The world has gone mad. Sorry for long post as I felt it is a strong topic.
Biggest global economic recession ever but I’m reading in the news:
Playstation 5 sold out worldwide on first preorders from day 1. Kids on forums demanding their parents buy them by Xmas and upset because preorder notice was not given.
New Nvidia 3080 graphics card for gaming all stock bought up by bots/scalpers to resell on eBay profiteering for over $10,000+ each
People in panic if same above happens to new Microsoft XBox preorder date next week.
People I know are saying they are struggling to save up to buy above items and iPhone etc. Well not really essential items so why struggle and just skip it?
I’ve had Viki subscription since 2017 and always same monthly price from day 1 of £4 GBP a month. So Viki in terms of entertainment against per hour cost is excellent and got me through past few months especially.
It seems consumerism has really has created higher household debt among younger people than ever.
I read a book called Goodbye Things by Fumio Sasaki. It is about embracing minimalism.
Here is the author at a conference. The book itself has more in depth perspective I adopted to a certain degree. Please support the author if you feel it interests you further by buying his book.
OK I know if we all stop buying non-essential things in retail it damages the economy if people are all saving up and only buying food. But it is about drawing the line and not over buying objects to validate yourself to others, fear of missing out from socia media or buying beyond your financial means.
Below is the most impactful video I saw about S. Korea younger household debt. The poor guy has put himself into such a depressing situation!
Do you feel in control of your spending and manage your monthly outgoings well? How?
Thoughts and experiences from above?