Object vs. Utility: My Way of Spending Money

Adding up your expenses will not signify the true sense of your consumption

I have been doing a mental trick for the last couple of years. Whenever I get to spend money, I forget the amount to be spent. Rather, I focus on the source of my fund and the utility that I am gonna get from my expenditure.

For example, let’s say I have to travel to Cox’s Bazar from Dhaka. I can commute by airplane or bus – whichever suits me best. For the last 25 years of my life, I would prefer the bus because it costs just $12, whereas the airfare is around $45 for a single trip. In other words, I would value the monetary amount of being 4 times more than anything else.

Actually, that’s the wrong way of thinking, as long as you have the ability to spend. In my case, I can easily afford $45 to buy an air ticket, which will save me 10 hours journey, almost half a day! On the other hand, the 4 times cheaper option often causes other physical problems like nausea or headache as soon as I reach the destination.

Time to onboard!

Well, don’t judge me right now. I am not always on the side of spending more. On the contrary, I tend to spend less when it comes to incurring fewer utility expenses. In my country, we celebrate a religious festival, where buying new clothes has been a mandatory ritual. For me, avoiding buying new clothes has been a ritual for the last couple of years. Eventually, I have developed a clear sense of self utility and contentment. My sense of measuring fulfillment from objective purchases is increasing day by day.

That’s why I try to purchase experience instead of objects. Thailand trip to me is more valuable than a MacBook, as my age-old hp notebook is performing quite well!

A fulfilling life doesn’t depend on objective contentment

To live a happy life, we don’t need a lot of objective happiness. Rather, we need a lot of exotic experiences.

And the definition of exotic experiences varies.

There are people who need a constant adrenaline rush 24/7. They reckon to live their lives to the fullest.

I have seen my mom and dad, enjoying their tranquil daily activities with replete contentment.

I am perhaps a mixture of both. A bungee jump in Nepal attracts me just as much as a quiet evening on my balcony, having a cup of tea. Which one will be preferable depends on the situation.

Experiences are valuable, you can cherish them long inside your heart

Coming back to the point of mental accounting, I have a specific amount of money inside my head that I can spend any time without giving a second thought. I don’t hesitate to pay a rickshaw puller 10 times his wage as long as his utility and sufferings depict a clear picture inside my mind. If you try to spend money on specific objects, you will always be looking for more objects in exchange for less money. On the other hand, if you find the relationship between utility and money, spending money will be a different ballgame for you.

It is quite difficult to get rid of the objective mindset. That’s why the concept of discount is so popular all over the world. People tend to buy unnecessary things on discount thinking that they have saved money on that bet.

Do your mental accounting before spending money on posh objects, you can find much utility in a posh place instead!

Whereas they didn’t need the product in the very first place!

Even I have brought so many things in my life that I have hardly used, most of those are electric items or clothes.

If I really need something, I would not go for discount pricing. If there is a discount, sounds good to me.

But that’s not what I am looking for!