ih The Nature of Materialism \, Materialism purports that all that is found in the universe is matter which is the substance of nature, It suggests therefore that material possession is all that matters most. Success, happiness and the essence of individual existence are gauged by material prosperity which one has gained in a lifetime. This is precisely what is in the mind and spirit of many individuals now as they place much value and the highest regard on material wealth. Western cultures have encouraged materialism among people now as they seek for happiness and life satisfaction. The pursuit of happiness is largely anchored onwhat we canbuy,how quick ! ‘we can adapt to’ the changes in technology as well as how well we can keep pace with the status quo. The capacity to spend has become the fundamental standard to show power, control and happiness for being able to acquire whatever you materially desire to acquire. As. resources continually become scarce, economists and even environmentalists continue to reiterate on the need to focus on needs 'rather than wants and desires. However, as human nature dictates, we are blinded by the growing consumerism and commercialism around us. Our self-esteem, as well as self-worth, has been greatly determined by our accumulation of objects. This behavior is even reinforced by social media as we post daily statuses on buying a pair Of shoes, to purchasing an over rated coffee and having a vacation of a e. I Reasons for Materialism Material possessions provide several effécts on the individual whether it is personal, intellectual or emotional. Varied motivations agitate the individual to pursutemoreand amass more of the money, gadgets, vehicles, jewelry and the like regardless of their realistic needs. Consumerism is motivated by the following reasons: 1. It is alleged that material possessions provide these individuals with a feeling of security as their money and property provide them with tangible assets; 2, Itis alleged that wealth gives them a sense of well-being as they alleged that this material wealth provides them with happiness; Tove a | rast ee f°3. It is alleged that material wealth boosts their self-esteem and self- confidence as they believe that they possess those assets that not everybody has; and 4, It is alleged that cherished wealth provides an individual with more ~~ friends and relationships through greater interaction. e Concept of Self-Gift The Self is the primary object of one’s journey through life. It is interesting enough to know that one desires to work for personal consumption and gratification. However the act and behavior of collecting goods and providing gifts to the self is considered as materialism. This is a way to communicate with the self as influenced by one’s culture and immediate environment. Three factors determine that self-gifts are revelations of an individual’s materialism: 1. Materialism is often associated with self-centeredness, Often the individual would prefer to be indifferent of others as well as separate from the majority. The need to be alone and alienated is imminent. Furthermore, the urge to be narcissistic is evident while being callous of others. Self-centeredness means prioritizing the self while showing evident lack of empathy on the plight of others; - Materialists define success according to how much wealth and Property was amassed. They usually utilize possessions in self- definition. They have the evident tendency to define success in terms of the quality and amount of one’s acquired wealth. 5. Materialists believe that happiness results from the relationship between buying and consumption. Self-gift can be a source of intense happiness among materialists. It provides them with very positive emotions. Gifts result in intense, positive feelings. Self-gift prevents negative emotions such as depression, emptiness and sadness as it provides therapy to the materialist.Remarkably it becomes clear that consumer behavior is a consequence of varied factors that brings about materialism. Some would say that “you are what you have” which basically instills an attitude of insecurity on the individual. Such may even create lower self-worth and self-esteem as well as negatively affect the well-being and quality of life of the person. The recent past has shown how material possessions have become an extension of our selves. It has become a way of expressing ourselves and our identity. Our jewelry, signatures clothes, cars and the like have served as a status symbol to show others who we are and what we can do. These objects have basically provided a glimpse of our persona as it shows off and reflects a part of ourselves. This concept on the existence of an ‘extended self’ developed from the insight of Russell Belk back in 1988 where he reiterated that our Material possessions are largely a reflection of our identities. ing to Gregoire (2017) materialism makes people unhappy for the followirfg reasons: : 1. Consumer culture may be harming individual well-being. Young adults born in this period of affluence are less happy and are subjected to risk of depression and mental disorder as their well- being is not positively influenced by consumerism. Allegedly those who pursue more wealth and greater material possessions are less satisfied as they experience less positive emotions. 934 2. Materialistic values are linked to Type-A behavior. Those who are highly ambitious are highly competitive and materialistic. These are traits of a Type-A personality. A 2008 study published in the Journal of Pacific Rim Psychology supported the revelations that Type-A qualities include the motivation to acquire much wealth and material possessions and are highly aggressive as well. 3. Money really can't buy you happiness. Several studies have shown that wealthy people are highly susceptible to depression. There is no direct correlation between over- all well-being, happiness and wealth. What matters is that basic needs are satisfied. Researches have also shown that money is not exactly what brings about the dissatisfaction and the unhappiness but the extreme desire to earn more. » Materialism could ruin your relationships. In a ‘research published in: the Journal of Couple & Marriage Therapy involving 1,700 couples it was revealed that ‘those partners who are materialistic showed lower marital quality compared to those who are less materialistic, Materialistic values results to low-quality relationships and disconnectedness. And since this kind of people are less pro-social and emphatic about others, they are less happy and contented with life as well as with their relationships. Indeed, money cannot buy us happiness. 9 Consumer cultures may breed narcissistic personalities. Consumer culture highly contributes to the development of Naicissistic behavior and personalities. Narcissists are highly arrogant as they are deeply concerned with inadequacy. They work a lot for power and prestige to cover up their perceived emptiness and low self- worth. All these sentiments demand validation from others through praises; compliments and approval. 6. Consumerism is fueled by insecurity. In 2002, a research study published in the journal Psychology and Marketing revealed that thése are extremely doubtful of their self-worth are highly insecure and thus have the tendency to be more materialistic. Consumerism capitalizes on this insecurity so their products and services will sell and be highly demanded: This could be exemplified by advertisements emphasizing that ‘white is beautiful’ and proliferated through social networking sites. In effect, those who are highly insecure about their complexion would demand for products and services that will alter their natural skin color. Consumerism has created and offeredTHE ROLE OF CONSUMER CULTURE ON THE SENSE OF SELF AND IDENTITY Consumer identity is the pattern of [jf consumption that describes the consumer. People may no longer consume goods and services primarily because of its functional satisfaction. This develops the consumer. culture. Consumption has become increasingly more meaning-based; brands * are often used as symbolic resources for the construction and maintenance of identity. Brands and products are now being used by many consumers to express their identities. People may construct their social identities through the consumption of commercial brand or luxury commodities. This is one of the basic features of people in modern era, a behaviour that-leads to consumerism. 4 Consumerismis the preoccupation with and an inclination towards the buying of consumer goods. It is also based on the theory that an increasing consumption of goods is economically desirable (https://www.merriam-webster.com/ dictionary/consumerism). This is made possible because of the availability, of open market or technology-based market. High class consumption is ‘attached to the identities of people in the society and it legitimizes consumer culture in the daily lives of people. By CHOICE or COMPULSION people respond to goods and services based on people’s assumptions that it is associated to their social identities (https://en.wikipedia.org/wiki/Consumer_identity). 127In buying commodities, there are instances when people tend to base their buying behaviour on the function of goods. In most cases, how they think and feel influence their decisions, causing them to behave in unpredictable and irrational ways. Behavioral Finance is a new field that combines behaviorai and cognitive psychological theory with conventional economics and finance to provide explanations for why people make irrational financial decisions (http://www.investopedia.com/university/behavioral_finance/). If a person fails to choose, then that person chooses to fail. Decision making is important when being confronted to buy something. Just like a dog who is able to catch the ball, every time the ball is thrown, if the'dog represents the person and the ball represents the things that person want$>then there will be. no end to buying. On the other hand, when a person only buys goods because he needs them, he may feel incomplete for it lacks the joy buying for wants provides the person. Thus, Behavioral Finance tries to provide answers to these interesting facets of consumer behaviour.The Role of Material Possessions on the Sense of Self and Identity Regardless of how much or how little material possessions people have, they remain valuable because these possessions are symbolic of one’s social status. Cars, houses, gadgets, and clothes are to some the most valuable possessions because they are the most visible in the eyes of others. The more expensive they are, the more other people are impressed. Russell Belk (1988) in his work Are We What We Own?, | suggests that material possessions act as an objective manifestation | of the self. Material possessions can be a reflection of hard work } and success. Normally, people tend to measure success through the amount of their material possessions. Owning material possessions becomes a driving force in urging an individual to seek high level of achievement in order to be able to acquire more possessions. Defining the self by material possessions can also contribute to a feeling of well-being, including a sense of personal growth and purpose or meaning in life. However, the lack or loss of material possessions can be disruptive to one’s mental health, like people losing their houses and other possessions because of disasters and calamities.PART 2: Unpacking the Self People tend to judge others through their material possessions, Thus, the greater the material possessions, the more likely one wil] be accepted and regarded well by other people. The important point is that these components of the material self become a significant reference of one’s sense of self and identity. However, the desire for material possessions also have negative effects on one’s sense of self and identity, Materialism refers to giving” More importance to material possessions than intangible values. A materialistic person is one who is excessively concerned with the acquisition of material possessions. The strong desire for material Possessions could lead to psychological dysfunction or impairment in functioning such as compulsive buying disorder (CBD) which is characterized by an obsession with shopping and buying behaviors that can cause adverse consequences (eg, debts), Developmental evidence suggests that identification with material~ things begins quite early in life but remains high throughout life as people seek for happiness (Belk, 1988). Nevertheless, psychologists | identify other social and cultural factors that seem to be strongly | implicated in the etiology of materialism. People are exposed to | images in television, the internet, and magazines that brag about the | importance of material possessions such as branded clothes, mobile_{ phones, cars, and the like. Lack or loss of these material Possessions could lead to anxiety, insecurity, and depression in people who overly materialistic. Thus, when a person is about to make a purchase, he or she should ask himself or herself a very important question: DOIREALLY NEED THIS? Consumer Culture Consumer culture is a social system in which consumption is dominated by the consumption of commercial products (Amould, 2010). Consumer culture denotes a social arrangement in which the relations between lived culture and social resources, and between meaningful ways of life and the symbolic and material resources 136CHAPTER 8: The Material Self on which they depend on, are mediated through markets. The consumption of market-made commodities and desire-inducing marketing symbols is central to Consumer culture (Arnould & Craig, 2005)..A consumerist society is one in whi ich people spend a great deal of time, money, and energy to “consume” commercial products, and services. Consumerism is the consumption of material goods and services in excess of one’s basic needs, Consumerism is closely tied to materialism. Both heavily influence the way individuals view the self. It can be viewed positively and negatively. For instance, people tend to be happier and more motivated when their wants and needs are met. On the other hand, it encourages people to buy products and services that they do not teally need or afford. The state of needs and wants tends to be endless, and thus could cause negative effects such as dissatisfaction, unhappiness, and depression. ® ISCOVER 1. A person's possessions including the body, family, clothes, money, house, car, and other tangible objects make up his orher material self, goods, 2. Materialism is the importance that people give to material possessions over intangible values. 3. A materialistic person is excessively concerned with the acquisition of material possessions. 4. Compulsive buying disorder (CBD) is characterized by an obsession with shopping and buying behaviors. 137