Companies spend millions on marketing trying to persuade people that spending money on items will make them happy. The reality is, that it often leaves them feeling less happy.
Here is why:
Debt can cause unhappiness
When you buy a new thing, you might feel happy for a little while as you get a swift dopamine buzz. You might have also enjoyed a certain happiness in the lead-up to buying it or receiving your purchase, while you anticipated holding the thing in your hands.
That happiness usually fades fast once you get used to having the thing. Even if you still enjoy driving the new car months after you bought it, it is unlikely to be as much enjoyment as the first time you drove it.
The unhappiness can take over pretty quickly if you cannot really afford the purchase but make it anyway. Maybe it comes the moment you realize you will need to tell your partner how much the thing cost you. Perhaps it comes when the next credit card bill arrives or when the first payment on the hire purchase agreement is due. Or maybe it is when you realize you will have to cut back on spending on food this Christmas if you are to make it through to the New Year without the bank coming down on you.
It is easy to overspend but it can be incredibly difficult to recover once you have done. Unpaid debts grow larger as they acquire interest and late payment fees. Sometimes the only way to escape the unhappiness your debts are causing you is to file for bankruptcy and have those debts erased. Learning more about your options is wise if your financial situation is making you unhappy and does not seem solvable soon.