When a person becomes an adult, they start having to take responsibility for their lives, at least one hopes that they do. In years gone past, the pace of change was not such that taking responsibility related to an ever-changing landscape where innovation and advancement happened on a weekly basis. However, in our modern world, the increasingly globalised markets, along with the advent of the world wide web, has exponentially increased the rate of change and speed of communication. Change and expanding choice have become an ever-present part of society. This brings its own problems.
The large number of options now available for many things requires the consumer to do a lot of research and become relatively proficient in evaluating what is on offer.
For instance, if a person wants to buy a new washing machine they now have numerous manufacturers to choose from and numerous stores selling washing machines at different prices. They might also feel obliged to consider other factors such as environmental impacts, the type of labour conditions in the factories that make the machines, and whether it is made within the country of purchase. This all takes time.
Other larger purchases may take more time. Deciding which company you are going to use to provide various types of insurance is of concern to many, as is deciding on the provider of the mortgage on a house, or the type of superannuation fund that is best.
With the breadth of choice now available this is a complex and time-consuming activity. As all those who have read mortgage contracts and insurance policies know, trying to evaluate what is actually being provided and the potential pitfalls is a challenge in itself when reading one, let alone trying to compare a variety of such documents. If you have the money, then you can get a professional to look at this for you, but then again, which professional to choose?
With a greater emphasis on people providing their own retirement funds, we are now being asked to become proficient in the assessing investments in the Stock Market. Becoming an expert on the financial markets is not something that happens quickly and yet more and more of us are being asked to make decisions on investments and superannuation. The current Stock Market turmoil is taking its toll on many institutional investors and funds, and one can only speculate about what it is doing to self-funded retirees and those who are nearing the time when they are to retire.
Of course, the experts also tell us that we should review all of our major financial commitments on a yearly basis. Is our house and car insurance still the best? Should we be considering changing our bank or mortgage provider? Is our health insurer as competitive as it should be? Perhaps our car and/or computer is out-of-date and in need of upgrading. Are we getting the best deal on our telecommunications? All these things are changing at a rapid rate and we are all being asked to keep up.
But, in addition to spending all our time delving into these big financial commitments and purchases, there is a need to do even more research. The nutritional value of some of the food we buy at the supermarket is doubtful, so should we take any notice of the non-stop advertising that assaults us on a daily basis? And do we need to know what those numbers relating to additives mean? A trip to the shops becomes a matter of looking closely at the labels to see if there are any dubious additives included, or whether the weight or quantity has been reduced while charging the same price. This lengthens the time needed to get the job done.
I haven’t yet mentioned the environment. We now need to consider our carbon emissions, our water use, whether we should recycle what we consider waste, and the carbon footprint of everything we buy. This is not a bad thing, in fact it is very good to consider these things and act accordingly, but after considering much of the above it becomes yet one more call upon our time to research what we should be doing.
The modern media and internet are constantly bombarding us with conflicting views about what we should be doing and how we should be doing it, giving us yet more urges to go and do research.
I have only covered choices relating to singles or couples. For families there are numerous additional choices that have to be made.
Why is this so? Perhaps it’s because we lack trust in the professionals now, or maybe it’s because governments are now giving us freedom to make our own decisions. The free market might be to blame, or perhaps it’s our own insecurities that we are somehow not getting “the best”, whatever that might be. And there is the potential for people to feel guilty about not having “the best”, as if somehow this makes them inferior.
The bottom line is that we are being asked to become experts on areas that are the preserve of those who have spent many years learning to become professionals. And yet, despite this, we are still corralled into feeling obliged to have significant knowledge of these areas. This all takes time. And so much time can be spent on these things that we fail to find enough time for ourselves.
Getting “the best” may, in fact, involve reclaiming time for ourselves rather than spending inordinate amounts of time trying to learn everything about everything. In terms of mod-cons and services, in the long term “the best” cannot be bought anyway, because everything is constantly evolving and changing.
It surely must be time to re-evaluate all of this, and realise that life is something to be enjoyed rather than something to be endured.