The expression "settling for less" gets thrown around quite loosely, but what many people fail to realize is that it is entirely subjective. One's idea of settling less may not jibe with someone else's. While you may perfectly content with a GUESS purse, your gaudy friend may feel you're settling for less unless you opt for a more luxurious brand, like Coach or Louis Vuitton. Or, while you're happy to hook up with average-looking but highly intelligent guys, your sister may insist that you're settling for less unless you set your sights on guys who are a "9" or better in the appearance department. Furthermore, you may be told you can do better if you are not the CEO of your company, but what if you're happy having a less taxing, lower-paying job if it means spending more quality time with friends and family? This type of thinking is seriously misguided. The fact is that people have different tastes and disparate desires. Some of...

We often hear clichés like, "What others say about us doesn't matter," and "the only opinion about you that matters is your own." Noble, yes, but let's face it, folks. We DO care about what others think of us -- a lot. Case in point: Many of us spend a considerable amount of money on brand-name products. But why do we do this, exactly? There are two principal reasons: It makes us feel good: Ask consumers out there why they specifically zero in on premium brands and many will tell you that it simply makes them feel good. The fact that you own a $1,250 Louis Vuitton purse and none of your friends do might make you feel as if you're in a league of your own. This feeling of exclusivity can boost one's self-worth, self-esteem and, in some cases, self-aggrandizement.   We thrive on social acceptance: Compliments from other people provide an even bigger impetus for luxury spending. What drives people to buy items with big price tags is not so m...