Built to Borrow: The Hidden Forces Behind Debt w/ John Dinsmore #1031

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!   Want more How To Money in your life? Here are some additional ways to get ahead with your personal finances: Learn more about John and his marketing research here. Knowing your ‘money gear’ is a crucial part of your personal finance journey. Start here.  Sign up for the weekly HTM newsletter. It’s fun, free, & practical. Join a thriving community of fellow money in the HTM Facebook group. Massively reduce your cell phone bill each month by switching to a discount provider like Mint Mobile.   And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money. Have an awesome weekend!   Best friends out!See omnystudio.com/listener for privacy information.