Even though I can't afford it

With pocketbooks pinched, and the holidays approaching, many people are reaching for their credit cards to pay for things that they can not necessarily afford. We wondered, what type of items are people still buying, even though they can't afford it?

One frequently mentioned category was camera equipment. This was surprising, since cameras tend to be luxury items. For more insight, I contacted professional photographer Max Flatow, who attributed this phenom to the fact that, "camera companies are constantly trying to one-up one another. As soon as a new product comes out from one manufacturer, another one comes out from a different manufacturer the next month, so people become overly consumed in wanting to buy new equipment."

Other frequently mentioned splurges included:

Travel: Weekend trips, visits to families, and vacations. Bloggers noted that "they needed a vacation," or that visiting their relatives was a priority, regardless of funding.

Coffee: Expensive lattes or flavored coffees from Starbucks, Dunkin' Donuts, or other local chains. Some cited their addiction to caffeine, while others saw the drinks as a way to treat themselves.

Education: Student loans and books or other expenses related to education. Some referred to the fact that they needed education in order to excel in their future careers.

Are you interested in consumer splurging patterns? Drop me a line at heatherm@nicholasresearch.com