Purchase Decision - 2

In short, I believe that the reason why we live materialistically is because we don’t know how else. We don’t know how to flex in non-material ways, nor do we know what other virtues are desirable. We simply do not know, or know, but do not know how to obtain them. To be basic, I’m going to blame the marketing companies on this. Material things don’t really have intrinsic functionalities other than their intended functions - cars move people, diamonds are hard rocks, and so on. However, advertisements try to imbue meaning, a higher meaning to the physical products. Diamonds started to symbolize eternal love, and cars a status, and a philosophy (you drive a Volvo? You must be a really responsible person) attached to them. Due to these carefully crafted `campaigns’, we now view these `things’ as something a lot more than they actually are. However, this doesn’t change the fundamental fact that they are just things. Despite this, we expect to obtain the mature luxury of George Clooney when we buy a Nespresso machine, we expect our marriage to last forever with a diamond ring, and we expect to gain our mother’s unconditional love back when we buy her flowers for mother’s day. However, the reality is not the case. Nespressos make a disturbing noise, and diamond rings are often resold. But we just don’t know any better - and continue to hope that purchases will bring us happiness. In another example, all our holidays and meaningful days have turned into consumeristic sprees, where our higher concepts - such as gratitude and love - have been reduced to pre-generated cards, and lists like `top 10 gifts to get your dad’. We effectively outsourced the most humane part of our humanity into the hands of retail. 

 

Unfortunately, we are rarely taught about other ways to fill our void. Purchasing is becoming easier and easier, and even though we know we spend too much on useless things, we just need our dose. It’s tough. Hopefully this book will give you more ideas, but that’s for later. Let’s keep talking about money.

 

What else can we do with money that is more sustainable? I personally took in the philosophy of investing all that money. That’s my BMW, that’s my Supreme. As stupid as that sounds, I find joy in saving and watching that money grow, a lot more than having fancy things. Of course there is a stress associated with investments, especially in volatile markets (That was definitely the case when I invested all my money on cryptocurrency). However, generally, investing money and seeing it definitely feels better (for me, in the longer term) than seeing an expensive car.

 

Maybe it is my upbringing, or my minimalistic, buddhist philosophy, but having expensive things stresses me out. It causes anxiety. One of the core philosophies in Buddhism is that pain and suffering come from wanting, having, and obsessing over impermanent things. Mostly everything is impermanent, and contrary to what we believe, having things causes suffering because we then think about it. In the words of the immortal Notorious BIG, Mo Money Mo Problems.

 

For example, I wouldn’t enjoy having a Maserati, because I’d be stressed out thinking what can happen to this car. I would be thinking about the insurance, maintenance costs, and the possibility of someone stealing it. I would also be thinking about different ways I can spend the money, for something less vain. That’s actually what happened when I bought my new car. I would look out the window, just to make sure it wasn’t parked in a risky location where people scratch it. Of course you can argue that I can make enough money to the degree where I don’t have to worry about losing a Maserati. That is absolutely right, and I think that is the key strategy we have to take. It’s all about control, you see, to take control back to yourself, from mindless, unsustainable spending fueled by advertisements, from the vanity of the world, from bills, all back to you. You become more laid back and comfortable. The goal is to take back control, so you’d have less anxiety (this will also be explained later). If I were to live below my means, everything would be less stressful. By owning something less expensive, the potential costs that can incur is a lot less. Just think of insurance, the more expensive your car / property is, the higher the insurance premium is. I would be stressed if my Honda Civic had a problem, but it would be manageable because:

1. The cost probably isn’t that large

2. I would have saved money from having a car below my means

So I wouldn’t stress too much about having a Honda, compared to having a Mercedes. There’s just a lot more robustness built into it. I am a lot more in control.

 

Another concept I think about before a major purchase decision is: will this continue to provide value and goodness in my life? Things mostly tend to depreciate, both in market value and in our minds. So one thing to consider is how long that purchase is going to hold up its value through time. I think generally, if we have more commitment issues in purchase as for our relationships, we’d be much better off.

 

I know it’s a lot to think about, since things are so readily available, and so affordable. But I think what’s important is the attitude, the approach we have to things - the belief that things are what we identify with, that, things are, unfortunately to some degree, what makes us who we are. Because the more we obsess over things, the less we care about other, more important, possibly more enriching things. There is a minimalist saying that goes something like: ``Love people, and use things. The opposite never works.’’