saving money
What are things people spend money on?

While dealing with personal finance it becomes very important to remind ourselves that the most valuable assets are the things we cannot buy. That is these are experiential purchases and not materialistic in nature. Some of the things people spend money on include love, beauty, health and entertainment apart from family and friends.

A National Survey conducted in Canada revealed that when asked the question “what made them happier, a materialistic or experiential purchase?” most people chose “experiential purchase”!

Family and Friends is one avenue where the scope for spending money is endless. Right from dinner at the nearby restaurant to ski trips in the Alps to water sports across 5 Oceans!

One proof for the expenditure of personal finance on love is the booming online dating industry. People spend money on online dating accounts to personal ads up to actual dating! And when things seem to get better for them, the expenditure turns towards relationship advice, flowers and engagement rings on Valentines Day, and a candy almost every other day for their loved ones. Although philosophically speaking the desire / need for love cannot ever be rationalised or explained but if anyone is to go by the recent events, it is a major driving force among most of the credit card carrying adults.

Looking good makes a person feel good especially in today’s highly competitive world. To add to this the angles for emotional appeal are virtually endless! The beauty industry is an exploding industry of our generation. Things people spend dollar bills on in the beauty industry ranges from anti ageing creams to fragrances and treatments like cosmetic surgery, fashion fitness, etc…that fetch huge amounts of money to the industry.

The money and emergency fund spent within the industry is always overshadowed by the fear of death and illness. Undoubtedly everyone would wish to increase their life span. They do so by spending money on preventive care, natural remedies and various other things across the spectrum from natural remedies to technological remedies. In addition to this fitness programs also is another avenue where people spend money on, that includes medication, nutrition, weight loss, vitamins and health insurance programs.

One avenue where the average person spends usually a lump some amount of their money is entertainment without using coupons. Apart from the traditional ideas of entertainment like music, movies, games, problem gambling etc…this also includes hobbies and personal interests. When it comes to something that is labelled “collectible” the average person usually spends a lot of money on those “collectibles.

On the lighter side some of the really needless things people spend money on are,

Water: As long as you are not travelling or are tied to medical condition that warrants you this purchase or say you get it for free, there isn’t a reason to spend money on water every now and then.

Some of the other such things people spend money on include Ice, Brownie Kits, Flavoured Cheese, Salad Mix, Designer laundry Detergent, Branded Toilet Papers etc…

In conclusion remember that the hard earned money that you spend on things that you can do would keep you happier in the long run.

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