Why do people spend so much of their disposable income on consumption and save so little towards their own financial independence? This episode presents four competing theories that try to answer this question:

• Theory 1: People are brainwashed into consumerism by advertising.
• Theory 2: Spending escalates as people try to keep up with their peer groups.
• Theory 3: Central bank policies have undermined saving.
• Theory 4: Spending is the path of least resistance, so you won't save unless you have sufficient motivation.

Which (if any) of these theories have merit? Is there a better explanation? Let me know what you think! Show Notes:

• Job Free by Jake Desyllas