save money while keeping your other perfectly good stuff now that you understand why you don’t require the newest iPhone or car? Here is some advice:
Be happy for what you have. Be appreciative for what you already have rather than concentrating on what you lack or what you desire. Consider how your current technology and vehicle fulfill your needs and simplify your life. You could even want to compile a list of everything you appreciate about them and refer to it frequently.
Refuse to give in to pressure from others. Don’t let other people’s choices or opinions affect how much money you spend. Keep in mind that every person has individual preferences, considerations, and situations. What functions for them might not function for you. You don’t have to keep up with the trends or try to make an impression with your goods. Embrace your own values and decisions with confidence.
Resist getting tempted. Avoid unneeded triggers that can make you want to purchase new items. You may limit your exposure to advertisements, unsubscribe from marketing emails, and unfollow social media profiles that support consumerism. You can also stay away from shopping centres, online stores, and showrooms where you could be tempted to make impulsive purchases.
Set goals and a budget. A detailed financial plan may keep you on target and prevent overspending. To keep track of your income and costs and to set limits on expenditure for various categories, you can use a budgeting application or tool. Additionally, you can make precise and attainable financial goals, such as creating an emergency fund, paying off debt, or putting money down for retirement.
Choose your rewards wisely. Not all pleasures must be sacrificed in order to save money. You can still reward yourself every now and then but choose wisely. Instead of rewarding yourself with material items, you may, for example, take a trip, enrol in a class, or enjoy a hobby.
Even though purchasing the newest iPhone or car could appear alluring, doing so is neither necessary nor advantageous to your enjoyment, well-being, or finances. By appreciating what you already have, defying peer pressure, avoiding temptation, creating a budget and a list of goals, and rewarding yourself appropriately, you may save money and maintain your perfectly good possessions.
You will not only eliminate waste, sharpen your attention, and feel more content by doing this in addition to saving money. Additionally, you will have more opportunities and resources to pursue your goals and have a positive impact on the world.