They target the poor, not the rich. Buying designer brand products can trap you in a cycle of chasing status, sinking debt, and losing out on the chance to build real wealth. Let’s talk about why designer brands will keep you poor.
In this video essay, we’re talking about how designer brands, from Hermes to Louis Vuitton to Rolex, are bad for your financial health. Spending money on designer items comes at a cost to your bank account and to our planet. These flashy brands create a fake illusion of wealth, but are they what actual wealthy people buy?
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If you like this video, check out these other video essays on money & society!
– How Consumerism Ruins Our Planet and Finances:
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– Influencers Don’t Care If You Go Broke:
00:00 The Birkin Bag
01:59 We seek manufactured status
03:17 Keep you poor
03:35 Targeting the poor
05:28 ‘Millionaire Next Door’
06:08 Celebrities wear designer though, right?
07:15 Preying on those who can’t afford
07:53 The ‘Pretty Woman Effect’
09:19 Trapped in the cycle of chasing
10:33 Intention living
10:56 Designer brands wastefulness
12:12 Fashion industry is a menace to our planet
14:12 Climate change impact on poverty
14:44 “Investment Pieces”
16:29 Designer bag vs Stocks
18:31 Final thoughts
Want to read more? Here were some of the sources I used while researching for this video:
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