How to overcome the common addiction people have with spending money on unnecessary things and gain control over your finances!!



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Chapters

00:00 Start Here
01:08 Chapter 1: From Scarcity To Abundance
02:54 Chapter 2: The Age Of Easy Pleasure
04:50 Chapter 3: The Pain/Pleasure Seesaw
06:51 Chapter 4: Returning To Equilibrium
09:05 Chapter 5: Overcoming Emotional Obstacles


If you have trouble spending too much money on unnecessary things, it is not your fault. We live in a world that our brains weren't wired to live in, which has made addiction a very normal thing. In this video, I analyze this addictive world that we live in and how to overcome it to have a better relationship with money.

Chapter 1: From Scarcity To Abundance

In order to understand why it's so hard to stop spending money, it is good to look at our past. For the majority of the history of humanity, we lived in a time of scarcity and hardship. This made us be motivated to seek out pleasure and get it while we can. The problem now, however, is that we live in a world with an abundance of pleasure and when we get too much pleasure it starts creating problems in our lives. People end up spending too much money on unnecessary things because our primitive brains are telling us that pleasure is good.

Chapter 2: The Age Of Easy Pleasure

For most of human history, pleasure was very hard to come by and took a lot of effort to get, which was good because it gave us drive to keep moving. Now, however, it's very easy to get and we overindulge in pleasure, which creates an addictive behavior. This addictive behavior makes you constantly need to spend more and more money to get pleasure to the point that you can no longer control your spending. To overcome the addiction, it is important to understand how addictions work.

Chapter 3: The Pain/Pleasure Seesaw

In the book, "Dopamine Nation," the author talks about something called, "The pleasure/pain seesaw." Naturally, when we're at our resting state, our pain and pleasure should be balanced, but when we seek pleasure, it moves the seesaw up. In order to come down, we must experience some pain. However, as we seek more and more pleasure through spending money, our resting state is pain. We feel the urge to spend more and more to both get pleasure and combat pain. In order to stop spending money, you must move back to equilibrium.

Chapter 4: Returning To Equilibrium

In order to return to equilibrium, there are two solutions. The first is to abstain from pleasure for two to four week, which will give you time to detox from pleasure and move back to a balanced life. The second is to intentionally seek pain like exercising or taking a cold shower because after pain comes pleasure. These strategies can help you move back to equilibrium.

Chapter 5: Overcoming Emotional Obstacles

As you try to break your addiction to spending money and create a better relationship with your finances, there are four obstacles you might encounter. The first is prioritizing long term rewards because when we spend money, we are often only focusing on short term rewards. If you write down long term rewards, you can be more motivated. The second is recognizing and accepting your behavioral patterns. When you address your spending problem, you can recognize your bad habits and start to change. The third is isolation where we might feel the urge to spend money to combat loneliness; however, we should instead focus on developing human relationships for support. The forth is escapism where we spend money to escape the mundane world, but if we instead try to develop hobbies and passions, we can find ways to make the world more interesting.

When you overcome those obstacles, you will move back to equilibrium and think more rationally, which will allow you to have a better relationship with your finances.

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