The short answer is yes. Material things have value, but we often give them more value than they deserve. To illustrate this, we will first explain the value of material things. We will then look at examples of how people overvalue material things.
What is the value of material things?
Our use of material things comes from us being tool users. In fact, every useful object is a tool of some sort. For example, a piece of memorabilia is a tool for helping you to remember something. Also, a decorative object is a tool for adding beauty to your home. With that in mind, a material object is as valuable as the use you get out of it. For example, a hammer is only as good as your ability to strike something with it.
Ways that we overvalue material things
Using material things as status symbols
Many people own expensive cars, but not because they like driving them. Instead, they own them because they want to be seen in them. In this case, they value the cars for not only transportation but to also show status. Otherwise, they would have gotten cars that cost one-third as much. This is one of many examples of people trying to use material things to compete for social status. It even leads to the phenomenon of “keeping up with the Joneses”. Sadly, it adds neither happiness nor social status. After all, the important people in your life already know your status. So valuing something as a status symbol is giving it more value than it deserves.
Hoarding useless things
Every material thing you own consumes resources. Even a maintenance-free object will demand space. So useless possessions waste resources. In fact, every useless thing you keep steals its volume of space (among other resources) from your home. Hoarders take this to the extreme. The number of useless things that they keep destroys the quality of their living spaces. Also, by clinging to the useless things, they give them a higher value than the quality of their homes. This is a clear case of overvaluing useless junk.
Expecting material things to grant social acceptance
This is related to getting material things for social status. But in this case, the person is trying to fit in or be popular. Perfect examples of this are fashion trends. Fashion trends are not to be confused with a personal style. A personal style is about self-expression, while fashion trends are about following the crowd. Fashion trends also encourage people to discard clothes while they are still serviceable. In fact, the trendier a garment is, the sooner it goes out of fashion and the dumber it looks when it does. Also, people who don’t like you won’t suddenly start liking you because you dress like them. So, getting material things for social acceptance overestimates their ability to provide it.
Thinking that some things are too good to use
Some people will not use the fine silverware or chinaware. This refusal renders their precious possessions useless. So these things consume resources while giving the owners nothing in return. In these cases, the owners have become willing slaves to their possessions. This is a clear case of overvaluing material things.
Expecting material things to act as motivators
Many people buy exercise equipment in the hopes that the equipment will motivate them to work out. Many also buy outfits that they hope to fit into after getting in shape. But this strategy seldom if ever works. Instead, the would-be exercise equipment gathers clothing and dust. Also, the outfits become extra clutter. It is because true motivation can only come from within. It cannot come from ill-fitting outfits or from treadmills used as coat hangers. To expect motivation from material things is to grossly overvalue them.
Expecting material things to bring happiness or fulfillment
Many people, especially shopaholics, expect happiness or fulfillment from things they buy. They think they will be happy if they had some new items. But once they have what they want, their “happiness” quickly fades. So they focus on other new items that they don’t have. This cycle results in them living in cluttered homes with a money shortage. It is because happiness and fulfillment come from positive attitudes and activities. Material things are only tools and cannot provide these by themselves. To expect otherwise is to value them more than they deserve.
In Summary, material things are tools. This means that they are only as valuable as the use you get out of them. To value them beyond that is to overvalue them. Examples include the following:
Using material things as status symbols
Hoarding useless things
Expecting material things to grant social acceptance
Thinking that some things are too good to use
Expecting material things to bring happiness or fulfillment
In these cases, the material things seldom if ever deliver what the owners hope. Instead, they waste resources and degrade the owner’s quality of life