Why is it so hard to break bad money habits?
Doug Hoyes and Ted Michalos dig into the psychology of impulse buying, the powerful influence of marketing on buying decisions, and the easy-purchase pathway spending cycle that keeps so many people stuck. They share personal anecdotes from decades in the insolvency industry and provide real-world strategies for building sustainable financial habits.
(0:00) – Has Ted ever regretted an impulse buy?
(4:30) – Marketing tactics: how fear and urgency drive sales
(8:00) – Spending triggers: product placements and targeted ads
(11:00) – The Influencer Effect
(15:00) – Easy purchase pathways encourage overspending
(17:30) – Debt is normalized by society
(19:30) – Resisting change: people are creatures of habit
(21:00) – Practical tips to curb spending and build better habits
(23:30) – How reflection and mindfulness can change your financial future
Dealing With Debt When Living Paycheque to Paycheque
Needs vs. Wants – A Budget Should Balance Both
Break The Payday Loan Cycle
Debt Repayment Calculator
Debt To Income Ratio Calculator
FREE Credit Rebuilding Course
‘Debtasized’ Full Length Documentary – Free on YouTube
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