Thu. Jul 9th, 2020

5 Ways People Get Fooled By Celebrities’ Glamorous Lifestyles And Splurge Money Unnecessarily

splurge money

Image Credit: Flickr

Who’s that one celebrity that you’re completely “crazy” about? How influencing are these stars in your life? Do what they do in their private and professional lives affect you emotionally? Do you think they play your subconscious? Do you want to splurge money just because you saw a certain celebrity wearing a certain cloth or jewellery or even possessing a certain bike or car?

While studies haven’t made such revelations, the fact is that the majority of us are suffering from Celebrity Worship Syndrome (CWS). We take our liking for these individuals to an obsessive level that eventually ends up harming our personal and professional lives. (If you haven’t already, give Eminem’s Stan a listen.)

Who’s that one celebrity that you’re completely “crazy” about? How influencing are these stars in your life? Do what they do in their private and professional lives affect you emotionally? Do you think they play your subconscious?

Even when not completely obsessed, many people let celebrities shape their finances. The luxurious and extravagant lives of these popular individuals make successful tempt to sway our own spending habits and lifestyle. In fact, here are 5 ways celebrities mislead our finances with their glamorous lives-

  1. Their earnings complement their expense

They make millions every year. So spending hundreds of dollars every day on breakfast isn’t much of a deal for them. They don’t mind spending on Yeezys. Does your income complement the expense? Is your salary just as grand as your wishes? Sort your earning first before trying to spend like your idol.

  1. They know a thing or two about investment

Celebrities make big money. And they don’t leave that amount rot in their lockers or bank account. Instead, although not many know this, they are really good investors. Be it putting the amount in real estate or the stock market — they know how to let their wealth grow itself.

  1. They are not “always” on holidays

Don’t take their Instagram posts at the face value. They might pose in some of the most exotic locations, but they aren’t always holidaying. Most of the times, they are out in other countries for work. Meaning, the travelling expense doesn’t go out of their pockets. So don’t let their outings make you do the same—they don’t personally pay for it, you will have to!

  1. Their wardrobe is normal—and so are their homes

Not all celebrities spend thousands on their wardrobes and home interiors. Don’t let the tabloids and magazines believe you otherwise. They wear clothes that cost normal and have homes that packs necessary and premium – but not wasteful – items.

  1. They have their spending habits under control

No, celebrities don’t always pop out their cheque books and fritter blindly. They have their spending habits under control. They know what to buy and what not to, when the expense is needed and when it’s totally avoidable. So, in the pursuit to be like your favorite celebrity, don’t go overboard with your spending, thinking she/he does the same.

 

Of course, there are a lot more ways how the obsession for a celebrity might be adversely affecting your personal finances. Take note of such misconceptions and mistakes, and fix them immediately. Be a fan. But be also smart.

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