Ep 180: Decoding Consumerism | Dr. Marcus Collins on How Culture Impacts Our Spending

Do you ever wonder why you buy things you don't need? This episode explores the fascinating (and sometimes alarming) ways culture shapes our budgets. We’re talking to Dr. Marcus Collins, who is a scholar of the hidden messages of consumption, a marketing professor at University of Michigan's Ross School of Business, and the author of For The Culture. 

He takes us on a journey into the heart of consumerism, explaining how brands create religions, how the people we admire influence our spending, and how we can all become more conscious consumers. It's a hilarious, insightful, and maybe even a little uncomfortable look at the invisible cultural forces that are impacting our spending. 

Dr. Collins helps us understand:

• How the "consecration" of brands shapes our spending: We're not just buying products, we're investing in a sense of belonging, an identity, a belief system. Think of it as the "gospel of consumerism”
• The power of "our people": Dr. Collins breaks down the phenomenon of social proof and how the people we admire, the groups we identify with, and the trends we follow, all play a huge role in our spending.
• The illusion of financial freedom: Dr. Collins reveals how the "keeping up with the Joneses" mentality and our unconscious cultural programming can leave us feeling trapped, even when we have the right information.
• Navigating the cultural landscape: Dr. Collins offers tools and insights to help us become more conscious consumers, make more intentional spending decisions, and build a financial future that aligns with our own values.

You'll walk away from this episode with a deeper understanding of the unseen forces influencing your spending, equipped to see through the "noise" of cultural marketing and branding, and empowered to break free from the unconscious influence of cultural norms.

Links: 

• Get Dr. Marcus Collin’s book For the Culture 
• Visit his website and follow him on Instagram 

Connect with Julien and Kiersten on our website, Instagram, Twitter, and YouTube.

Join our email list to get updates from us, opportunities for discounts, freebies and a quick rundown on the relevant financial and career news impacting your life.

Get our book Cashing Out: Win the Wealth Game by Walking Away, named 2023 best overall book about investing by Business Insider and one of the best personal finance books by Forbes

If you would like to learn more about investing, check out our newest class, Making Money Grow