Dr Boyce Watkins: Here's Why poor people overspend on luxury

by Dr Boyce Watkins

Someone asked me recently if I believe there is such a thing as a poverty mentality.  I said "Absolutely yes."  The same way changes in mindset impact how much work we do, how much weight we lose or how we treat our spouses, there is also a mindset that relates to how we treat our money and our economic future. 

One area in which the poor are regularly duped has to do with luxury spending.  There are long-held scientific methods used by major corporations to convince consumers to purchase luxury items that provide very little intrinsic value.  These factors might be related to your self-esteem, desire to fit in or need to feel validated. 

I did a video on this topic that I hope will help you make sound financial choices.  You can watch the video below. 

Please take care and have an awesome day. 

Dr Boyce Watkins

IG:  @TheRealBoyceWatkins
Twitter: DrBoyceWatkins1
Youtube:  DrBoyceTV.com

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