| While we may think only the wealthy or celebrities are | | | | applications and uses now than they did when the |
| engaged in a good old-fashioned battle of | | | | internet was just getting off the ground among the |
| oneupmanship when to comes to having the newest, | | | | mainstream in the mid 90's. |
| most expensive gadgets or items money can buy, the | | | | Even things that aren't viewed as necessities are |
| truth is it happens all around us. You yourself have | | | | seeing increased popularity. Be it expensive home-gym |
| likely engaged in this, whether it was a conscious | | | | equipment, cosmetic surgery, restaurant quality kitchen |
| decision or not. | | | | appliances, cottages, boats and so forth, things that |
| Buying one product over another because of the | | | | were once reserved for the very affluent only are |
| brand name attached to it, and not necessarily for the | | | | now entering the lower income rungs as more |
| increased quality it may possess is just one example. | | | | common purchases as well. |
| You even have found yourself buying something | | | | These trends are not just prevalent in America, but |
| because it was more expensive, when of course it | | | | across the developed work, and even in the |
| should be the complete opposite. We're all naturally | | | | developing world. With emerging economies like India |
| concerned about how others view us though, for good | | | | and China seeing increased levels of wealth, so too |
| or ill, so this practice persists and will likely continue to | | | | are more and more people in those countries indulging |
| grow even worse as we become an ever more | | | | in items that would've been all but inconceivable just a |
| symbol-conscious society. | | | | short while ago. |
| From trying to have the smallest phone among your | | | | Of course this increased spending comes at a price, |
| group of friends, the best lawnmower in the | | | | and that price is the financial well-being of many people |
| neighborhood, or the biggest, flattest T.V money can | | | | and families. This is why tracking daily expenses should |
| buy, all of us are susceptible to the charms of | | | | be done to see where the money goes. Americans |
| outlandish spending. | | | | are more in debt than ever before, resulting in a |
| A 2006 survey called 'Necessity or Luxury' surmised | | | | verifiable credit crisis in the country. Other affluent |
| that items or services that were once seen as | | | | countries are seeing the same thing happen to their |
| unnecessary or fads have now been deemed | | | | citizens as well, as people continue to spend money |
| necessary in the eyes of many Americans. Despite | | | | they don't have on item they neither need, nor can |
| increasing entertainment options and an overall | | | | afford. |
| declining T.V viewing audience, 33% of Americans | | | | Ultimately it comes down to setting your priorities, |
| now viewed cable or satellite T.V as a necessity, | | | | choosing your path and laying in the bed you've laid for |
| nearly double the 17% that viewed it as such a little | | | | yourself. If you need these modern conveniences and |
| over a decade prior. | | | | would rather have them at the risk of your retirement |
| Perhaps not so surprising is the fact that 51% view | | | | fund, then that's a choice. If you want to keep a good |
| P.Cs as a necessity, also nearly double the 26% who | | | | standard of living into your old age, then trimming some |
| though so in 1996. That particular question can be | | | | of the excess fat and doing without all the 'necessities' |
| taken with a grain of salt, as it can certainly be argued | | | | is a necessity in itself. |
| that computers have a near infinite amount of | | | | |