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14: The Psychology of Consumerism

Money Feels

CHAPTER

The Boot Theory of Poverty

When I couldn't afford to buy more expensive clothing, I felt like I had no choice but to buy cheaper quality items that would essentially run their course much quicker than those higher quality items. That's the boot theory. A good pair of boots that might last five or 10 years cost $13. So a richer person can just purchase those and they're set for the next decade. But a poor person can maybe only afford the $5 pair of boots. And then they stay trapped in that cycle of poverty where it's more expensive because they can't afford to invest in quality. You know what? There's a really great Tiktoker. She was on Instagram but now she's primarily

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