The monkey trap (for humans)

We humans like to think we're smarter than monkeys. But we may be getting caught by a very similar trap.

The future we choose

The book I'm reading wasn't meant to feature here. It wasn't going to be one of my book reviews. I thought it was unrelated - until the subchapter on consumerism.

The author mentioned the monkey trap - a fixed container of food with a hole in the side. The hole is big enough for monkey's hand to enter, but not big enough for a monkey's fist (full of food) to be removed.

So many monkeys are caught because they can't bring themselves to let go. They thought they were holding food, but it was really the food (bait) that was holding them.

At least monkeys do need food

While it's understandable that the monkeys would desire food, our bait seems to be consumerism. It's not even the essentials - it's just things that we are told we need. And we believe it, even if it means we're trapped.

Or in the author's words, "it has become so embedded in our psyche - to the point of being instinctive - that we cannot let go."

In the UK the average person buys 65 pounds (30 kilograms) of new clothes per year. That's not the necessity of clothing. That's advertising and fashion trends telling us to go get more.

Endless wants

"In the 1920s some Americans were concerned that a new generation was emerging that had satisfied its needs".

Kind of sounds a bit like minimalists today.

"President Hoover's Committee on Recent Economic Change in 1929 concluded that advertising was necessary to create 'new wants that will make way for endlessly newer wants as fast as they are satisfied'."

That certainly sounds like advertising today.

In short

The challenge for us is whether we're smarter than the monkey. The monkey gives up its freedom because it can't let go of the bait. Can we let go of the consumerism for the sake of our financial freedom?

Comments

The real cost of owning a car

It's been about 10 years since I've owned a car. My wife doesn't own one either. "You must save a lot in petrol" That's one of the frequent reactions when someone discovers we don't own a car. "Of course, but it's just the tip of the iceberg" is the usual theme of my reply. Many people I've talked to just aren't fully aware of the real cost of owning a car. Or even that there are six different costs of owning a car. Six? Really? Yes. Occasionally a work colleague or friend will boast their car only costs $X per week. Of course it turns out only some factors have been counted. Sometimes it's just petrol alone. To some people, that feels like the only cost they pay each week. Why does this matter? You might be questioning the need for a second car in the household (or even having one at all). Or you might just be choosing which car to get next. Either way, to make an informed decision we need proper information. So let's look at...

How much super will we have?

Will we be OK in old age? How much will we have? One of the great things about living in Australia is superannuation. Our employers are required to pay into an investment account for our retirement. In recent times, my wife and I have been in several conversations with friends who are wondering (or worried) if their balance will be enough. That's what inspired this article. Great question It's a great question to ask, especially around the age of 35 to 40. At that point, old age is less of a distant abstract concept. It's becoming a medium-term reality. At 35 the number of years of living off super is possibly more than half of your remaining years. At 40 you may consider yourself about half way through your working life. Looking at your balance, it's easy to think that twice that balance may not be enough. Read on, because I have good news for you. It's better than you might think As I've mentioned in earlier posts, compound growth means the investment grows f...

Less Clutter More Cash - now available

Do you feel like you have too much stuff? Is your home full of things you never use? Would you like to swap them for cash? We did My wife and I have sold more than 550 items online as we downsize and we've learnt a bit along the way. I've put some of our best tips into this handy ebook. I hope you can use these tips so you too can have less clutter and more cash. Enter your email address below to receive the book for free. Less Clutter More Cash Get my new ebook for free. PS. This will subscribe to the But Wait There's Less email list, so you'll know when the new updated version of the book is available. You can unsubscribe at any time.

But wait... there's less!

Search This Blog