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4 Out of 10 Americans Admit Spending Too Much to Feel Successful or Impress Others

4 Out of 10 Americans Admit Spending Too Much to Feel Successful or Impress Others

LendingTree conducted a study, and out of the 1,600 surveyed, nearly 40 percent admitted overspending to impress others. The primary categories were clothes, shoes, or accessories. But if four out of ten admitted this, you know the number is much higher. That is a tough conclusion to admit to, even on a survey. The survey …

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Researchers Again Prove Some Consumers Are Suckers for Status

A bunch of really smart people who can collect data and calculate cool looking math formulas have again told us why people are driven by unconscious motivations that lead them into debt. Debt is never the problem but the symptom of the underlying issues that caused the debt. Debt is the scat of previous money …

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Do You Want to Know Why You Are Absolutely Setup to Fail When Dealing With Your Debt?

As someone who has helped people with debt and money troubles since 1994 I’ve seen thousands and thousands of consumer situations when dealing with all sorts of debt. From mortgages, credit cards, car loans, bank loans, personal loans and students loans; I’ve seen it all. I’ve worked with people with gambling problems, shopping addiction, overspending, …

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Spend Money – Get Shocked

Here we are in the middle of 2016, and technology has never been at a greater height, nor has it ever been used in the manner it is being used for. To my mind the greatest use of technology these days is our mobile phones. They are little computers and do everything. Our mobiles make …

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Two Things to Do When You Are Asked if You Want a Store Credit Card

We’ve seen the situation a hundred times while standing in line to checkout at a store, the person in front of you is asked if they want to apply for a store credit card and get a fabulous discount on their purchase. And you know what happens next, you are going to be asked as …

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Dan Ariely and I Sit Down and Talk About the Behavioral Economics of Getting Out of Debt

Dan Ariely, a world recognized behavioral economist and I had an opportunity recently to sit down and talk about a number of issues and underlying unconscious choices that lead people in debt to make good or bad decisions in dealing with debt. Dan talks about the mistakes the financial services industry makes and the best …

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Don’t Stop Shopping for Fun When You Can Spend Less and Get a Bigger Emotional Benefit

The other day I was sitting in the office of Dan Ariely at Duke University and we were chatting about behavioral economics from the point of view of getting out of debt. During the conversation the comment was made that if people became aware of the connection between spending and the “high” or good feelings …

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