http://www.washingtonpost.com/wp-dyn...032103817.html
Quote:
"You would expect logically that the borrowing and spending of money would be emotionally painful to people because having money is intrinsically a good thing, and having less money would have to be worse," he said. "Going from more money to less would be painful."
If only that were true.
"When people borrow and spend money, it's really the reward centers of the brain that become activated."
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See, it ain't like that for me. Spending money actually causes emotional pain of an intensity sufficient enough to cause physical symptoms, most notably increased body temperature and agitation. LiQUiD can attest to this.
Putting money into savings and stocks, on the other hand, is relaxing. I actually put over 45% of my after-tax income into investments or savings. I like watching money grow. It's peaceful.
I think my state of mind is more conductive of financial success than feeling rewarded while spending money.
My guess is feeling pain or pleasure at buying things is more or less a learned behavior. Everyone feels good at acquiring a new thing, of course, and on things I really want I'm willing to put up with the pain of spending money to enjoy the pleasure of having something new. But these choices are the exception, not the rule.
For the most part I choose not to buy that mocha because the pleasure it grants ain't worth the pain of parting with $5. I live frugally as it's simply more comfortable overall.
If you're an individual who doesn't experience pain while spending I think I can help. For FREE I'll follow you around with a cattle prod and branding iron to re-enforce the emotional pain of spending money ^_^
I don't think I have a problem with spending but having you following me around with a cattle prod would totally be worth paying 'free!'
Really though, if I like what I am buying and feel it is worth the cost, I'll buy it. I'll also buy things that appreciate over time, like corals for my reef tank. I also put my money into investments and have already started saving for retirement. Granted 6 grand isn't a lot but it's more than most 21 year olds I know.
I wish I'd started earlier :/
Purchases i make tend to be a rather big ordeal, spending hours trying to find better deals, and its actually quite an awful process. Then theres trying to determine if i really need what im buying, or if i just want it, and can do without. Everything i end up with, with the exception of a very, very few items, tends to have a very high value per cost ratio, whether that relates to food, or computer parts. Im not one to spend frivolously, and pretty much everything bought is calculated against the cost versus pleasure return.
I can only hope I don't turn into a spend-a-holic, which I think I would if I had enough money.