How to Join
the Fashion Spot / the Finishing Touches / Shop Till You Drop
FAQ Calendar Search Today's Posts Mark Forums Read Rules Links Mobile How to Join
Reply
 
Thread Tools Display Modes
07-07-2008
  1
girl who fell to earth
 
ChrissyM's Avatar
 
Join Date: Apr 2005
Location: Boston
Gender: femme
Posts: 18,589
Splurging is Good for Your Health
A friend just sent me this article from the Wall Street Journal "The Wealth Report"

I thought it was something my fellow tFS-er shopaholics might appreciate :p

Interesting topic I think...

I can't think of any splurges that I really regret...

Quote:
Splurging Is Good for Your Health


Buying overpriced indulgences may feel good in the short term, but you pay the price later. Or at least that’s the conventional wisdom.
But a study by a couple of business-school professors says splurging now makes you happier later. Even more surprising: Not splurging now gives you pangs of regret later.

Anat Keinan, an assistant professor at Harvard Business School, and Ran Kivetz, a professor of marketing at Columbia Business School, make their case for the vice lifestyle in an article in the Harvard Business Review.
One of their studies polled college students and alumni on the subject of spring breaks. Regret about not having spent more money or traveling during breaks increased with time, whereas regret about not having worked, studied, or saved money during breaks decreased with time.
The authors write: “We saw a similar pattern in a study of how businesspeople perceived past choices between work and pleasure. Over time, those who had indulged felt less and less guilty about their choices, whereas those who had been dutiful experienced a growing sense of having missed out on the pleasures of life.” (As the old saying goes, nobody dies saying “I wish I’d spent more time at the office.”)
The authors also did a study of mall shoppers, asking about their regret about buying an expensive item of clothing. Those who anticipated short-term regret bought less-expensive items, while those who anticipated long-term regret splurged. “Thinking about short-term regret drives consumers to be virtuous, while thinking about long-term regret leads them to be extravagant,” the authors write.
Luxury-goods makers, of course, will eat this up. I can see the slogan now: “Luxury: It’s Good for Life.” Or “Cartier: You’ll be sorry you didn’t.” Whether luxury is good for your finances is another matter. (Nobody goes bankrupt saying “I wish I’d spent more on Gucci bags).
Wealth Report readers, what do you think? Do the long-term benefits of indulgence outweigh the short-term risks of regret?
http://blogs.wsj.com/wealth/2008/07/...r-your-health/

  Reply With Quote
 
08-07-2008
  2
oh! darling
 
papa_levante's Avatar
 
Join Date: Dec 2005
Location: at the bottom of everything
Gender: femme
Posts: 18,373
My father reads a lot of psychology journals online, and he read one that said compulsive shoppers know that they have no control over what they buy but they buy anyway.

This article reminds me of that.

__________________
i'd rather live it 'cause dreamers always chase but never get it............................... sam ypma
  Reply With Quote
27-08-2008
  3
V.I.P.
 
snowqueen's Avatar
 
Join Date: Jun 2004
Location: London
Gender: femme
Posts: 6,321
i know personally if im feeling down or in one of my depressive moments a good shop makes me feel 100x better i know it will give me a buzz for weeks a massive spree .. if im feeling down for no reason i know its because i need a shop haha .. ok maybe thats jsut me .. and i think i hve a problem with shopping haha

  Reply With Quote
28-08-2008
  4
front row
 
baRose's Avatar
 
Join Date: Jul 2005
Location: Bay Area
Gender: femme
Posts: 371
I wonder who their audience or was. Is Discover Card behind this?

__________________
Twitter
Facebook
  Reply With Quote
30-08-2008
  5
tfs star
 
chaneladdict's Avatar
 
Join Date: Sep 2004
Location: Oheeo
Gender: femme
Posts: 1,524
^ haha seriously..I usually feel more guilty IF i buy something and happier when I resist!

__________________
"Life is a joyful strain. Can you hear it resound?"
  Reply With Quote
31-08-2008
  6
flaunt the imperfection..
 
softgrey's Avatar
 
Join Date: Jan 2004
Location: downtown...
Gender: femme
Posts: 50,643
i couldn't agree more actually...
i am always the one who is very sensible..

even though i do splurge...it;s nothing compared to some people i know..
*we are talking about fashion industry people after all......

and i have to say..
my friend who splurges the most and is the most in debt is one of the happiest people i know...
...

and i am often regretting that i did not buy that chanel bag or dries shoes or whatever...
or the DAMN ann demeulemeester wedges.........


...

* i just splurged on some fabulous sunglasses and i could not be happier!..
i was in such a good mood actually that i went and bought some more stuff..
(but that stuff was on sale......)

__________________
"It is not money that makes you well dressed: it is understanding."
ChristianDior




Last edited by softgrey; 31-08-2008 at 09:17 AM.
  Reply With Quote
31-08-2008
  7
once more, with feeling
 
quimby's Avatar
 
Join Date: May 2005
Location: upstate new york
Gender: femme
Posts: 1,077
when i saw the thread title, i rolled my eyes. but as i read the article, it kinda made sense. as my friend once said, you regret more the sins of omission than the sins of commission.

__________________
Notes to a Mouse
  Reply With Quote
31-08-2008
  8
fashion insider
 
rollagasper's Avatar
 
Join Date: Aug 2005
Location: Ontario, Canada
Gender: femme
Posts: 2,441
I think splurging can indeed be a good thing, but there has to be a balance to everything. Randomly splurging on things and not thinking it through might lead to a rush of regret later, but if you really covet an expensive, over-my-budget item, then I think it's great to invest however much it may hurt your bank account. I've regretted waiting to buy certain designer pieces and then get mad at myself when my size sells out.

  Reply With Quote
31-08-2008
  9
front row
 
baRose's Avatar
 
Join Date: Jul 2005
Location: Bay Area
Gender: femme
Posts: 371
^^

This is true with me, especially with shoes since my size sells out so fast (US 10). I am holding out on certain purchases (including eating out at work so much) so that I can buy a handbag in a couple of months. I know I wont regret that spurge (at least I hope not ).

Using credit cards that I dont plan on paying off the next billing cycles or not really thinking about the purchase will lead to regret.

__________________
Twitter
Facebook
  Reply With Quote
31-08-2008
  10
fashion insider
 
rollagasper's Avatar
 
Join Date: Aug 2005
Location: Ontario, Canada
Gender: femme
Posts: 2,441
^Yeah, I buy what I really want, but stop before I get to the point where I can't pay off my credit. And good luck saving up for the handbag - I think it'll be a great investment. If I worked hard, waited and saved up for a big splurge, I never feel guilty.

  Reply With Quote
02-09-2008
  11
Iowa Girl Loves Fashion
 
Erin's Avatar
 
Join Date: Jul 2002
Location: Omaha, NE
Gender: femme
Posts: 14,665
Quote:
Originally Posted by softgrey View Post

and i have to say..
my friend who splurges the most and is the most in debt is one of the happiest people i know...
...

As far as I'm concerned, being in debt is nothing to be happy about...

Perhaps it is how I was raised. Live within your means. Especially if a huge financial issue may arise.

This article made me laugh, really.

  Reply With Quote
02-09-2008
  12
front row
 
eeyore's Avatar
 
Join Date: Apr 2006
Location: la la land
Gender: femme
Posts: 212
what a ridiculous study

  Reply With Quote
04-09-2008
  13
girl who fell to earth
 
ChrissyM's Avatar
 
Join Date: Apr 2005
Location: Boston
Gender: femme
Posts: 18,589
splurging occasionally within reason can be healthy i think...
and enjoyable :p

when you splurge constantly and get yourself into debt.. that's when it becomes a problem..

but i have to say i enjoyed the article and i thought it brought up some good points..
which is why i chose to share it to begin with


  Reply With Quote
20-09-2008
  14
rock-chic
 
Feline's Avatar
 
Join Date: Jun 2002
Location: York/Lincoln, UK
Gender: femme
Posts: 2,170
I think having a good shop is a real pick-me-up, especially when i pick things up in sales, charity shops or can use discount vouchers. It's another thrill when I get home, unpack my bags & look at all my lovely new things. Of course, the best bit of all is the actual wearing/using them, feeling confident & good, and hopefully getting positive feedback from other people

__________________
Empancipate yourself from mental slavery; None but ourselves can free our minds (Bob Marley - Redemption Song)
  Reply With Quote
Reply
Previous Thread | Next Thread »

Tags
good, health, splurging
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

monitoring_string = "058526dd2635cb6818386bfd373b82a4"


 
All times are GMT -5. The time now is 06:12 PM.
Powered by vBulletin®
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
TheFashionSpot.com is a property of TotallyHer Media, LLC, an Evolve Media LLC company. ©2014 All rights reserved.