The Seven Categories of Spending
By Jessica Doster
Items needed to stay alive or basic comfort. (Ex. Food, shelter, medical care, basic clothing, taxes.)
Places used to store money such as funds, savings, checking, stocks, bonds and, 401K.
Goods or services bought for fun but are not needed to survive, like plastic figures of a popular cartoon singer in costume.
Goods and services you pay for to make life easier, like purchasing from a vending machine.
The "evil spin-off" of pleasure purchases where items are bought to show off wealth, such as buying a golden statue.
Purchases made to make someone feel normal, such as buying fine china.
Similar to traditional purchases, but is motivated by guilt, like creating a baby shower for someone yet still feeling inclined to get them a gift.