The idea for this post came after I watched an episode of Rich Kids of Instagram. I don’t watch much television—I usually only watch a few hours a month since we don’t have Netflix, cable, or local channels—but I stumbled on this show and got pulled in.
These people are extremely wealthy, yet the show mainly highlighted spending money to impress others. My recurring thought while watching was: why do people care so much about stuff?
While watching, I was often stunned. It’s astonishing what people spend their money on, the lengths they go to flaunt wealth, and how far some will chase material possessions. Some of them might actually be happy, but that doesn’t seem to be the norm. More importantly, it shouldn’t be the norm for the average American.
As a personal finance expert, I’ve met too many people whose lives are dominated by material possessions, and I want that to change. Letting things control you can hold you back in many ways: it can create anxiety and stress and trap you in a cycle of debt.
Of course, buying things sometimes brings joy, but unnecessary material possessions rarely provide lasting benefit—especially if you can’t afford them. Almost daily I receive emails asking why I don’t have pictures of myself on a Ferrari or wearing “nicer” clothes. Someone even told me they couldn’t trust my advice because my Instagram isn’t filled with fancy sports cars.
Ferraris and luxury items are fine if that’s your preference, but they aren’t my life. Expensive cars, watches, or designer clothes don’t inherently make life better than anyone else’s. I live on a beautiful sailboat and could afford more expensive things, yet I choose a simpler life because it brings me happiness. I don’t buy things simply to buy them.
Buying to keep up with others is a dangerous financial habit. Many people aren’t realistic about their income and spending, and letting possessions dictate your choices can derail meaningful financial goals, such as building an emergency fund, paying down debt, or saving for retirement.
There are countless examples: people wanting a bigger house, a larger engagement ring, waiting in line for the latest phone, or spending a whole paycheck on an outfit. But are these needs? Are they worth risking your future? The answer is no.
I’m not saying you can’t enjoy nice things. I’m saying you should be realistic about your income and spending and recognize that material things won’t always deliver happiness. For most people, security and stability produce greater contentment. Chasing material goods distracts you from what truly matters.
Living simply can bring more happiness and freedom. That means spending within your means, focusing on long-term goals, and embracing a bit less. If you’re frustrated by a materialistic culture and want the freedom simplicity offers, consider asking yourself the following questions.
1. Are there things you could live without?
Look around your home and identify what you truly need. Much of what we own is there because we wanted it at some point, and that can create both physical and mental clutter. When your lifestyle is driven by material possessions, you often buy for the sake of buying. But do those things really bring lasting happiness?
When we downsized to move into our RV, letting go of unused items felt liberating. I realized I’d been attached to possessions for too long; getting rid of things freed me. You don’t have to downsize dramatically to benefit—decluttering alone can simplify your life and yield many advantages.
Decluttering can lead to:
- Saving money. The more you own, the more you spend on maintenance, repair, and replacement. Fewer possessions mean lower costs, and you can even make money by selling items you don’t need.
- Really using what you have. With fewer things, you’re less likely to forget what you own or buy duplicates. Living with less makes it easier to use and appreciate what you have.
- Being mindful about spending. Recognizing how little you need often makes you more careful with money, allowing you to focus on more meaningful priorities like paying down debt and saving for retirement.
Once you declutter, you might choose to downsize your home, saving even more. Larger homes cost more to heat and cool, carry higher insurance, and require more maintenance. Smaller homes can reduce temptation to fill empty rooms with more stuff.
2. Why are you wanting to buy certain items?
If you’re buying to impress others, you aren’t prioritizing your own happiness. There will always be people with more and always be new things to buy. That constant comparison prevents true happiness because it lets others determine what should make you content.
Ask whether you truly want an item for yourself or to gain approval from others. If you struggle to understand your motivation, wait 24 hours before buying. That pause gives you time to decide whether the purchase is meaningful or simply an attempt to impress.
3. How does wanting more stuff align with your financial goals?
If you can’t afford something, you shouldn’t buy it. It’s that simple. Before any purchase, consider how it will affect your financial objectives. For instance, if you’re considering a $200 pair of shoes, ask what else you could do with that money: pay down debt, add to your emergency fund, or start investing.
I’m not saying you must never buy something you want, but always ensure it’s affordable. Going into high-interest debt to “afford” a purchase can ruin your finances. Sometimes waiting a little longer or finding creative ways to earn extra money can help you fund a desired purchase without jeopardizing your goals.
Prioritize your financial goals over others’ expectations. If you haven’t set goals yet, start now: clear objectives help guide spending decisions and lead to financial freedom.
4. Do you really need the item?
This may sound obvious, but many people skip this crucial question. When facing a purchase, dig deep to determine whether it’s a true need or simply a want. Wants aren’t bad, but they should be weighed against your budget and financial situation.
If you’re living paycheck to paycheck, carrying high-interest debt, or lacking savings, it’s wise to avoid large splurges and stick to essentials. Prioritize your financial health first; discretionary purchases can wait until you’re in a more stable position.
Are you aware of the things you buy? What are your thoughts on the materialistic culture we live in?