Status Drives Our Purchasing Decisions

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status does impact how we purchase things. You could actually get a rip off luiviton handbag, which looks the exact same. But these people who are looking for status aren't going to buy the rip off. And one of the adjustments you have to make is your reference points often hold you back. They hold you back from buying something that may save you time and bring more joy to your life.

In this episode, Cal and Steph discuss the subjective nature of pricing. They explore how a value extends beyond utility or the physical nature of an asset (think luxury items, NFTs, etc) and use these ideas to explore new pricing models, including tiered, retention-based, and completion-based pricing.

They also explore how our own psychology can inhibit use as consumers to spend on what's most meaningful and the importance of unlearning certain spending habits.

If you find the psychology of money as fascinating as we do, give this episode a listen.

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