So often we pit decluttering and being green against frivolous spending and self indulgence; virtuous against irresponsible; conserving against wasteful. It can get to the point where you can feel guilty about buying anything you don’t absolutely need!
To the rescue comes a study from Harvard B School showing that in the long run, people don’t regret having spent a lot of money on pleasure. The key is the time frame. When people felt they would regret a purchase the next day, they didn’t make it. When they felt they might regret that purchase several years down the line, they made it.
Another key idea for me is that the buyer really wanted the luxury item in question. It was clear to them that they would enjoy it and savor it. This is quite different from buying something because you want the experience of buying it, or because it’s a status symbol, or just because everyone else is buying it.
I’m all in favor of having experiences and stuff that make you happy. Just check in with yourself about why you want something. And use the research; ask yourself if tomorrow you’ll regret forking out for that ruby-encrusted watch or if in five years you’ll still feel surge of happiness every time you see it on your wrist.
Do you have something you spent a fortune on that you regret now? Or that you’re completely content with?
Chanel J12 watch from bbaunach’s photostream