Is jewelry a waste of money?

Jewelry has always been one of the most overrated objects. In ancient times, jewelry was believed to be synonymous with wealth. This tradition has remained the same over the centuries. In fact, it is increasingly present, but is this an emotional defense mechanism? Does it have something to do with culture?

Is jewelry a waste of money? 

Jewelry is not only an economic value but, in some cases, it is assigned a sentimental and emotional value. Generally, jewelry is given as a form of affection from generation to generation. It may also be that the person wishes to show off their wealth in jewelry. There are several reasons why some people need these luxuries to “live,” while others think it is a pointless waste of money.  

Why do we feel the need for jewelry?

The need to have jewelry has tremendous psychological significance. Having these types of items, such as rings, watches, earrings, necklaces, etc., is not a need that we are born with. This need is generated as the person learns the meaning of different millenary customs and traditions, such as those of the Aztec or Egyptian times. 

It is not necessary to know the history of why we need to have jewelry in our possession. Still, it arises naturally from the need to show that a person belongs to a high social class. Therefore, this individual wants to show the rest of society that they have a high purchasing power. Many times, these people feel superior to others. 

Psychological reasons why human beings need jewelry to “be happy”.

There are several reasons why people need to have jewelry in their possession. Still, it is all due to psychological factors that, perhaps unconsciously, influence the proxy.

  • Self-esteem: Jewelry makes a person feel more self-confident when wearing high-end jewelry. They also perceive a feeling of beautification and success from having these pieces. 
  • Social status: Having jewelry has always been a sign of wealth and power. In ancient times, pharaohs, monarchs, emperors, and people of high economic and social status distinguished themselves from others by wearing pieces of jewelry.
  • Love bonds: When we think of a wedding, the engagement ring is one of the main things that come to mind. This piece is symbolic of expressing love and commitment to another person. In fact, this jewelry is usually personalized, with the names of lovers, family members, or friends, which gives it an even more valuable meaning.  
  • Heirlooms: Inherited jewelry usually has a meaningful, sentimental value for the person. Their relative has left one of the most valuable pieces of their life to the beneficiary. The heir keeps the jewelry as a treasure and a memento of the deceased person.
  • Personality: By wearing jewelry, people show that they belong to a high social level. In addition, this way of expressing oneself defines the jewelry owner’s personality. 

Is jewelry a waste of money?

Is buying jewelry a waste of money?

As we mentioned, jewelry can reflect a human being’s personality. While there is jewelry that has sentimental value, there are others that are only bought for the sole purpose of demonstrating wealth. We could say that “sentimental jewelry” is not a waste of money since it represents a person’s affection towards another person. 

Suppose jewelry is used to demonstrate social status. In that case, it could mean a waste of money since it has no value other than to show oneself to the world as a person with a specific purchasing power. 

No one takes anything to the grave, which may be one reason buying jewelry is a waste of money. In any case, the deceased person would have enjoyed the possession of their jewelry until their last breath, but this piece could never save their life. 

Jewelry is a waste of money when it is only bought to tell people that a piece of high monetary value has been purchased. However, the owner will probably use this valuable piece of jewelry only once in a lifetime for a special occasion. In this scenario, buying jewelry is a waste of money.  

Is it advisable to invest in jewelry?

If we are talking about investments for taste, that is, buying a piece of jewelry to show it off, it is not a good idea to spend so much on it. On the contrary, if the person wants to invest in a venture and then work in the jewelry sector, this would be a good reason to invest in different precious metals and then sell them. 

In short, jewelry is a waste of money if you spend everything you have saved for years to get a piece of valuable material. Usually, the price of gold is emotional. Suppose that the economy of the country where we reside is collapsing.

This desperation due to the uncertainty of not knowing what will happen to the economy may lead people to invest in jewelry with the illusion that it will be worth much more in the future. However, this is not true because as the currency loses value, so does gold.