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As an example, someone might look at a T-shirt which costs £20 which might be part of their wardrobe for several years. And they might think, well that's a bit steep.

But, conversely they might go out, buy a few pints £5 each (London prices) go to a club with a £5 entry fee. And by the end of the night spent £20 or more. Or alternatively spend £15 on a cinema ticket and popcorn while being very annoyed if their shopping budget goes over £15.

Clearly the economic thing to do would be to spend less on entertainment and more on essential items.

One might imagine that someone would factor in meeting the partner of their dreams into the budget which might put more value on the entertainment budget. But I would say that even factoring this in the entertainment seems grossly over valued.

Psychologically speaking, why do we accept such a high price for entertainment? Is the value appropriate or is the brain over-valuing it?

(BTW This is an example from a particular socio-economic group. Obviously the billionaires would spend much more on both clothes and entertainment.)

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