Nobody else cares what you buy, so save your $

[geojen]

Why does a diploma from Harvard cost $100,000 more than a similar piece of paper from City College? Why might a BMW cost $25,000 more than a Subaru WRX with equally fast acceleration? Why do “sophisticated” consumers demand 16-gigabyte iPhones and “fair trade” coffee from Starbucks?

If you ask market researchers or advertising executives, you might hear about the difference between “rational” and “emotional” buying decisions, or about products falling into categories like “hedonic” or “utilitarian” or “positional.” But Geoffrey Miller, an evolutionary psychologist at the University of New Mexico, says that even the slickest minds on Madison Avenue are still in the prescientific dark ages.


Food for frugal people's soul

http://www.nytimes.com/2009/05/19/science/19tier.html?em

[PrincessPerky]

LOL
“Those features can be talked about in ways that will display my general intelligence to potential mates and friends, who will bow down before my godlike technopowers, which rival those of Iron Man himself.”

[hmd2009]

An awesome article, I've linked it on Facebook. Oops, am I showing off my technical prowess in doing that? Fail!!

[cschin4]

For one, getting a degree from Harvard puts you into the "elite". That in itself will more than pay for the degree from Harvard in terms of job opportunities. 2 people getting a business degree, one from JoeBlowU and the other from Harvard. Which one is going to start in on the 100K job?

As for other stuff. I like my stuff. I buy my stuff because I enjoy it and play with it and it enhances my world. I like having a nice car with heated leather seats. I like having a nice home with central AC that is an attractive home and a nice yard. I like the gadgets I have at home such as Dish TV with my DVR. I love my electric guitar and recently bought myself a processor (digitech RP500). I love to buy stuff for my kids and bought my daughter a Roland HP150 Digital Piano which she loves and is taking piano lessons. I bought my son a drumset and my other son a Fender Bass guitar and they all take lessons. I may buy my younger son a set of digital drums that cost about 2K (I am saving up for that one).
This summer we are going on vacation to the beach and plan to have a great time. I also bought and rennovated a home and now my mom is going to live in it.
And, on and on. In short, my philosophy of money is spend some, save some, give some away. We gave about $3K to our church this year as well
And, our home is paid off and we have no cc debt.

[Goldy1]

Yes, I bought a Taylor guitar a few years back. It was an acoustic..geez I had to get the es blue system put in which allows my acoustic guitar to be plugged into an amp. IT is something they INSERT IGNORE INTO the guitar.
I paid more for this. I had to have it to but I never use it!

I played with the I phone the other day..too much on it..not for me! I miss the good ol simple days(sometimes)

[geojen]

For one, getting a degree from Harvard puts you into the "elite". That in itself will more than pay for the degree from Harvard in terms of job opportunities. 2 people getting a business degree, one from JoeBlowU and the other from Harvard. Which one is going to start in on the 100K job?

As for other stuff. I like my stuff. I buy my stuff because I enjoy it and play with it and it enhances my world. I like having a nice car with heated leather seats. I like having a nice home with central AC that is an attractive home and a nice yard. I like the gadgets I have at home such as Dish TV with my DVR. I love my electric guitar and recently bought myself a processor (digitech RP500). I love to buy stuff for my kids and bought my daughter a Roland HP150 Digital Piano which she loves and is taking piano lessons. I bought my son a drumset and my other son a Fender Bass guitar and they all take lessons. I may buy my younger son a set of digital drums that cost about 2K (I am saving up for that one).
This summer we are going on vacation to the beach and plan to have a great time. I also bought and rennovated a home and now my mom is going to live in it.
And, on and on. In short, my philosophy of money is spend some, save some, give some away. We gave about $3K to our church this year as well
And, our home is paid off and we have no cc debt.

I think the point of the article was that people who buy things, not to make them happy, but to impress others, should save their money. Nobody is paying attention. Not that people who can afford to have nice things shouldn't buy them.

[swanson719]

Nothing wrong with having nice things if you can afford it without debt. If you can afford Harvard, go to Harvard. If you can afford a Ferrari, get a Ferrari. The point of these things is that they are status symbols. Driving a Ferrari makes you instantly financially elite, because the cost is excessively prohibitive. Driving a BMW or a Mercedes speaks of a moderately high income, but nothing else. DINK's can afford much more than a single income family with a 3 yr old and 4 yr old. So all of these things are relative until you reach the point where only the super rich can afford things. Whether you drive a Benz and have $150,000 in debt or I drive a Kia and have no debt is relative. Someone can lead a life that looks rich but have a lot of debt and make payments the rest of their lives, or someone can lead a frugal life and leave a large inheritance, or enjoy life in their later years. Who has what money makes no difference so long as you enjoy your life for what it is, not what money brings. Money doesn't buy happiness, but it sure makes things easier.

[Shewillbemine]

Statistically speaking, there is no data that suggests UNDERGRAD diplomas lead to higher salaries, bigger houses and happier, more fulfilling lives. Yes, a Harvard business degree should land a higher paying job but the road to Harvard b-school isn't paved by Harvard undergrad studies.

Congratulations to the one member who buys expensive things and has no debt. I'm sure that is not the case for 99% of the BMW/Mercedes drivers on the streets.