A lot of folks discover personal finance podcasts like this one after hitting a few bumps in the road – most often with debt. Maybe you’ve maxed out your credit cards, or you’re juggling more Buy Now Pay Later payments than you can keep up with. That kind of financial stress is heavy, and it often comes with a side of shame. But what if your money struggles aren’t just about willpower? What if the financial services industry is stacking the deck against you? Our guest today, John Dinsmore, is a marketing professor at Wright State’s College of Business. He studies how banks and lenders use clever marketing tactics to steer us toward debt. And he’s here to reveal the traps and show us how to spot and avoid them. Listen as we discuss how cultural attitudes towards debt can normalize harmful practices, when psychological factors like loss aversion affect debt decisions, avoiding status symbols that can lead to irresponsible spending, and much more!
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