Stop Buying Stupid Shit!!!
First and foremost, I want to warn my readers this is a no fluff, no bs, cold hard truth article. And while this may hurt some of my readers feelings, it is the absolute truth, and a major issue we all struggle with. And yes... That includes the Wise Financial Man. You see we all struggle with buying stupid shit. Sound familiar? Can you relate? By this time you are probably nodding your head and hopefully not with the majority of the population that are in denial.
You see you are not alone. In fact the majority of the United States along with other parts of the world all struggle with buying things we do not need. This movement of buying things that we desire and want, however do not need is part of a word called HYPERCONSUMERISM.
Now what exactly is this large word I mentioned? Wikipedia defines Hyperconsumerism as, "the consumption of goods for non-functional purposes and the associated significant pressure to consume those goods exerted by the modern, capitalist society, as those goods shape one's identity."
What does that exactly mean?
It means we live in a world where we purchase an astonishing amount of goods we do not need to survive due to our wants and not our needs. We may purchase these items because we believe they will provide happiness, we believe they will provide some type of usefulness, or we believe they will make us look cooler and enhance our social status and or image.
How do most people afford to buy these non-necessities... Simple! We take our little magic pieces of plastic also known as credit cards, and swipe away. I mean get the goods now and worry about paying it later right? Well that's kind of the truth except this repeated action will bury you in credit card debt in which you will be paying outrageous interest rates on.
And even worst, making these purchase typically will lead to short term or non existent happiness, usefulness, or social status increase. You see, there are constantly new products coming out. There will always be the latest and greatest goods that come to market day after day, month after month and year after year.
Two perfect examples of this is how many times have you bought a apple iPhone, iWatch, iPad, or MacBook, where the next generation or model comes out one month later. All of a sudden you went from the cool kid on the block with the newest toy to just another person with an outdated Apple Product. Don't you hate when that happens! And guess what... Now you want the latest and greatest again!
The same goes for vehicles. I can't tell you how many times I have bought a car or truck, with the following year some major improvement coming out. For example when I was young an dumb in 2010, I decided I would buy a 2010 red Ford Mustang v6. At the time, it was the newest Mustang body style and looked absolutely amazing! The downside was Ford used the same 4.0 Liter V6 motor from the previous years. And guess what... In 2011 they came out with the new 3.7 Liter V6 motor that was not only lighter, it made more power, and had better gas milage. And to this day, nine years later, I still remember that. Man oh man to this day did I miss out!
Now if you are saving money, investing, and have the finances in line to buy something that makes you happy occasionally that you really want... That's one thing. But if you are going in to debt or even worse buying items to impress other people, then you are definitely on the wrong path.
One of the things I find most interesting that we all do is buy stupid shit to impress stupid people that we could care less about or hate. And I can guarantee 99% of you can relate. How many times have you went and bought new clothes, a new apple watch, a new car, a new house, taken a vacation, and posted it on social media to impress friends, acquaintances, coworkers, family members that we do not like. In fact most of the people on social media that we are trying to impress we do not know or barely interact with them in person. But will save that discussion for another time.
The point here is we need to slow down on our consumption of goods. Especially if you are trying to become a Wise Financial Man or Woman. You see when you are spending every last penny you earn, swiping your credit cards, and taking out loans for items that are not needs but rather wants, you will never become financially independent. You will never become wealthy, never be able to retire, and never build generation wealth that most of us desire to accomplish.
Now you may look wealthy and try to act the part, but like most people you will only be "flexing" trying to imitate wealth. You will try to Keep up with the Jones, and have the latest and greatest mansions, cars, and personal items, however you will never be the Jones. You will only be up to your eyes in debt faking the part, and will never experience the true definition of wealth.
In fact do you know that the majority of millionaires in the United States who are not movie stars, sport athletes, government officials, and CEO's are blue collar people the practice frugal lifestyles and spend within their budgets. Most buy used cars, have a affordable moderate house, and live a reasonable life style. Surprise surprise, the majority of people who do not act rich are rich. And the ones that act rich, look rich but are not rich. Don't believe me... Just read the book, "The Millionaire Next Door"
So at the end of the day, the decision is yours. You can continue to buy useless items that bring temporary happiness, usefulness, and social status. Or you can make the wise decision to cut back your purchases of non necessities, and begin to pay off debt, build a emergency fund and a savings account, and invest. Only you can make that decision. But let me leave you with one last parting advice worth thousands of dollars... If you want to build wealth and be financially independent one day, STOP BUYING STUPID SHIT!!!