How many of your recent purchases have been influenced by your thought of someone admiring you? Quite a few, I’m sure, since so many industries thrive on people wanting to signal higher status.
Just think about clothing or cars.
Yes, we need clothes. But who needs Prada?
Cars revolutionized how we move from one place to another. A car has the power to make people’s lives better. But who needs a Bentley for any other reason than impressing others?
We’re paying big money to participate in status games that make us miserable. We get the occasional feeling of being above other people, but for the price of working more and feeling worse when we see someone else with better stuff. You decide if it’s worth it.
Of course, most of us don’t admit caring about impressing others. It’s easy to justify luxury clothes with better comfort and higher quality and a car upgrade with safety. Businesses, of course, know this. They know you buy for status but need logical reasoning to defend the decision.
Eliminate ego from your buying decisions, and notice yourself having more money in the bank and becoming more content with life.