4. Don’t Shop For The Sake Of It

The society we live in is very much materialistic and at times to maintain the status symbol, people just spend money in out or the ordinary way. They shop for high-status items and make some expensive purchases to satisfy the ego.

A study conducted by Niro Sivanathan, assistant professor at the U.K.’s London Business School says that more people tend to purchase things that are eye- catching so that they can show to others that they are financially stable and feel complete from inside which they are not. It was also found out that the purchaser gets happiness in purchasing these expensive goods.

Maintaining the status is not an offensive act, but forgetting one’s ability to spend money and living an extravagant life is not at all advisable. It not only makes people an impulsive buyer but also they are not able to save money for actual crisis situations.

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