In a similar piece, Bored Panda spoke with UK-based clinical psychologist and The Thomas Connection founder Michaela Thomas. She discussed a potential link between overspending and mental disorders.

“If overspending is due to lack of financial planning, or wanting the dopamine kick of how good it feels to purchase something, that can be linked to ADHD, depression, mania, psychosis, or other dopamine-related issues.”

Then there is the question of, “What drives a person to purchase a product or service?” Survey Sparrow gave several factors, perception being one of them. It is the manner in which a consumer interprets information about what they intend to buy. 

“A consumer who has had a positive experience with a particular brand may have a more favorable perception of that brand than a consumer who has not had any experience with the brand.”

Our beliefs likewise influence purchasing decisions, which can be influenced by cultural values, personal experience, and social influence. 

“For example, consumers who believe organic products are healthier may be more likely to purchase organic foods.”

The discussion took a slightly darker turn when talking about materialism. Here’s an analysis by Knox College psychology professor Dr. Tim Kasser. 

“We know from research that materialism tends to be associated with treating others in more competitive, manipulative, and selfish ways, as well as with being less empathetic.”

According to Dr. Kasser, people who tend to be materialistic also experience problems outside of their mental health. 

“They reported physical health problems, such as stomachaches and headaches, and the less they experienced pleasant emotions and felt satisfied with their lives.”

Dr. Kasser also pointed out that people who turn to materialism are likely dealing with personal insecurities. 

“People are more materialistic when they feel insecure or threatened, whether because of rejection, economic fears or thoughts of their own death."

Signs of materialism are believed to manifest at a young age. According to Professor Mònica Casabayó of Spain’s Esade University, family income determines whether a child will grow up to be a consumerist. 

“Children in lower-income families were significantly more materialistic than children growing up in higher-income families,” she said in an article for the University website.

Professor Casabayó and her colleagues also found that a child’s education plays a role.  

“Our data show that children in religious schools were less materialistic than children in secular schools. Religious schools may influence children by putting over a world view where spiritual ends are more important than possessions."