“What are you a slave to right now?”

How many times have you bought a new dress but felt like you didn’t have anything to go with it? Even if that dress was a great deal, when you consider the shoes you bought to go with it, the earrings to match, and all of the other accessories it wasn’t cheap.

Don’t worry though, you aren’t alone. We’ve all been there. In fact it’s so common there’s a name for it that psychologists use: The Diderot Effect.

Society trains us to be over consumers. We are taught that we need look our best, to have things that show us off.

All it takes is a simple shift in your mindset.

When you purchase something, think about if you really need it. Will it really change your life forever? Is it something that you really needed yesterday, a year ago, or even ten years ago? Is it something you will use over and over and over again and day after day or is it just a temporary high?

If the answer was no to any of those that means you probably don’t need it.

You work hard for your money, and you should keep it. Don’t let spontaneous decisions take away from your wealth.

If you aren’t sure, go home and sleep on it. If you still feel you need it the next day you can always go back and get it. And if it isn’t there, then the universe is sending you a sign that you didn’t need it.

On this episode of Redefining Wealth we explore the Diderot Effect, and ways you can avoid the pitfalls of over spending.

Download this episode today and learn ways you can avoid running yourself, and your wallet, ragged.

“We buy things our previous selves didn’t need to feel happy or fulfilled.”

The Cliff Notes:

It’s tempting to overspend on things we don’t need and people don’t want.

Most people really just want our time.

It’s common for us to make one purchase that leads to more in accessories that we don’t need.

This is known as the Diderot Effect

If you buy something, give something away.

Don’t allow yourself to be a slave to stuff.

Buy things to be worn over and over again.

Get pieces that fit into what you already have.

View the show notes, links, and other resources at PatriceWashington.com/Listen