20 Reasons Why We Spend Money

So why exactly do we spend our money? What is it that motivates us to finally part with our well earned cash? For some of us, we would probably give a few answers to this question and for others, perhaps we would have to think a little harder. Below is a list of 20 reasons that directly influence our pocket or credit card positioned in no particular order.

Zimo Zimo Peter Hopwood | 04.10.2010. / 10:20

20 Reasons Why We Spend Money

So why exactly do we spend our money? What is it that motivates us to finally part with our well earned cash? For some of us, we would probably give a few answers to this question and for others, perhaps we would have to think a little harder

Kao vlasnik Libris komunikacija i voditelj edukacijskih programa u Velikoj Britaniji i Hrvatskoj, Peter donosi dodatnu vrijednost u ZIMO kroz nove marketinške i komunikacijske ideje, alate, naputke i praktične savjete.

Below is a list of 20 reasons that directly influence our pocket or credit card positioned in no particular order.

1. To show we love someone

2. To protect our family

3. To simply make more money

4. To save money

5. To look younger

6. To feel a sense of belonging

7. To avoid criticism

8. To avoid trouble

9. To copy what our neighbours are doing!

10. To buy friendships and trust

11. To feel special

12. To escape or avoid pain

13. To become more efficient

14. To avoid effort

15. To communicate better

16. To own things of beauty

17. To attract praise

18. To increase enjoyment

19. To make their work easier

20. To show power

During a training session I asked the same question to a marketing team. Surprisingly, the discussion produced the majority of these 20 ideas and a lot more! It’s true to say that we do spend money to make ourselves look younger in terms of makeup, changing our hair colour or even plastic surgery. Thinking of younger consumers made me suggest that we spend to feel a sense of belonging – fashion trends, forming an identity group or simply wearing the same sports shoes as everyone at school! Also, by paying someone to do something you don’t want to do or maybe don’t know how to do are both valid reasons for spending money. After reading and deciding if you agree, think about it and ask yourself 'why do I buy?'

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