Tag Archives: spending

The Millennial Generation Is Spending More Money Than Ever On Luxury Goods

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We’re broke, we’re unemployed, we owe student loans, we’re living off our parents, we have degrees in things like English and Philosophy, we’re unprecedentedly narcissistic, and as if we couldn’t get any more charming, all the money we do have we spend on luxury goods: welcome to Generation Y, bitches! The millennial epoch, composed of those born between 1980 and 2000, is the fastest-growing demographic of those who purchase luxury goods. Consumers of this generation increased spending on premium fashion and services by 33 percent in 2011, and while boomers remain the foremost buyers of luxury items at 50 percent, millennials have altered their habits drastically in the past year alone. Keep reading »

Study: People Who Spend Their Money On Experiences Are Happier

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How you spend your money says a lot about you — and it says even more about whether or not you’re a happy person. A new study from San Francisco State University asked nearly 10,000 people to evaluate how happy they were. It found that people who spent their money on experiences were generally happier than people who spent their money on material goods. Experience-oriented spenders–people who’d rather spend their cash on a dinner with friends, a trip or a movie rather than a new shirt — also reported that they got along better with others and experienced less anxiety than their materialistic counterparts. 

That’s in part, said the study’s lead researcher Ryan Howell, an assistant professor at San Francisco State, because experiential spenders are bigger risk takers. “You are taking a bigger risk on a night at a new restaurant or play,” he said. “You can’t return a trip or a meal the way you can return something from a store.”

So what kind of spender are you? Experiential or material? [NY Times]

Girl Talk: I Went On A Shopping Ban … And It Backfired

I’m fairly certain that I have an addictive personality. I’ve avoided drugs, gambling, cigarettes, and alcohol based on those suspicions, and likely will continue to do so until my dying day. But I got blindsided by my own addictive tendencies when I discovered the joys of personal style. After years of hating my body, I finally figured out that I could look and feel fabulous if I simply dressed to highlight my favorite physical features. It was an absolute revelation, and sparked a new-found, fervent love of clothing, shoes, and accessories. Soon, I fell into some pretty ridiculous and harmful shopping behaviors, the repercussions of which came to a head about three years ago. I had allowed my debt to grow exponentially over several seasons of frenzied acquisition. I’d begun making mental bargains with myself about how another $200 on the ol’ MasterCard wouldn’t make THAT much of a difference in my monthly payment, and I definitely needed those new Frye boots before fall arrived. I’d dug myself into quite a hole, and felt utterly incapable of clawing my way out. Keep reading »

Money 101: Identifying The Money Drains In Your Life

I’m amazed at how every time I walk out of my apartment, cash just seems to seep out of my wallet. So, this year, in a conscious effort to make my paycheck stretch a bit longer, I’ve been keeping a watchful eye on my miscellaneous expenses. Here are some common dollar drains I’ve found and tips to put a stop to them before more money flushes down the proverbial drain. Keep reading »

Don’t Let Santa Bring You Debt This Year For Christmas

Even though it’s less than two weeks until December 25th, I’m experiencing a small Christmas miracle: I’m not feeling the holiday panic. Why? The day after Thanksgiving I put together a gift-giving plan for my loved ones and accompanying to-do list and I’ve been chipping away at it — both online and by shopping here and there — ever since. But in terms of my wallet? Yeah, I’m feeling a little anxiety there. According to the National Retail Federation, the average American spends around $700 on Christmas. And for a lot of us, myself included, I think that’s a conservative estimate …

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Watch 15 Fashion Addicts Refrain From Purchasing For A Year

The idea of going on a spending fast is nothing novel—we’ve heard stories about people challenging themselves to not even buy one single thing or to refrain from buying anything that’s absolutely unnecessary. Here’s a new project: the Free Fashion Challenge takes 15 “fashion addicts” (they really can call themselves this because the group is made up of fashion professionals and students) and asks them to not buy any clothes for a year. During that time, they blog about their experiences, and some even face extra challenges. Why do this? Keep reading »

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