Do You Need Plastic Surgery?
“Youth is wasted on the young.” ~ Oscar Wilde, Playwright & poet
Many people don't realise what they have until they lose it, which might explain why plastic surgery is a multi-billion pound business. Plastic surgery is the vernacular for cosmetic surgery. And to make it even more confusing, procedures can be surgical (e.g. breast augmentation) or non-surgical (e.g. Botox). The minority of procedures are health-related, but the vast majority are elective, in the sense that they are purely for aesthetic reasons.
Of the estimated £3.6 billion a year spent on cosmetic surgery, £2.75 billion (9 out of 10 procedures) relates to non-surgical procedures like Botox and fillers[i]. 1 No one needs non-surgical procedures like Botox. But if you have the money and your looks are essential to your happiness and wellbeing, then what's the harm?
The Correlation With Happiness
Maxwell Maltz was a cosmetic surgeon around in the 1950s. In his seminal book Psycho Cybernetics, Maltz made the point that many of the people he performed cosmetic surgery on were no happier after the procedure. He concluded that the source of these patients' unhappiness was how they saw themselves and related to the world.
Much non-essential spending is to meet a deep-seated need for love, acceptance and significance, or to alleviate boredom or stress. Some purchases like cosmetic surgery or a tattoo are more permanent and expensive than a new pair of shoes, or that swanky new Apple watch.
The Issue Beyond The Plastic
Non-essential spending can lead to running down valuable savings or incurring expensive non-mortgage debt like bank loans, overdrafts or credit cards. Debt is a tax on your future income and restricts your ability to build savings and wealth. It's like walking up a mountain with a backpack full of rocks. It weighs you down and provides no lasting benefit.
Using debt to buy things you can't afford is what I call spending in advance. Using savings to fund expenditure is what I call spending in arrears. To be financially healthier and happier, you must spend in arrears, i.e. only what you have coming in or what you have saved.
Credit and store cards or BNPL (Buy Now, Pay Later) checkout deals are not 'back up' or useful. They are not your friend, and they are not a way to earn rewards and insurance. Being debt-free means being able to choose how you spend your time and the money you have. It also means you can cope with life's financial curveballs. They are the only rewards and insurance you need.
“Being debt-free means being able to choose how to spend your time and money. It also means you can cope with life's curveballs. They are the only rewards and insurance you need.” Tweet This
The 'benefits’ of Botox eventually fade, and you need more injections to keep your skin wrinkle-free. And so do the many things we buy that aren't essential, and we can't afford. Card debt is an easy route to being broke, stressed and buying crap you don't need, and which doesn’t lead to lasting happiness.
As long as you align your spending with your values, priorities and financial resources, you'll be fine. But if not, as Maxwell Maltz found with his patients, you might need to look within yourself to understand why you are spending money the way you do.
Recently I closed all my credit cards after 33 years of use. While I always paid the balance in full each month, I always felt slightly detached from the spending that I did on my cards. Now I pay for everything either by bank transfer or debit card. I see my spending come out of my bank account immediately, and that makes it easier to check that it’s aligned with my spending plan.
When You SHOULD Have Plastic Surgery
If you are not financially independent, I recommend you do have plastic surgery, in the form of a ‘plasticsectomy’. ‘Plasticsectomy’ is a made up word to describe cutting up your credit and store cards. I know this is a big step, and you might be fearful of taking the plunge, but it's an essential step to getting totally in control of your money.
Once you have cut up your cards, create a focused plan, using the Snowball Method, to repay any outstanding balances as quick as you can, and then close the accounts. It will make you feel lighter, more free and more in control, as explained in my previous post, The Divorce Party.
Plus, if you worry less about money, you will probably look ten years younger and won’t even need any real cosmetic surgery!
PS. If you think you might benefit from some structure and support to help you improve your financial wellbeing, my friend Fanny Snaith runs an online money coaching course called Loving Me, Loving My Money. It might be just what you need to make lasting change.
[i] https://www.cosmeticsurgerysolicitors.co.uk/all-resources/cosmetic-surgery-billion-industry