Article about the Psychology and Philosophy of Spending

[kuzibah]

http://moneycentral.msn.com/content/Savinganddebt/Savemoney/P107710.asp

A few choice quotes:

The trappings of affluence are no longer limited to those who can afford them. Increasingly, middle-class Americans will pay top dollar just to have the

Comments

I knew people would pick up on the sheet thing

[kuzibah]

Mainly because this has only become a selling point in the last few years. I mean, they probably listed it before, but I can't recall ever hearing anyone say they just bought whatever-count sheets until recently. I have a set of sheets I bought when I got married 14 years ago. They were JC Penney, not the cheapest on the shelf, but not very expensive, either. I don't know the thread count, but I doubt it's 1000. They are still good. Colors haven't faded, no worn spots, elastic still springy, etc. Seriously, they could fall apart tomorrow, and I wouldn't consider they owed me anything, but I expect them to last awhile longer. How much better would sheets have to be to justify a ten-fold price tag? I do a lot of sewing, myself, and admire well-made cloth, but I can't justify $600 sheets when I know a $60 set will last 15 years with care. Does it feel just as soft and luxurious against my skin? Well, no, but it's not like it's keeping me awake, either.

I mean, if the choice were between cheap items that quickly fell apart and expensive items that lasted, then, yeah, go with the expensive ones. But there are well-made, moderately priced alternatives. I think the point of the article isn't that you shouldn't buy a quality item, if the price is justified. It's that people are justifying buying very expensive items when a moderately-priced quality one is available.

Re: I knew people would pick up on the sheet thing

[spikewriter]

Oh, Penney's sheets are definitely not a 1000 thread count, but they're probably 200-300 count, which seems to be the bottom level for respectable sets in the last fifteen years or so. (Showing my age, I remember when 200 ct was the big selling points about 25 years ago.)

Part of the reason I picked up at it was because I happen to have had a set of 100 count sheets, courtesy of my m-i-l. These were -- I kid you not -- used motel sheets that she gifted the husband and I with just after our wedding. We'll leave aisde the fact that when I saw the stamp on the sheets proclaiming them motel property, there was no way I was putting these things on my mattress when I had other sets available, and focus on the fact that these were horribly rough, like the fabric one would use on an outdoor chaise, just not as heavy.

Trust me, if you have an alternative, you don't want 100 ct. We cut the sheets up and used them as rags, btw; it was the only thing we could see doing.

Bringing this back on topic -- I can't justify $600 on sheets either, which is why there are a number of sets I really liked that I've let pass by. However, I can find 600ct sheets places like Overstock.com for $60-$70, so I can get a little luxury and know they should last for a while. (I click past the $500 sheet sets, down from $1200.)

It's that people are justifying buying very expensive items when a moderately-priced quality one is available.

It's substituting flash for substance, and I'm not certain if they're trying to convince themselves they have a luxury lifestyles -- or other people because they need external emotional motivation.