What IF… Do you need it? Can you afford it? Spending, status and the ‘Me’ economy.

Last week the minimalists – Joshua and Ryan – launched their limited-run travel bag partnership with Malcolm Fontier. They made it very clear that most people probably don’t need a new bag. They discouraged people from buying their product. They said that no physical good is going to make your life happier or more complete. They said “so, please consider this bag only if you need it and can afford it. Otherwise, let it go—it’s just a bag”.

That’s unusual. It’s different.

  • Imagine if everyone did the ethical decent thing and said ‘don’t buy my product unless you can afford it’?
  • Imagine if you asked your friends, neighbours or co-workers if you could borrow their travel bag?
  • Imagine if you borrowed that travel bag from the Share Shed?
  • Imagine if you owned that travel bag and you loaned it out to friends and people you don’t even know?

Imagine if that was normal… ?

Most of us are Impulse shoppers, Status shoppers and Aspirations shoppers

  • We buy things we don’t need with money we don’t have to impress people we don’t even like.
  • We buy stuff we can’t afford and don’t need to keep up with – or exceed – the Joneses’.
  • We buy things we don’t need and can’t afford to ‘show-off’… Facebook is ‘Gloat book’ after all!
  • We spend more than we earn. We’re living off credit cards and spending money we don’t have on stuff we don’t need.
  • Our self-worth is based on what we buy, own and want to own.
  • It’s about having exactly what we want, exactly when we want it, regardless of whether we can afford it or not.

It’s the ‘Me Economy’. The ‘Me Economy’ is when we’re more concerned about ourselves first and others second. It’s led us to have literally no tolerance and no patience to wait. The turbo-charged ‘Me Economy’ has made us Impulse shoppers, Status shoppers and Aspirations shoppers.

  • On average we buy 27kg of new clothes each year and we only wear most items 6 times.
  • Lots of Australia and American families are eating off paper plates and out of plastic cups to save washing up
  • People complain about the price of electricity but spend more money on take-away food and bottle water
  • We moan about the cost of living but then go and buy fruit that’s cut, chopped and wrapped in plastic

Paper plates, bottle water and chopped up fruit are the new social norms – The things that so-called ‘normal’ people do.

But what if we did things differently?

What about if we only bought things f we really needed it and only if we could afford it? What about if we asked friends, neighbours or co-workers if we could borrow their stuff?

Why do 400 people with 400 lawns, all in the same suburb, each own a lawnmower? Do we need 400 lawnmowers in a suburb?

I didn’t buy anything new or second-hand in 2014 and saved $52,680 in 12 months. I quit impulse shopping and saved my money. I changed my spending and transformed my savings. It started as a lifestyle experiment but it changed my life so I kept on going. I LOVE helping professional men & women break the habit of impulse shopping and save their money through my Underspent book, online programs, weekly blog+video.

Here’s 2 solution that worked for me:

  1. Write a ‘Passion List’ – Answer these questions: What do I love doing? What brings me happiness? What makes me smile? What could I do all day? What are my favourite weekend activities? What don’t I enjoy? Write all your answers on your ‘passion list’. Then, spend your time and money on the things you love doing and on the things that make you feel alive, full of energy and bursting with enthusiasm.
  2. I got into swapping, sharing and selling – I swapped the clothes I didn’t like and didn’t wear. I shared the books I’d already read. I sold some things I didn’t like and didn’t use.

13 minute VIDEO – “What IF… Do you need it? Can you afford it? Spending, Status and the ‘ME’ Economy”. https://www.facebook.com/cyclingrachel.smith/videos/1335453863225205/

What to do next?

  1. Buy the Underspent book, $2.99 or $12.95 available in paperback, e-book, iBook and Kindle formats from all online bookstores and most Dymocks and QBD bookstores as well as Folio Books in Mary Street, Brisbane CBD. Buy a signed paperback copy direct from me via http://www.cyclingrachelsmith.com/buy-the-underspent-book/
  2. BULK BUY SPECIAL OFFER ** During November 2017 purchase 500 OR 1,000 signed paperback copies of Underspent at discounted rates. The perfect corporate or workplace Christmas gift. Phone or email me for more details