Emotional Spending and Consumerism is Keeping You Broke! [Video]

Your emotional spending and consumerism is keeping you broke and today I’ll explain why that may be and ways to dodge emotional spending and overconsumption.#socialcommentary #videoessay

Sources:
Average American Debt in 2024: Household Debt Statistics
https://www.businessinsider.com/personal-finance/average-american-debt#how-to-start-paying-off-debt

How Emotions Impact Your Financial Decisions:
https://www.psychologytoday.com/us/blog/psychology-money-and-happiness/202403/how-emotions-impact-your-financial-decisions#:~:text=Emotions%20impact%20financial%20decisions%20often,you%20make%20smarter%20financial%20decisions

What Is Emotional Spending?
https://www.experian.com/blogs/ask-experian/what-is-emotional-spending/

Share of six-figure earners living paycheck to paycheck jumps, report finds. Advisor offers ways to break the cycle
https://www.cnbc.com/2023/05/24/share-of-high-earners-living-paycheck-to-paycheck-jumps-year-over-year.html

Chapters

00:00) Intro: Emotional Spending and Debt
(00:24) The Impact of Emotions on Financial Decisions
(01:25) Consequences of Unchecked Emotional Spending
(02:20) The Desire for Material Goods and Debt Accumulation
(03:18) Reflections on Purchasing Luxury Items
(05:09) Confronting Financial Secrets and Debt Burdens
(06:29) Importance of Emotional Intelligence and Financial Literacy
(08:00) The Illusion of the American Dream
(09:22) The Influence of Corporations on Emotional Spending
(10:15) Overcoming Mindset Barriers to Financial Stability
(11:40) Surrounding Yourself with Financially Savvy Peers
(12:32) Self-Reflection on Spending Habits and Priorities
(13:31) Breaking Free from Consumerism and Building Wealth
(14:24) Conclusion: Encouragement for Mindset Change and Financial Literacy

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