A recent post comment got me to thinking about how so many people today are truly “owned and consumed by their possessions”, as recently stated by an observant M.S.B. Reader. This ‘condition’ is arguably one of the core root causes attributing to the high stress of modern day life.
Don’t get me wrong. Who wouldn’t like to have more than just the necessities of life, or bigger and better versions of those same necessities. Who wouldn’t enjoy having nicer ‘toys’ to play with. In fact, there is absolutely nothing wrong with the possession of such things in my opinion, provided that you are not owned or consumed by them!
Here’s what I mean…
A possession that owns you may mean that you owe someone or some institution to have possession of that possession. You have it, but don’t own it, and are under contract to pay for it under the agreed terms. Therefore, the possession really owns you.
You are consumed by a possession or possessions when it or they expends you, or uses you up. How? By either the debt that you owe for it or them, or by the emotion, ‘greed’, – the ‘keep up with the Joneses’ syndrome.
For whatever reason, probably my upbringing, I have never been overcome with the emotion of ‘keeping up with the Joneses’, or the mentality of leveraging nearly everything I earn so that I can ‘appear’ to own possessions that are beyond my means. As I have lived life, I have been astounded at the acceptable notion of many that are younger than me, that it is OK and normal to leverage what they earn to purchase possessions that are way beyond their means.
Some may argue with me that this is a ‘bad thing’, since they are perfectly capable of paying their debt each month when the bills come… however they are missing a few extremely logical and important points. What are they sacrificing for having these possessions now (rather than later – or at all), and what if their ability to earn the required sum to pay the bills is taken away from them.
The point is, when you owe, you are a slave, even though you may not feel like it right now. I just heard a news report today that many Americans will now have to ‘work’ into their 80’s before they can retire! Are you kidding me?? What kind of retirement is that???
It used to be that people would live within their means, meaning they would not borrow more than what they knew they could pay off in a reasonable time. Better yet, save the money, forgo the instant gratification of having it now, and pay cash for it later. No debt, and therefore not a slave to the system.
When borrowing money, the interest you pay on that money, over time, will amount to an extraordinary sum… a sum which could have been in your pocket instead.
Don’t fall victim to feeling like you have to keep up with your friends or neighbors who have nice things in their possession. Just know that most of them really don’t own them, and are sealing their fate by burdening themselves with excessive debt and a long life of slavery.
Instead, just smile, and know inside yourself that you will likely build real net worth by simply remaining frugal and happy with the things that you can afford. Your life free of debt will be truly rewarding, and you will have a reasonable chance of retiring at a reasonable age.
…just a thought
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I consider that for most people today their cell phone owns them. They drive while texting and cause accidents. The phone has such control over their lives that they cannot put them down even as they take risks to use them. I have walked out of a business where the person who is supposed to wait on me is on the phone and typically took the call after beginning to sell me something. A women was kicked off Amtrak recently after talking loudly for 16 hours on her cell phone. I do have a cell phone. It is off and is usually off. I turn it on every now and then, perhaps two, three times a week. Sometimes I actually use it but it NEVER controls my life.
Sadly, my damned computer is different. I use it for hours everyday. I do rationalize by pointing out that I use the computer as my library, my classroom, my entertainment. But sadly it does “own” me…
I’m with you regarding the computer. But yes, it is rationalized because as you say, it is ‘my library, my classroom, my entertainment’, and my livelihood. In moderation though – everything in moderation.
“The things you own, end up owning you.” – Tyler Durden
Isn’t funny that these yuppies that have got to have “everything”, have got their garage full of stuff that they just had to have and now never use because they have been told there is new “stuff” for them to buy and own! They can’t even park their cars in the garage because it’s packed full!
Me, i”m downsizing, besides when the shtf and you have to travel, guess what gets left behind.
And doesn’t it amaze you that these people have to have designer clothes, shoes, etc. Women will pay 1200 to 1500 for some designer purse, I could buy a new Weatherby rifle and ammo for the same amount of money.
It is an amazing mindset, yes… spending so much money for name-brand or vogue items. I have also known people who pay hundreds of dollars a month to rent storage space because they have so much stuff. Lauren and I have been actively downsizing for a few years now – little at a time. Unless something has sentimental value, if we haven’t used it within a year, we try to rationalize getting rid of it, unless it’s something like camping supplies, prep items, resource items that will serve us later in time, etc…
It’s amazing how much clutter and non-practical items that people purchase over the years.
How true! So much of it is to impress others, or to keep up with the Joneses, so-to-speak.
To some people a designer purse is a commodity. After the initial shift, as things stabilize people will once again look to distinguish themselves through their appearance. The scarcity of designer items will likely make them tradable, especially with someone who has a plentiful supply of another item to be traded. If I have a surplus of milk from my cows, the only cost of trading milk for a designer item is the opportunity cost of not trading for something else, but if there’s nothing else to trade for, then unless I know how to make cheese, my milk will be wasted. The value of a designer purse will be then as it is now, its scarcity…whether artificial (now) or real (then).