Accustomed Quote by Thorstein Veblen
“It is much more difficult to recede from a scale of expenditure once adopted than it is to extend the accustomed scale in response to an accession of wealth.”
About This Quote
Source Book: The Theory of the Leisure Class, 1899
People find it harder to cut back spending after a habit forms than to increase spending when wealth grows.
In simple terms: Spending habits are sticky; wealth makes spending easier.
Key Takeaway
Monitor and adjust spending habits early.
Themes
economics
consumer behavior
habit formation
Mood
analytical
critical
Type
economic
sociological
When to use this quote
- budgeting
- financial planning
- wealth management
- marketing strategies
Key Concepts
behavioral economics
social status
conspicuous consumption
Questions to Reflect On
- How do social expectations influence your spending?
- What strategies can break entrenched spending habits?
A Different Perspective
It may understate the role of external pressures on spending habits.
