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StitcherHealing your inner child is one thing but giving in to every trending collectible might be saying more than you think, because the truth is, it is affecting your spending! This episode is not to deprive you of the fun, but to help you understand how these trendy (and sometimes irresistible) collectibles have hidden consequences and smart ways of luring you in.
When big things feel out of reach we resort to small things to fill the void.
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Are Collectibles Bad?
In the frugal community, it raises the question of whether these emerging collectibles are inherently bad, not just for our savings but for the way they affect our spending. Jen and Jill think they’re not necessarily bad, but there’s a caveat.
While they connect people and are associated with meaningful stories, the issue arises when we get caught up in the consumption to the point where we succumb to it just because it’s trendy. That’s when, according to Jill, we really need to keep a pulse on it.
How These Collectibles Get All Your Money
Jen explains that these particular trends carry an added sense of value because of their uniqueness and the blind bag or box feature, which creates a surprise element. Meanwhile, Jill sees it as a craving for an instant dopamine rush—because it’s fun and exciting. But to further look into it, here are 3 ways these collectibles get us to spend.
1. Frequency. When something shows frequently enough, our brain translates it to something acceptable because the more we see it, the more we want it, and it’s called the Mere Exposure Effect.
WHAT TO DO:
- Ask Yourself: “Do I actually like this or is it just familiar?”
- Limit your exposure (aka unfollow, mute, or block ads)
- Wait 72 hours before buying anything “trendy”
2. Affordable. For the most part, these collectibles are around 20$ or less, putting an illusion that you can join a trend without second guessing it which creates a damage on the boundaries that you have when it comes to spending.
WHAT TO DO:
- Look back. See where you were 5 years ago to put into perspective where you are or could be.
- Think shorter term. Give yourself permission to use the money if you need it or get scared.
3. Community & Identity. It’s hard to find friends and things to do. But collecting is like a fast track to friendship, to a connection, to an experience of belonging to a community, which is why it’s not inherently bad but collecting can quickly turn into buying friendship.
WHAT TO DO:
- Find a community that doesn’t center around consumption.
- Do a 30-Day No Spend Challenge to find who you are outside of your own consumption (It’s in our book Buy What You Love Without Going Broke).
Childhood Collections
Jen collected turtles but she stopped when she would get random turtles she didn’t want. While Jill would dip her fingers in hot wax and make candles.
Bill of The Week
Thanks Candace for sharing about bank note, peak, william nyt game – connections.
Thanks so Much for Listening!
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Between my two sons, I spent about ten years in a row taking advantage of all the free summer programs at the public library. ❤
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