41 Expenses That Ignore the Economy

Following an answer I gave just recently on MarketingProfs about the economy and the things that impact people’s spending habits www.marketingprofs/ea , the questioner asked me to expand on a point I’d raised, which was this:

“What other factors BESIDES the economy influence your target group to either spend or save money?”

So, here’s a laundry list of other factors, any of which can influence people’s spending habits. 

  1. Job loss, personal bankruptcy, or personal business failure.
  2. Starting a new business.
  3. A new job that requires a new wardrobe or a major move across town.
  4. A house move (moving up or down sizing—think “Empty nesters”).
  5. A house loss (foreclosure, fire, storm, or major flood damage e.g. Hurricane Katrina).
  6. An accident that requires long term medical care (with its inherent health insurance issues).
  7. An accident that requires the write off of a car, generating a new car purchase.
  8. Dental care.
  9. Other elective or cosmetic surgery.
  10. The desire to get in shape (buying weight loss or fitness equipment, a home gym, an exercise bike or treadmill).
  11. A new baby or family member (parents moving in, adult children moving back with Moms and Dads).
  12. A new dog or cat (vet bills, food, care).
  13. A new hobby, interest, or social activity (bowling, dance lessons, golf, tennis, Weight Watchers®).
  14. A one car family becoming a two car family and vice versa (with associated costs or savings).
  15. A sudden windfall, lottery win, or inheritance.
  16. An unforeseen tax bill or major expense or repair.
  17. The loss (death) of a close family member: husband, wife, child, parent, and associated funeral expenses.
  18. Divorce or separation.
  19. Being sued
  20. Winding up in court for some other reason.
  21. Moving in with a significant other (or moving out).
  22. Marriage (two households rolled into one, and all the expense of getting married).
  23. A major vacation.
  24. Major gifts for Christmas, other religious holidays, birthdays, anniversaries, weddings, engagements, and graduations.
  25. A family celebration (Thanksgiving).
  26. Throwing a party … just because.
  27. Throwing a party for a sporting event (Super Bowl)
  28. Going back to college (for an adult), or going to college for the first time for a recent high school graduate.
  29. Major or minor home repairs such as painting, decorating, or new appliances.
  30. Joining a new community, meeting new friends (creating the “need” to keep up with the Jones’s).
  31. New glasses or contacts.
  32. Lasik® surgery
  33. Entertaining business associates, clients, friends, or customers.
  34. Running for local, regional, or state office.
  35. Addiction to or rehabilitation from drugs, alcohol, gambling or other money pit-type activities.
  36. Obsessive compulsions: shopping, food, sex, etc.
  37. Teenage pregnancy.
  38. Daycare and pre and post school requirements.
  39. Additional tuition and private lessons for any number of subjects.
  40. Any regular beauty regime: spa treatments, hair, nails, make up, etc.
  41. Going into rehab.

And this is just for starters.

Generally, it’s called “life”.

It all costs money, and often, very little of it is connected to what’s going on in the economy. People still eat out, they still buy groceries and gasoline, they still go to the movies and the theatre, and they still travel—for business, pleasure, for both, and because they can. 

Feel free to add to the list.