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Showing posts from November 26, 2013

Materialism Makes Bad Events Worse

Why do you want to start a business?

There is no right answer to this, but there is one motivation you might express that could be setting yourelf up for a fall if your business doesn't go as planned.

For anyone starting a business because of the material wealth it might bring, you should know that being materialistic has a strong potential of making a bad event in your life even worse, according to a paper co-written by a University of Illinois expert in consumption values.

Materialism: defining who you are by what you own
Business professor Aric Rindfleisch says not only is materialism or defining who you are by what you own a risk your welfare, it also has the effect of making traumatic events worse.  Being materialistic can make events from terrorism to car accidents to a life-threatening illness to the failure of a business venture seem that much worse.

"If you're a materialistic individual and life suddenly takes a wrong turn, you're going to have a tougher time reco…