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Friday, 30 April 2010

Guilt At Spending

How many of us have had that guilty feeling -- "Oh, I've spent too much, gaaah!" It happens, and it's a fact of life, and as it happens, there's now a study to prove it. UK's Metro reported that a study conducted on revealed that:

  • 35% of respondents feel bad after excessive spending
  • 59% of respondents feel that shopping no longer offers "retail therapy"
  • 35% of respondents admit to lying about the cost of the purchases to their partners, friends, family, etc.
  • 50% of respondents have stopped buying expensive items unless it is for replacement
  • 11% of respondents are willing to buy more costly, but long lasting, consumer goods

(Read the report: UK Metro, 30th March 2010. Spending leaves shoppers with guilt.)

This strongly indicates that conscience, or some kind of moral compass, is at work. It may be that the dampened economy has raised awareness about the money we spend -- and, surprisingly, the money that we do not spend. It has become fashionable to say that we are thrifty. This may not bode well for a consumerism driven economy, but savings should increase in the following years as people learn to cope with their finances.