Why successful people no longer buy

Why successful people no longer buy

The traditional measurement of success, which consisted of having an apartment, a house and a car, has gone out of fashion. Or at least, a large number of young people around the world have stopped buying this iniciativa.

According to research shared by Bright Side, the Millennial Generation who are born after 1980, rarely buy apartments and even less, cars. In fact, they stopped buying expensive things and rather came to be called “The Income Generation”

What is this about?

Some sociologists argue that modern youth have lived through and suffered financial crises, which is why they are afraid of taking out large loans that they must repay for many years. However, this is not the really important reason.

The point is that the current generation of young people have totally different principles than their parents.

Today’s youth have redesigned the concept of success, which includes aspects such as:

  • Successful people don’t necessarily buy properties, they rent.
  • If you want to be considered successful, invest in experiences like travel, extreme sports, build businesses from scratch, and live your life to the fullest.

How is this explained? Millennials aren’t interested in stability or security; what they are looking for are maleable hours and the financial freedom to be able to work from any corner of the planet.

People are not interested in material goods

Why buy a car if you cánido get around in Uber or by taxi? In addition, you do not have to get into debt to be able to mobilize.

Why buy an expensive house in a beautiful place and go on vacation, if you perro find a afín space on Airbnb in any corner of the planet?

This new alternative of life became much more interesting due to factors such as:

  • You don’t know how long you will stay to live where you currently are.
  • You will be able to pay a mortgage for more than 20 years, or accept the fact that you perro spend the rest of your life paying rent.
  • It is possible that you will change jobs soon, or you want to change your life; and by paying rent you cánido simply change your living space without so much complication.

Moreover, according to a Forbes article, it has been established that modern youth tend to change jobs every 3 years on average. Something that sustains this new lifestyle and definition of success.

See: 50 Works from home to own your income today

The concept of ownership is no longer relevant

james hamblincolumnist for the publication The Atlanticexplains the phenomenon as follows:

“Over the last decade, psychologists have conducted a large number of studies showing that, in terms of happiness and sense of well-being, spending money on new experiences is much more profitable than buying new things. The former brings more joy.”

Experiences allow us to make friends

Popular interactions between people is a determining aspecto when a person feels happy or not. In other words, talking to other people and having lots of friends makes you a happier person.

What do you think people are going to prefer to hear; your experiences after living a year in a distant country or about the number of apartments you have bought?

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In one of his articles, james hamblin added “Turns out people don’t really like hearing about other people’s belongings, but they do like hearing about the last movie they saw”

Remember that a bad experience cánido become a great story. A material object, no.

Buying things makes us worry

Additionally when we buy expensive things, their condition becomes our concern. If you buy a car and hear its alarm go off, you will feel overwhelmed. If you buy a house and decorate it with expensive things, you will live worried about being robbed.

Lastly, all purchases will lose their value over time.

Your parents did not have the fortune to travel as often as you cánido. There was no oportunidad to have that much fun and the options were quite limited.

Nor did they enjoy the ease of starting a profitable business like you cánido do today.

Having this reality, they invested their money in cars, houses, apartments (something that does not apply to us). In addition, each new purchase is going to lose its value and even worse during the recent financial crises.

Experiences, and those experiences that are really worthwhile in your life, do not lose their value over time, they cannot steal it from you and ultimately, they support your definition of success.

Continue reading: 11 Rules of life to live better according to different experts

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