As humans, we often like to think of ourselves as logical, rational beings. We imagine that our choices are based on careful reasoning and sound judgment. But let’s be real—we've all made some pretty irrational decisions at times. Think about it: have you ever bought something just because everyone else had it, or stuck to buying a product from a popular brand because, well, it’s popular? We assume it must be good if so many people are buying it, right? I’m definitely guilty of this myself. About a year and a half ago, I bought a pair of glasses from a pretty popular brand. The quality of the frame turned out to be so poor that they became unwearable after just a couple of months.
A great example of this kind of behavior is the huge surge in iPhone purchases in India, especially among teenagers. Since 2021, there’s been a noticeable spike in the number of teens owning iPhones, whether brand new or second-hand. Many of my friends and classmates have one, and sometimes, I feel like I'm the only one still holding onto an Android. Sure, some people genuinely appreciate the product for its features and can afford it, but let’s be honest—does everyone actually need an iPhone?
The truth is, our decision-making is heavily influenced by factors like social media, peer pressure, temporal discounting, and emotional triggers. When we constantly see people hyping up a movie or show on social media, we feel that urge to check it out too, just to see what the fuss is all about. The same thing happens with our purchasing habits. We’re drawn to what's popular or trending, even if we don’t really need it.
While it’s impossible to completely avoid irrational behavior, there are ways we can reduce it. One approach is to slow down the decision-making process and ask ourselves some important questions: Do I actually need this? Why do I want it? Is it really worth the money? By pausing to reflect, we can make more intentional choices and avoid falling into the trap of buying something just because it's the 'in' thing.
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