Now tell us if this scenario is relatable: you go to the mall or your favorite store, or even the supermarket, your goal was to buy specific things on your shopping list but then you end up purchasing a lot more. Relatable huh? Even we both know you recently read one of our blogs on how you can save money even with rising inflation.
Someone who was just supposed to buy unga ya ugali now adds some pasta into the shopping cart as well as some pasta sauce because it goes well with that pasta you bought, and some yogurt because you’ll need a snack at night? Have we hit the spot yet? Are we speaking to you?
Yeah, we understand, you’re only human.
The interesting part is this issue affects so many aspects of our lives we probably don’t even notice, for example:
This type of consumer behavior has a name, it’s known as the Diderot effect. Which comes from the famous French philosopher Denis Diderot. In this theory, he explains why we want things we don’t need as humans.
In layman terms, the diderot effedt is the introduction of a new possession into a consumer’s existence will often result in a process of spiraling consumption.
Now, this is your assignment go read more in it as we tell you how you’ll master this issue like the champion you are.
As we have always said before the best way to deal with most financial issues is to accept and be aware of the position you are in. From there it is now very easy to come up with solutions.
Observe when you’re about to spiral into a couple of unplanned purchases.
We’re talking about finances. For example, if you want to go to the supermarket with a solid shopping list, estimate the prices, and instead of going with your cards, withdraw that money, go with cash. With this, you’ll avoid purchasing things you don’t require
Go at least a month without buying something new, unless necessary. We always participate in challenges all through the year, like the one we have at Koa the #25-WeekSavingsChallenge, #NoShaveNovember - remember all the challenges on social media during covid times, we hacked them. Why not try this one? We are sure you’ll do well.
There’s more to life than the things you own. You have to remind yourself you are more than the materials that are in your ownership. Your possessions don’t define you or your success in either your career or life in general.
Don’t buy things to impress others! African moms are guilty of this, they purchase cutlery and hotpots not because they need them but because they have better and newer ones than their friends. Don’t join that bandwagon. But this depends on how important they are to you or your household.
Everyone can be a minimalist, if only we choose to look at things from this perspective. Purchase only what you need and remember you are more than your possessions.
In Diderot's words, “Let my example teach you a lesson. Poverty has its freedoms; opulence has its obstacles.”