The Seven Categories of Spending

By Jessica Doster

Required Purchases

Items needed to stay alive or basic comfort. (Ex. Food, shelter, medical care, basic clothing, taxes.)

Investment Purchases

Places used to store money such as funds, savings, checking, stocks, bonds and, 401K.
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Pleasure Purchases

Goods or services bought for fun but are not needed to survive, like plastic figures of a popular cartoon singer in costume.
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Convenience Purchases

Goods and services you pay for to make life easier, like purchasing from a vending machine.
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Ego Purchases

The "evil spin-off" of pleasure purchases where items are bought to show off wealth, such as buying a golden statue.
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Traditional Purchase

Purchases made to make someone feel normal, such as buying fine china.
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Guilt Purchases

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.
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