تدريب Shadowing: The 'Luxury Poverty' Trap, Explained - تعلم التحدث بالإنجليزية عبر الفيديو
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How did we get to a world in which people will spend thousands of dollars on clothes,
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handbags, and designer items, but in the same breath claim that they're too poor to ever buy a house?
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Did things like home just become way too expensive?
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Or did getting married, having kids, and building a comfortable life just become plain unimportant?
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Or have the marketers just manipulated our brains into thinking that true wealth is hidden in the things you consume, not necessarily the things you own.
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But this isn't actually about being poor.
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It's about a hidden four-part formula that's dragging millions of Gen Z into a luxury poverty trap.
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And it all starts with why we actually buy things.
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As a society, we no longer spend money purely out of necessity.
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Even though the majority of Gen Z millennials talk about the constant struggle of living paycheck to paycheck, it doesn't really show in the lifestyle they're living.
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But in order to understand this, we first need to explain how products even get their value, because it's not as simple as putting a price tag on something and waiting for someone to buy it.
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In fact, the concept of value dates back to the 18th and 19th century, and more specifically, Karl Marx's book Capital.
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In the book, Marx describes the two forms of value an object might have and how they would affect the price.
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First, you have use value, which is the simple concept that the usefulness of an item directly dictates the capacity
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that object will have in satisfying a human need.
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For example, a coat that keeps you warm.
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The use value of the coat is that it keeps you warm, so to determine how much it can be valued at, you first need to decide how valuable staying warm is.
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In other words, an object has use value if it can do something for you.
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On the other hand, Marx also defines exchange value, which is pretty much what it sounds like.
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Basically, the exchange value of an item is the quantitative worth an object would have in the market, which is usually found in terms of money.
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If you buy a coat for $200 or trade a $200 pair of shoes for it, that is the exchange value.
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It's not necessarily tied to the usefulness of the item, just the relative market value or what people are willing to pay for it today.
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But in the 1960s, economists developed a new term to explain value.
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They argued that an item could also have functional value, which refers to the practical performance of a product or service.
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So if one coat is better at keeping you warm than another, you would assign a higher functional value to the better performing coat.
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All three of these definitions of value are fairly utilitarian and make sense on the surface.
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And at the base of all of them, the better an item meets your needs for a specific purpose, the higher its value.
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But in the 1970s, a French philosopher, Jean Baudrillard, developed a new concept.
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He argued that in late stage capitalism, consumption is less about use and exchange and more about signs and social meanings.
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For example, Canada Goose Parkas were originally built purely for function.
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Founded as Metro Sportswear in 1957, they didn't even make jackets for themselves.
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Instead, they were a manufacturer for brands like L.L.
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Bean and Eddie Bauer.
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In the 1970s, they started making their signature goose feather parkas and changed their name to Snow Goose.
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But even then, they were purely built for extreme performance like summiting Mount Everest or Arctic expeditions.
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However, through some ingenious marketing by CEO Danny Rice beginning in 2001,
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the rebranded Canada Goose slowly worked its way into every corner of American luxury.
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And with that change, the Canada Goose parkas were no longer sold for function.
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Instead, people now buy them as luxury fashion statements and what it says about them.
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In other words, if you're wearing a Canada Goose, you must be a big deal.
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And this extends beyond just parkas.
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It's the same thing that happened with Rolex watches, Ramoa bags, and even gym memberships like Equinox.
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If you're looking for a place to work out, there are far cheaper options.
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But joining Equinox isn't just about working out.
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It's about becoming an Equinox member and what that says about you.
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And by buying these products and joining these memberships, we can become part of these luxury groups and be perceived as higher status.
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But here's the thing.
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Projecting wealth has been around forever, so why is it so much more destructive for Gen Z now?
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If all of this sounds ridiculous, it's because it is.
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We're convinced to spend thousands of dollars consuming other brands using the sign value psychology trick
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when we could be using it to become a producer instead of a consumer.
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And this is where Printful comes in.
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Printful is a print-on-demand platform that lets you turn your ideas into real products.
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Whether it's a shirt, hoodie, poster, or mug, you can make just about anything.
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In fact, let me show you how easy it is to get set up.
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First, I'm going to head over to Printful's website and sign up.
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As you can see, there are tons of options to choose from, but I'm gonna go with a simple t-shirt to get started.
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All I have to do is upload my design, check how it looks, and make any adjustments.
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Afterwards, I can connect to my store like Shopify or Etsy and publish the created products.
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And boom, just like that, my new design is on my website and available to purchase right now.
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I don't need to wait for any inventory to show up or worry about how I'm going to ship everything out.
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Printful takes care of all of that, so I can just focus on the marketing and the designs.
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These aren't just cheap t-shirts with graphics either.
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Printful sources the highest quality products and prints.
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In fact, even huge brands like Spotify and CBS use Printful for their merchandise.
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So if you've ever had the itch to start a business or create something of your own, this is one of the best ways to get started.
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Use the link in the description below to head over to Printful's website and start creating your brand.
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Thank you again to Printful for sponsoring today's video.
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Now let's take a look at some data.
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When you take a look at this graph, you'll see a couple things.
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First, the thing we see all around us, the price of food, housing, and college have all increased by over 100%, while the price of computers,
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toys, and televisions have all decreased over the last 20 years.
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This isn't really new news to any of us, but it is the core explanation to the luxury poverty paradox we're seeing today.
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As the prices of necessities have increased and also completely outpaced wages, more and more young adults are beginning to just give up on the traditional milestones of the past.
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Buying a house feels next to impossible, cars are more expensive than ever, and having kids sounds like a terrible idea because you won't be able to afford anything.
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All while inflation is running wild and wages can't keep up with the rising costs.
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Which leads most young adults to take on a live for the moment mentality because in their head, there is no realistic timeline on when they can afford something like a house.
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So they just opt to spend the money today.
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After all, you might as well enjoy the fruits of your labor while you're young.
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And the companies know this.
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That's why all of their marketing is based on you enjoying the moment and treating yourself.
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In fact, we even have young adults who have only worked a job for two years, taking six months off from work for their mental health.
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It's called my career time.
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Or spending thousands of dollars on vacation because they deserve it.
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When in reality, they haven't actually done anything.
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Their decision-making is entirely based on the here and now versus thinking about their future self.
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They don't think about their future family, their grandkids, or their legacy.
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All they are concerned about is the immediate gratification that will satisfy their wants and needs today.
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There is no discipline involved, and they point to the high prices as their reasoning for not trying, and since they can't afford a house anytime soon,
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they might as well treat themselves to that luxury vacation because that's what's within reach today.
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But I don't say this as a dig on all young adults because to some extent, they've been manipulated more than any generation before.
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We are constantly taking in hyper-targeted marketing that is psychologically built to get you to buy.
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Brands are better than ever before at figuring out what you might buy, why you might buy it, and how to push you as hard as possible to do that.
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And truthfully, it takes a lot of discipline to resist the urge to buy things.
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Yes, the boomers are right by saying just don't buy it, but I think they forget the effect that brain development can have on young adults and their spending habits,
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especially if you're constantly surrounded by bad influences.
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And as today's world becomes more and more expensive, brands are finding ways to make it appear cheaper and cheaper
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so they can continue pulling money out of your wallet any way possible.
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Over the course of 24 hours, you are likely to see between 4,000 and 10,000 ads, which is honestly insane if you think about it.
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Most of those ads aren't just random things either.
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They are specifically placed on your social media feed because the algorithm thinks you are the most likely to buy.
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And I'm willing to bet that most of them will be around some form of luxury, high-end, visibly expensive item, even if it isn't actually a high-quality item.
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Everything is marketed as luxury these days because luxury sells.
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Every apartment building that's being built in your city is the new luxury living center, and every new clothing brand is luxury athleisure, luxury office wear, or timeless luxury pieces.
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But as everything becomes luxury, is anything actually luxury?
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And does that give the brands the right to charge true luxury prices for things that just don't justify it?
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Well, that returns us back to the argument of sign value.
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If the brands can convince you that the value of the item is found in the way you are perceived, then it doesn't really matter about the quality or function.
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And as young adults are looking for more ways to spend money, the brands have gotten even more creative in the way that they pitch you on that high price.
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Because instead of pushing the idea of ownership, we're inundated with ways to lease, rent, or subscribe to things.
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I mean, think about it.
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Most people used to buy their cars in all cash or buy a VCR movie to watch at home.
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Now, everything is a monthly cost.
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You lease your cars, you subscribe to Apple TV, and you pay for a monthly meal subscription.
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We are spending hundreds of dollars every month for things that we used to just buy once.
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And when you bought it once, you put a lot more thought into that purchase.
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Take your car as an example again.
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If you were going to spend $50,000 in cold, hard cash on a new car, you'd probably put a lot of thought into whether or not it was the right decision.
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But when you're pitched a $650 lease payment every month, you lose sight of the bigger picture.
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And it's trained us to look at everything from a monthly
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expenditure point of view instead of an overall cost point
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which leads to the overspending on dumb things because you're not feeling the immediate pain.
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To make matters worse, credit card companies and buy now, pay later programs offer even more ways to earn your reward today and delay the pain to tomorrow.
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And the endless cycle of spending without ownership leads to a constant cash outflow
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that prevents any equity from being built in your personal finances.
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But it also leads to the most painful part of the luxury poverty trap, a part that is secretly destroying the very individuals that think they are immune to it.
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We got a good income of about $185,000, $190,000 a year feels like
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at the end of the month we just have nothing left
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this problem right here is one of the biggest issues with
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our society today there are lots of people making arguably good money
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that feel like they are falling behind
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and living paycheck to paycheck you'll see them sometimes described as henry's
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which are high earners not rich yet in other words they're
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trapped between two worlds they're earning too much to be considered poor
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or to have zero financial security
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but they're not making enough yet to be truly financially free to spend as they please with no repercussions.
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So they're stuck working constantly and waiting for the next promotion or bonus to hit their bank account.
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All while there's no separation between their life and work, typically forcing them to use debt to maintain a certain image.
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But because of the salary shown on their pay stub, they feel like they should be able to afford all these little luxuries in life.
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And the brands and corporate marketers use that to their advantage.
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When luxury brands first started popping up around the world, they didn't really care about the average person.
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In fact, the sales associates were often told to completely ignore you if they knew you weren't one of their regulars, or they would just deny entry at the door.
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Originally, they did this as a way of filtering out non-buyers, but what they found was this is exactly what made arguably broke people want to buy even more.
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In fact, there's a name for it, the Pretty Woman Effect.
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In short, a study done at the University of British Columbia found
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that customers treated by a sales associate with a bit of
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an attitude actually made them more likely to purchase a designer good.
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Now, Now it is important to note
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that this effect only works in a store that customers would actually aspire to own product from one day.
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So the attitude you get from the cashier at Walmart isn't some insider sales tactic used to get you to buy more.
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But when done in a luxury store like Rolex or Gucci, the snobbiness of a sales associate actually makes customers feel like they're back in high school.
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And what is the one thing that high schoolers care about?
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Popularity and the desire to belong.
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So when a sales associate snubs their nose at you, most people are naturally inclined to purchase the expensive item to prove
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that they belong in the store and can afford the item, even if they actually can't.
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But true wealth isn't actually shown in the things you wear or the things you buy.
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It's centered on the freedoms you have in life.
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And through luxury poverty, Gen Z has been trapped in this illusion of freedom of expression while throwing away their future lives, all in the name of living for today.
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That said, it isn't entirely hopeless.
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At one point or another, every generation has gone through a wealth transfer or large dip in the economy.
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And truthfully, it has never been easier to level up your skills and make more money than it is today.
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So if you're stuck in the luxury poverty trap and looking for a way out, lock yourself down mentally and stop spending.
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Take the next three months to invest all of your extra
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time in leveling up your skills to make yourself more valuable and find ways to earn more.
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Because if you take responsibility for yourself and the outcomes that follow, you can reach true financial freedom.
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YouTube thinks you might like this video next, let's see if they're right.
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أنت تتدرب على اللغة الإنجليزية باستخدام "The 'Luxury Poverty' Trap, Explained" مع تقنية الـ Shadowing.
ما هي تقنية التظليل الصوتي؟
التظليل الصوتي (Shadowing) تقنية تعلم لغة مدعومة علمياً، طُورت أصلاً لتدريب المترجمين الفوريين المحترفين. الطريقة بسيطة لكنها قوية: تستمع لصوت إنجليزي أصلي وتكرره فوراً بصوت عالٍ — كظل يتبع المتحدث بتأخير 1-2 ثانية. تُظهر الأبحاث تحسناً كبيراً في دقة النطق والتنغيم والإيقاع وربط الأصوات والاستماع والطلاقة.