FOMO Drives Impulse Spending FOMO Drives Impulse Spending (image credits: pixabay) Social media platforms are like a never-ending parade of luxury and exclusivity. Every swipe, tap, or scroll can bring up images of lavish vacations, high-end gadgets, and the hottest fashion trends. This constant exposure to curated content significantly amplifies the Fear of Missing Out, ...
When you hear about generational wealth, it might seem like an unattainable dream, something only the ultra-rich can achieve. But the truth is, many families strive to build and preserve wealth to pass down to future generations. However, the path to maintaining this wealth isn’t always straightforward. In fact, the majority of families face struggles ...
More Money Boosts Happiness—But Only to a Point More Money Boosts Happiness—But Only to a Point (image credits: pixabay) It’s a common belief that more money leads to more happiness, but research suggests there’s a limit to this. Studies indicate that happiness tends to increase with income, but only up to a certain threshold—typically around ...
Explosion of Financial Content Explosion of Financial Content (image credits: pixabay) Social media platforms have evolved into bustling hubs for financial advice, where influencers dominate the scene with content on investing, budgeting, and the ever-volatile world of cryptocurrency. Platforms like YouTube, TikTok, and Instagram have become the new-age classrooms for anyone looking to dip their ...
Financial Stress Increases Anxiety and Depression Financial Stress Increases Anxiety and Depression (image credits: flickr) Financial stress is a formidable adversary, often creeping into our lives uninvited and unwanted. Studies indicate that when people are besieged by financial difficulties, they are more prone to experiencing anxiety and depression. This is primarily due to the uncertainty ...
Wealth Was Once Measured in Land, Not Money Wealth Was Once Measured in Land, Not Money (image credits: pixabay) In the tapestry of history, land has often been the thread that weaves the fabric of power and wealth. Ancient civilizations saw land as the ultimate measure of wealth. Kings, emperors, and feudal lords who controlled ...
Massive Increase in Clothing Production Massive Increase in Clothing Production (image credits: pixabay) The fashion industry has witnessed an unprecedented surge in clothing production, with over 100 billion new garments being produced every year. This staggering number translates to nearly 14 items per person across the globe. This overabundance of clothes not only leads to ...
Cash to Crypto: How Society Is Adapting to a Cashless World In recent years, we have witnessed a remarkable shift in how we handle money. Society is increasingly moving away from physical cash, embracing digital payments and cryptocurrencies. This transformation is reshaping economies and influencing consumer behaviors worldwide. As we delve into the various aspects ...
Materialism vs. Minimalism Materialism vs. Minimalism (image credits: unsplash) In many wealthier nations, the concept of success is often intertwined with material possessions. People in these societies may measure their worth through the accumulation of goods, such as luxury cars or large homes. This drive for materialism is frequently fueled by a consumer-driven economy that ...
Emotional Triggers Drive Spending Emotional Triggers Drive Spending (image credits: pexels) Emotions are powerful drivers of human behavior, and spending is no exception. When people experience happiness, stress, or sadness, they often turn to shopping as a form of emotional release. This phenomenon is commonly known as retail therapy. The act of buying something new ...
Jack Smith, B.Sc. Economics
Chris Divay, B.Sc. Finance
Chris Divay, B.Sc. Finance