Dec 31 2009

With Expensive Stuff Comes Insecurity

With all the great new toys and clothing that everyone received this holiday season, there may be a rising sense of insecurity as we accumulate more stuff – especially the expensive stuff.

Wouldn’t you be a little more cautious when pulling out that new iPhone or flashing those glimmering diamond earrings? The more valuable the stuff we own, the more afraid we are that they are going to get hurt or go missing.

Expensive Stuff Is Pampered
Let’s say I owned a Honda Civic ($16,000) and a Mercedes SL550 ($98,000). I’d park the SL550 in the garage and the Civic on the driveway. More tears would be shed over a scratch on the SL550 than a broken headlight on the Civic. Since I’d like to reduce the probability of the SL550 getting hurt, the Honda would get more miles. In the back of my mind, I know it will cost more to fix the expensive car so I choose to drive it less.

Warranties, extended protection plans, and insurance were invented to prey on us consumers because it is our natural instinct to care more about stuff that is of high value to us – it could be monetary value or sentimental value. Therefore, we are likely to spend additional money to protect expensive things.

Expensive Stuff Gets Attention
People are biased against the less expensive stuff they own. It is entirely understandable that someone would flip out over a stain on a $300 jacket instead of a stain on a $20 T-shirt.

The more expensive the stuff in my possession, the more concerned I am about its safety. Thieves, crooks, and pickpockets see expensive stuff and want to take it. I admit that I am overly cautious about my iPhone in my coat pocket as I ride on the NYC subway – and I am certain that I’m not the only one exhibiting such behavior.

When I walk off the train, I don’t check my $20 scarf, my $40 watch, or my $100 textbook – I attend to my $300 iPhone.

And Then… Forgotten
Just picture a closet full of designer handbags, shoes, and dresses that still have their tags on them. Many ladies are guilty of this, including the main character of “Confessions of a Shopaholic”. On the other hand, guys succumb to technology and gadgets. The expensive set of power tools intended for DIY projects, the surround sound system for the movie theater experience, and the latest workout equipment are the typical stuff the men leave around to collect dust.

It is an all too familiar event when someone doesn’t want to use an expensive item and ends up not using it ever. Time depreciates the value of most “stuff” to a point when we no longer hold these things close to our hearts enough to care anymore.

Consider Efficiency and Practicality
Again, this topic circles back to the instant you decide whether or not to purchase things. Do you really need it? Will you use it enough to make it worth your money? Knowing that you’ll get the most “bang” for your “buck” would eliminate your worries of feeling insecure.

Expensive stuff need not be avoided. Like everyone else, I will continue to buy the luxuries I can afford and that sense of insecurity would come knocking. While acknowledging the emotional burden that comes with expensive things, it is most important to be prepared to deal with it.

(Photo credit: subcircle)


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