A old concept whose time has come again – ‘calculated consumption’
This piece is interesting in how it illustrates new consumer behaviors that are aligned with debt reduction, and purchases that are required versus ‘keeping up with the Joneses’. Examples are used of folks “work-spend treadmill.”
But Will It Make You Happy? | NY Times
“We’re moving from a conspicuous consumption — which is ‘buy without regard’ — to a calculated consumption,” says Marshal Cohen, an analyst at the NPD Group, the retailing research and consulting firm.
Calculated consumption means matching lifestyle, income and spending, rather than what for many has been matching lifestyle with borrowing.
What is particularly interesting is that this approach to financial life is one that will ultimately make people happier.
On the bright side, the practices that consumers have adopted in response to the economic crisis ultimately could — as a raft of new research suggests — make them happier. New studies of consumption and happiness show, for instance, that people are happier when they spend money on experiences instead of material objects, when they relish what they plan to buy long before they buy it, and when they stop trying to outdo the Joneses.
So, getting a loan from CommunityLend to pay off those high interest credit cards might just bring smile to your face!
