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When Overspending Backfires

When Overspending Backfires

Many of us spend lots of money on designer purchases. While we believe these items will make us feel confident, overspending often backfires. Inside: Why science says it's prudent to shop for our authentic selves (and not our aspirational ones!).


When Overspending on Luxury Backfires

 

Many financially-able consumers commit to overspending on designer purchases. Because luxury goods by nature are both pricey and in high-demand, such possessions communicate status and prestige.

Then there’s our biology: evolution reinforces comparing and competing. In the age of social media we post fancy photos of ourselves doing fancy things as a way to prove we, too, are as worthy as our peers.

But while consumers assume investing in designer items will result in confidence, overspending often backfires.

On today’s show I discuss the paradox of luxury consumption with Dr. Dafna Goor and Dr. Nailya Ordabayeva, two researchers who analyze how designer purchases *actually* influence self-worth. We identify why overspending backfires; we outline reasons the why science suggests buying for your authentic self (and not your aspirational one), too.

Enjoy!

 

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Many consumers overspend on designer purchases. Because luxury goods by nature are both pricey and in high-demand, such possessions communicate status and prestige. But while consumers assume luxury items will offer confidence, overspending often backfires. Inside: what designer purchases *actually* say about self-worth; why science suggests buying for your authentic self (not your aspirational one), too.

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House Rules

When it comes to furnishing and styling ours homes, we all deserve spaces that facilitate easeful living. But for those of us without an eye for design? Furniture and decor mistakes can happen (and they can be costly).

On today's show best-selling author Myquillyn Smith reveals her signature house rules for homes of every size, style, and budget; she also shows us how to get the most amount of comfort from our space with the least amount of stuff.


Here's a preview of the house rules we are discussing today:

[16:30] Threes, please

[21:00] Resourcefulness is the ultimate resource

[25:00] Plan on the kids growing up 

[29:00] Timelessness is here to stay 

[34:00] The size of your house does not dictate the size of your hospitality

 

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Hello there, I’m Stephanie. I live a crazy, beautiful life as a full-time wife, blogger + mother to two spirited daughters. I’m on a mission to simplify eco-friendly living so as to greater enjoy life’s sweeter moments.

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Sustainable minimalism for home, head + heart.

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