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Why spendthrifts spend -- new research about food preferences outweighing cost

Last post 07-08-2009 8:10 PM by jennylyn. 28 replies.
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  • 06-30-2009 9:54 AM

    Why spendthrifts spend -- new research about food preferences outweighing cost

    Dear All, The NY Times today has a story about how folks order at restaurants the food they like best, regardless of cost.  http://www.nytimes.com/2009/06/30/science/30tier.html?th&emc=th  Why spendthrifts spend!  Yours in Him, Deb

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  • 06-30-2009 10:26 AM In reply to

    • Edey
    • Top 10 Contributor
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    Re: Why spendthrifts spend -- new research about food preferences outweighing cost

     Thanks, Deb.  Good article. 

     My newspaper had a similar article about how people are renting things like hand bags, sunglasses, etc. of designer items instead of putting out the money to possess them. They want the experience of using the fancy designer items and looking good with them,  but don't want to have to store or maintain them.  It cited one woman who spends $800.00 a month doing this, renting designer handbags, among other things. Obviously she doesn't need to be frugal if she has that much disposable income. The tone of the article, though, leads one to believe that this practice is being done because of the poor economy effecting everyone - but, oh my, this poor darling must really be suffering if all she can spend is $800. to rent things. 

     Re: chocolates - Hershey's will always be better tasting to me than Godiva, which we sometimes got as gifts from my husband's patrons. Belgian chocolates, though, would never be turned down, especially the creme filled ones. YUM!!!!!

    Edey


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  • 07-01-2009 2:15 PM In reply to

    Re: Why spendthrifts spend -- new research about food preferences outweighing cost

    If I'm eating out then I'm ordering what I want, within reason. If I'm grocery shopping I'll buy less expensive things unless DH has a brand preference.  I can eat pb&j sandwiches at home for a week so I can eat a steak when I go out to eat if I want a steak!

  • 07-01-2009 2:38 PM In reply to

    Re: Why spendthrifts spend -- new research about food preferences outweighing cost

    Interesting. I've never been one for "designer labels" or their cheap knock offs. Too many people all have the same thing and it doesn't reflect individuality. I spent 6 months looking for purse similar to the last one that lasted 15 years. Ended up with a small bag made of distinctive fabric that goes with everything and was only $35 and made from a local company. When it comes to ordering food, I go with what I'm in the mood for, not what something costs. Groceries - it depends. We used to drink those Coffee Mate flavored creamers but when the cost kept going higher and higher, we switched to Half & Half. Recently we discovered the generic brand at Aldi's for the same price & weight as Half & Half. I can afford to indulge more than I do, but I'm not going say I'm happier because I spent a lot of money on something. In fact, I'm more likely to gripe if I think we paid too much.
    Officially Recognized Stretchpert in Stages of Life
  • 07-01-2009 2:51 PM In reply to

    Re: Why spendthrifts spend -- new research about food preferences outweighing cost

    Toni B.:
    Too many people all have the same thing and it doesn't reflect individuality.
     

    I agree. I have never stepped into an Old Navy store because of that. My closet is a mixture. So is my house. I'm a lot more eclectic now. I remember always wanting the "labels" in school but never had it so some of it still lingers but I fight it. (The only way I will really do a label is in shoes, specialty brands have more options when you need it... I'm thinking of athletic/stability shoes.)

     

    I also go for taste when dining out. Though I will take a look at the price before ordering and sometimes compromise, middle ground, where it's good but not as costly. Groceries is where I'm more liable to splurge, since it's tend to be cheaper than going out for something.

     

     

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  • 07-01-2009 3:33 PM In reply to

    • Gary
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    Re: Why spendthrifts spend -- new research about food preferences outweighing cost

    I can't speak for everyone, but it does seem that as long as we're not fighting for our financial lives, that most of us have a few small things that they deem to be worth the extra expense (even if others don't understand). For some people it's food. For others clothing.

    And, even though I often don't understand their extravagance, it's usually foolish to condemn it. Because the spending is happening at an emotional level, not a logical one. So the only way to change that behavior is to touch them on the emotional level (which is pretty hard to do without some spending some serious time with them). 

    So unless they're not feeding/clothing the children, it's probably something that shouldn't surprise us.

     

  • 07-01-2009 4:22 PM In reply to

    • Pat
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    Re: Why spendthrifts spend -- new research about food preferences outweighing cost

    Gary:
    most of us have a few small things that they deem to be worth the extra expense (even if others don't understand). For some people it's food. For others clothing.
     

    I'm sure we all do have things that we pay whatever the price is, because we like/want/"need" it. As the article points out, though, people choose expensive things because they have a perceived value, whether that value is real or not. I think that pertains to all of us in some way or another, whether we like to admit it or not. For instance, I need  Lipton looseleaf tea and it's not easily found. I ordered it online and paid a stupid amount of shipping because I think it's the best. Is it? I don't know... I won't come down off my high horse long enough to find out for sure...

    (But... if circumstances changed drastically, I'd be happy to drink whatever was cheaper. Even water. Wink )

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  • 07-01-2009 5:12 PM In reply to

    • Edey
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    Re: Why spendthrifts spend -- new research about food preferences outweighing cost

     

    Pat:
    I need  Lipton looseleaf tea
    Tea is one thing that has to be good or else it isn't worth drinking it.  I've had cheap generic tea and it was more like drinking brewed tree bark - no flavor at all.  Tea is an enjoyable experience so spending on that is important. It isn't a necessity - it just feels good.  Edey

    Officially Recognized Stretchpert in Hobbies and Crafts

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    Life is like a quilt - it is made beautiful from all the little pieces stitched together.

    Save Electricity! Use a HandCrank!

    READ THE ARCHIVES! It'll do you good.
  • 07-01-2009 5:54 PM In reply to

    Re: Why spendthrifts spend -- new research about food preferences outweighing cost

    Pat:
    I'm sure we all do have things that we pay whatever the price is, because we like/want/"need" it. As the article points out, though, people choose expensive things because they have a perceived value, whether that value is real or not.
    But if something becomes too expensive or perceived as not worth the asking price, people will look for OR create their own alternatives. What's the old saying "necessity is the mother of invention". And the other alternative is cutting something else to accommodate the more expensive items.
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  • 07-01-2009 8:53 PM In reply to

    • Brandy
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    Re: Why spendthrifts spend -- new research about food preferences outweighing cost

    Deborahmichelle:
    about how folks order at restaurants the food they like best, regardless of cost

    That particular one we have done when eating out. BUT...we go to a resturaunt with that in mind and only go if we have budgeted for it.

     

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