Welcome to Finance and Fury
- Everyone has heard of more money, more problems – it is a bit of a contradictory statement
- It is false as money can cover bills and be used in emergencies
- It is true as not valuing money can lead to problems
How to value money?
- What is conspicuous consumption?
- Why does this occur?
- The display of economic power is a means of their social status
- What is Affluenza?
- What did Oliver James say?
- What does it matter if someone has more stuff than you?
- Seeing wealthy individuals online can help contribute to the affluenza problem
Where it comes from?
- Marketing triggers your spending habits
- What does wealth really look like?
- Societies can remove the negative consumerist effects
- Price versus value
- What leads to overconsumption?
- What creates a society of individualistic consumers?
What are downshifting spending habits?
- The realignment of spending priorities
- Identify the need for an alternative political philosophy
- What are the long-term effects of downshifting?
What are the elements that help?
- Regaining control of your finances
- What is the endowment effect?
- Putting a premium on your spending habits helps you to downshift
- What is the opportunity cost of parting with your money?
Start by looking at timeframes:
- Short, medium and long term
- What can you do right now?
- Get disciplined, pay yourself first (check out the calculator), the hard truth
- How stressful would it be to get to 65 years old and not have enough to retire?
- If you planned ahead, these stresses could have been avoided
- Know that most of what you see on social media is a lie
- Don’t try to live up to anyone else
- Know the value versus the price
Thank you for listening, if you want to get in contact you can do so here