The mindset shift of why I'm not much of a consumer

The Subtle Trap of Lifestyle Purchases

The Subtle Trap of Lifestyle Purchases

Peter Fritz Latest, Money & You, Success November 3, 2017

Australia is one of the wealthiest nations on earth.

Our standard of living truly reflects the maxim, ‘The Lucky Country’.

So it’s easy to justify the way we indulge ourselves in material pleasures.
We’re huge consumers.

...

What I’ve learned is that if you don’t use your head instead of your heart (or your adrenal gland, or whatever it is that makes us buy these things), toys will keep you broke!

Through much pain and many sleepless nights, I’ve learned that the only way to buy them is with cash, (or cash deposited into your credit card first) and only when you can afford them.

... read more
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Easy if you live in Sydney, you'll be allocating all your resources to your mortgage.

 

I'm hooked on growth of assets!
Still, I have a particular colleague who still hasn't gotten over being a consumer. She loves to shop. But anyway, that's her life.

 

Nice article @Gockie

It is so true, the "got to have culture", i blame advertising
There is also the consumer who doesn't know better also

Remember, no one lives forever
So as I get more comfortable with my financial possition I am "rewarding myself "

No point being a tight a.. forever

 

The real test of consumerism is what you do when you encounter excess. Do you consume more now just because you can without notable impact to your financial position or do you give more to those who genuinely need it? ie. Does your focus stay with ME or do you expand it to cover WE?

 

Yes. Let the investments make the money... then enjoy it. Delay the gratification.

Btw. I'm enjoying this weekend. (Its my birthday, so its no ordinary weekend). The Southern Highlands.... Geez it's nice. And if you want to splash money on experiences and a little luxury here I have to say its very doable.

 

A fair question. Put on your own oxygen mask first.
I think invest in things that will help humanity. Technology, science, medicine does that for me. I support technological advances. The world will keep changing faster and faster in the age of information.

However, I still don't enjoy going shopping - I still consider every decision.
And even though my iPad 2 is super slow, I haven't yet upgraded it!

I have gotten rid of household items using my local suburb swap facebook group (it's the "Buy nothing" page) - on that group you list things so other people in your suburb can have them - for free. And in turn, if there is something you see and you want, you can have that. I think it's a great way to operate and be less of a consumer.

 

Happy birthday @Gockie Spend big this weekend and enjoy

 

Thankyou @ellejay! Ps. I checked out the prices to stay at airbnb properties around here... I'm gobsmacked! (and I think that's an opportunity!) Anyway, we are staying somewhere very nice... the Fitzroy Inn. Gorgeous property. I can happily recommend it.

 

That's one area I haven't explored yet. I finish my latest contract in a few weeks then nothing planned. I might go have a look around there.

 

I spend all of my money on my animals. Not interested in accumulating material junk.

 

@Gockie happy birthday to you.

My attitude to spending has changed abit now, where I think about purchasing something that will last and be cheaper in the long term. Ie buying RM William products because of their track record of lasting for many years, even though the initial costs may be high ($545 for a pair of shoes).

I only spend on items which I must and it's been a long time since I've purchased something for the sake of it.

 

I hate to shop. I never just "go shopping". I only ever go shopping if I really need something. I use what I have. If something breaks, I fix it. If I can't fix it, I look in gumtree. Last resort is to buy new.

It makes me happy not to have to shop, so that works.

 

Do you mind me asking how much per day? Just curious

We are off to Melb in a couple of weeks, already booked the Oakes in South Yarra. I thought was reasonable at around $165 per night

Happy Birthday Enjoy.. love Melb

 

Nothing like a bit of BS maths to support your agenda.
How on earth can they calculate that an investment returning 7.5% is worse than an investment returning 6%?

Anyway. Ignoring that peice of the puff.

I would challenge anyone who thinks they aren’t consumers.
I’m a consumer, albeit somewhat selective (said while typing on an iPhone).

I don’t like spending money and don’t see value in a lot of items. However if something improves my life, even if for just a short while, then yes, I consume.
Even my selective consumerism remains higher than 99% of the world population.

Blacky

 

I subscribe to this method, rather than the article's all-or-nothing approach. Some things require money to enjoy, so they should be enjoyed responsibly.

I go a step further with extravagant toys (cars) with ongoing costs (fuel, depreciation, insurance etc) which should not only be bought with investment profit, but also be bought in tandem with further investments that create enough positive cashflow to offset those ongoings.

 

Thanks MTR. The choice of rooms was limited as it was very last minute, so we ended up with the best room. About 64sqm in total, it's massive!

The normal rate is basically $395 a night but we were a last minute fill the room request and the lady gave us the room for $589 for the 2 nights, (Friday and Saturday night). It's a gorgeous place!

 

21 again?

 

Well I gotta be honest, we didn't work this hard for so many years to then have to think twice about consuming now. We are consumers and go for our lives at times. We generally wont buy something if we don't need it but then on other days its like wtf I'm getting it anyway cos I can.