Considering the impact of fragrance purchases on your finances
There are a few issues I sometimes struggle with when looking at my fragrance collection. The main concerns include the money spent on the collection, the size of the collection, which involves finding storage solutions, choosing what I wear daily, and the waste involved. Finally, since I am not a young man, I consider the logistics of managing or disposing of the excess (which is quite a lot). Today, I will focus on the financial aspects; of course, I used AI tools to help put this together. Based on insights from fragrance enthusiasts and financial experts, it's common for credit card bills to show a significant increase in spending when someone gets deeply into collecting fragrances. The worry about "crazy spending" is justified, as the cost of premium and niche fragrances can rise quickly and cause financial strain for some. The financial impact on enthusiasts: • The "slippery slope" of niche fragrances: The fragrance community recognizes that pursuing high-end perfumes, known as "niche," can be a financially risky journey. It's common for collectors to spend hundreds of dollars on a single bottle. • The "dopamine rush" of buying: Some collectors say that the thrill of acquiring a new fragrance can become addictive, often called "fragrance addiction." The initial excitement fades, leading them to chase the next "high". • Blind buying and waste: Influencers and reviewers often generate excitement for new releases, but relying on their opinions can lead to "blind buys"—purchasing a fragrance without smelling it first. If they don’t like it, it results in wasted money. • Signs of financial stress: In extreme cases, excessive spending can cause neglect of other financial responsibilities, missed credit card payments, and mounting debt. For many, realizing how much they've spent serves as a wake-up call to change their habits. Financial strategies used by the community: • Set a strict budget: Many collectors establish a set monthly or quarterly budget to prevent overspending. Some only allow themselves one new purchase per month.