Dr Boyce Watkins: Even poor people spend up to 40% of their income on luxury items
Most major department stores work with psychologists to find the psychological triggers that are most likely to get you to buy.
this was such a great video!! our society has conditioned us to be spenders and try to fit in rather than doing the right thing for the future. Michelle hit it right on the head!
The psychology of a spender. This was a great video! I agree Americans are extreme spenders. Think about all of the stores that constantly sell out.
Wow this is a high percentage!!!! I agree with Michelle... A lot of people need self-esteem and they find it with spending. Also.. I can't believe that financial advisor had the guts to rip them off. 43million dollars!!!!!!!! What in the world.
I think many people that buy things that they can't afford are seeking validation and want to feel relevant. People will live outside their means to feel like they belong because they value societies opinion instead of doing what makes sense.
The goal of this piece is not to ignore the plight of the poor, but to remind us that we live in the richest country on earth. This means that while we might think we have nothing to work with, the truth is that we're doing better than the vast majority of people on the planet