How Consumerism Ruins Our Planet and Finances

Summary

The video script discusses the pervasive issue of mass consumption and its impact on individual finances, mental well-being, and the environment. It highlights the staggering amount of advertisements individuals are exposed to daily and the societal pressure to continuously acquire more goods. The speaker emphasizes the financial burden of unnecessary spending, the environmental toll of consumerism, and suggests adopting minimalist and sustainable practices as a means to break free from the consumption cycle, ultimately leading to a more fulfilling and financially secure lifestyle.

Takeaways

• 📈 The average person encounters an estimated 6,000 to 10,000 advertisements daily, a significant increase from previous decades.
• 💰 Mass consumption and consumerism lead to an oversaturated culture and increased spending, affecting personal finances and the environment.
• 🛍️ Americans spend an average of $18,000 on non-essentials annually, which could be better utilized for long-term investments or savings.
• 🔪 Impulsive and unnecessary spending, such as on subscription boxes, takeout, and impulse buys, contribute to mass consumption habits.
• 🏡 The convenience culture and easy access to purchasing goods online perpetuate a cycle of consumption and financial strain.
• 💸 Even high-income earners, like 60% of millennials making over $100,000, live paycheck to paycheck due to a lifestyle of consumption.
• 🚗 The desire to keep up with societal norms and media influences often results in purchasing more than necessary, leading to a cycle of work and consumption.
• 🌍 Consumerism has a significant environmental impact, with Americans discarding 81 pounds of clothing and 26 million tons of plastics annually.
• 🌱 Rejecting mass consumption can lead to financial savings, mental peace, and a healthier planet by reducing the need to constantly buy and dispose of items.
• 🔄 To break the cycle of overconsumption, consider redirecting funds towards meaningful experiences and adopting minimalist and sustainable practices.
• 📅 The video essay encourages viewers to try living with less consumption for 30 days to experience potential benefits and consider long-term lifestyle changes.

Q & A

What is the estimated number of advertisements the average person encounters daily in 2021?

The average person is estimated to encounter between 6,000 to 10,000 advertisements every single day in 2021.

How has the number of advertisements we see daily changed from the 70s to 2021?

The number of advertisements we see daily has doubled from what it was in 2007 and increased by 12 times compared to what people saw in the 70s.

What does the term 'mass consumption' or 'consumerism' define in the context of the script?

Mass consumption or consumerism is defined as the preoccupation of society with the acquisition of consumer goods, where we're constantly being told to buy more, want more, and have more.

How has the culture of consumerism and easy purchasing options affected consumer spending?

The culture of consumerism and the ease of purchasing goods has led to an enormous increase in consumer spending over the past several decades.

What is the average annual non-essential spending of Americans according to a 2019 report by USA Today?

Americans spend an average of $18,000 on non-essentials every year, as reported by USA Today in 2019.

What are some examples of unnecessary mass consumption highlighted in the script?

Examples of unnecessary mass consumption include $108 a month on impulse purchases, $94 on subscription boxes, and $178 on takeout or delivery.

How does the script suggest we can improve our financial health and overall lifestyle?

The script suggests trimming and redirecting non-essential spending towards more meaningful long-term investments, practicing minimalism, and focusing on experiences rather than material possessions.

What is the environmental impact of mass consumption?

Mass consumption takes a significant toll on the environment, with examples including Americans throwing away an average of 81 pounds of clothes and textiles annually and the disposal of about 26 million tons of plastics each year.

How can rejecting mass consumption contribute to a better planet?

Rejecting mass consumption can reduce the environmental toll by decreasing the demand for goods, which in turn lessens waste production and the exploitation of natural resources.

What advice does the script offer for those interested in adopting a less consumerist lifestyle?

The script advises trying out a simpler lifestyle for 30 days, focusing on experiences over possessions, and finding joy in non-material aspects of life as a way to begin rejecting mass consumption.

How does the script relate personal finance and sustainability to the topic of consumerism?

The script relates personal finance and sustainability to consumerism by highlighting how reducing consumption can improve financial health, mental peace, and have a positive impact on the environment.

Outlines

00:00

💸 The Impact of Consumerism on Personal Finance

This paragraph discusses the pervasive nature of advertising in modern society, with the average person encountering thousands of advertisements daily. It highlights the increase in consumer spending over the decades, driven by a culture of mass consumption and the societal pressure to acquire more goods. The speaker expresses concern about the financial implications of this lifestyle, citing statistics on average annual spending on non-essentials by Americans. The paragraph emphasizes the need to reevaluate spending habits and suggests redirecting funds towards more meaningful long-term investments rather than impulsive purchases.

05:01

🌍 Rejecting Mass Consumption for a Sustainable Future

The second paragraph focuses on the environmental impact of consumerism, noting the significant waste generated by Americans in terms of clothing and plastic disposal. It argues that the consumer appetite is undermining natural systems and exacerbating poverty. The speaker advocates for a shift in consumption habits, suggesting practical alternatives such as buying less, choosing quality over quantity, and valuing experiences over material goods. The paragraph concludes with a call to action, encouraging viewers to try a simpler lifestyle for 30 days and share their experiences, while also promoting the channel's mission to explore topics like personal finance and sustainable living.

Keywords

💡Mass Consumption

Mass consumption refers to the societal preoccupation with the acquisition of consumer goods. In the video, it is depicted as a driving force behind the constant desire to buy more and keep up with societal expectations, leading to financial strain and environmental impact. The speaker criticizes this culture, suggesting that it results in overspending on non-essentials and contributes to a cycle of constant need for money to fuel more consumption.

💡Consumerism

Consumerism is the belief that a society's economic success is based on the consumption of goods and services. In the context of the video, consumerism is portrayed as a cultural norm that encourages individuals to continuously purchase and accumulate material possessions, often leading to dissatisfaction and financial stress. The speaker argues for a shift away from this mindset towards a more sustainable and minimalist approach.

💡Sustainability

Sustainability refers to the practice of meeting current needs without compromising the ability of future generations to meet their own needs. In the video, the concept is linked to the idea of rejecting mass consumption and adopting a lifestyle that minimizes environmental impact. By consuming less and choosing products that are eco-friendly, individuals can contribute to a healthier planet.

💡Minimalism

Minimalism is a lifestyle that emphasizes the importance of owning fewer material possessions and focusing on experiences and activities that bring value and happiness. In the video, minimalism is presented as an alternative to the consumerist culture, promoting a simpler way of living that can lead to financial freedom and a more fulfilling life.

💡Environmental Impact

Environmental impact refers to the effects that human activities have on the natural environment. In the video, it is discussed in the context of how mass consumption and consumerism contribute to pollution, waste, and depletion of natural resources. The speaker argues that by reducing consumption, individuals can lessen their environmental footprint and help preserve the planet for future generations.

💡Financial Health

Financial health refers to an individual's or household's ability to manage their financial obligations and meet their financial goals without incurring debt or financial stress. In the video, the speaker connects financial health to the concept of rejecting mass consumption, suggesting that by spending less on non-essential items, individuals can improve their financial stability and achieve financial freedom.

💡Impulse Purchases

Impulse purchases are unplanned buying decisions made without prior consideration or research. In the video, impulse purchases are identified as a significant aspect of mass consumption, often leading to unnecessary spending and financial strain. The speaker encourages viewers to be mindful of such purchases and consider redirecting that spending towards more meaningful experiences.

💡Lifestyle Consumption

Lifestyle consumption refers to the pattern of acquiring and using goods and services that reflect and support an individual's desired way of living. In the video, the concept is used to critique a culture where keeping up with the latest trends and owning a multitude of possessions is seen as a status symbol, leading to financial instability and dissatisfaction.

💡Advertising

Advertising is the act of promoting products, services, or ideas through various media channels to influence consumer behavior. In the video, advertising is presented as a key factor contributing to mass consumption, with the average person encountering thousands of ads daily. The speaker suggests that this constant exposure to advertising messages encourages a culture of buying more and wanting more.

💡Financial Freedom

Financial freedom is the state of having enough savings and investments to cover all current and future expenses without having to work actively for money. In the video, financial freedom is linked to the idea of rejecting mass consumption and living a more minimalist lifestyle. By spending less on non-essentials and focusing on building financial security, individuals can achieve a state where they are not reliant on a paycheck to cover their expenses.

💡Joy and Excitement

Joy and excitement are feelings of great pleasure and enthusiasm. In the context of the video, these emotions are contrasted with the temporary satisfaction derived from material consumption. The speaker argues that true and lasting joy can be found in experiences, relationships, and a lifestyle that values simplicity and sustainability over the constant pursuit of material goods.

Highlights

The average person is estimated to encounter 6,000 to 10,000 advertisements every day in 2021.

This is double the number of advertisements we'd have seen in 2007 and 12 times more than in the 70s.

Mass consumption is defined as the preoccupation of society with the acquisition of consumer goods.

American consumers are influenced to buy more, want more, and have more, suggesting that their current possessions are insufficient.

Increased consumer spending is linked to the rise of mass consumption and its influence on personal finances.

The video essay aims to discuss the impact of consumerism on personal finance, joy, and the environment.

Americans spend an average of $18,000 on non-essentials every year, according to a 2019 report.

Impulsive purchases, subscription boxes, and takeout or delivery contribute significantly to non-essential spending.

The speaker advocates for trimming and redirecting non-essential spending towards more meaningful long-term investments.

Mass consumption culture promotes convenience and easy purchasing, leading to a cycle of spending and needing more money.

Sixty percent of millennials earning over $100,000 a year live paycheck to paycheck due to a lifestyle of consumption.

Rejecting mass consumption can lead to financial health and freedom, reducing the need to live paycheck to paycheck.

The environmental impact of consumerism is significant, with Americans disposing of 81 pounds of clothes and textiles annually.

Global consumer appetite is undermining natural systems and exacerbating environmental problems.

Changing consumption habits can contribute to a more sustainable and minimalist approach to life.

The video encourages viewers to try living with less consumption for 30 days to experience potential benefits.

The channel focuses on personal finance, money management, and living intentionally, with plans to cover topics like impulse shopping and the influence of social media on finances.

Transcripts

why don't you let me fix you some of

this numo coco drink all natural cocoa

beans from the upper slopes of mountain

nicaragua no artificial sweeteners what

the hell are you talking about

in 2021 the average person is estimated

to encounter 6 000 to 10 000

advertisements every single day this is

double the number of advertisements we'd

have seen in 2007 and 12 times more than

what people were seeing in the 70s we

encounter ads everywhere on tv instagram

facebook tick tock magazines and spotify

there's a very good chance you had an

advertisement before or around this very

video i bring up this overwhelming

advertisement driven lifestyle we're

living because it hints at the larger

concern that i have with our current way

of life

mass consumption consumerism is defined

as the preoccupation of society with the

acquisition of consumer goods we're

constantly being told to buy more want

more have more that what you have now is

not enough that maybe if you just bought

this one product or service your

problems would be solved we want more we

want more like you really like it you

want more

i follow you this messaging paired with

an oversaturated culture of consumerism

and increasingly easier ways to purchase

goods at the touch of your fingers has

led to an enormous increase in consumer

spending over the past several decades

which i believe has in turn greatly

affected our collective finances joy and

environment that's why i wanted to make

this video essay today my channel is all

about trying to live your best life by

leveraging personal finance and living

intentionally while also incorporating

elements of sustainability and

minimalism which makes this topic of

consumerism so very relevant to me if we

can cut down on our consumption and

escape this cult of buying more that has

been drilled into us from years and

years of advertisements then i believe

we can help save our wallets our peace

of mind and our planet all at the same

time so first off let's talk money mass

consumption is really expensive on an

individual level usa today reported in

2019 that americans spend an average of

18 000

on non-essentials every year that is a

whole down payment on a house or a

master's degree that you could pay for

or an entire year's worth of rent in a

really nice apartment bottom line that

is a lot of money in that same usa today

article they break down what type of

buckets of non-essential spending people

are devoting their money to here's the

chart so that you can see all of it but

i wanted to highlight a few items that

stood out to me 108 dollars a month goes

to impulse purchases about 94 goes to

subscription boxes and about 178

goes to takeout or delivery that is a

nearly 400 example of unnecessary mass

consumption that is hurting people's

wallets every single month that's not

even beginning to touch on the other

artifacts of mass consumption that we

see in that breakdown such as coffee

every day bottled water multiple

streaming services and online shopping

now you've got the idea put plenty of

coke in that refrigerator one for you

one for me

i love it

i got us a little something too yeah yep

one for you

and one for me and look i'm not saying

you need to cut all non-essential

spending from your life some

non-essential spending can really make a

fun time like if i want to go to the

cheesecake factory with my friends i'm

probably going to do that every once in

a while i love my good i have a

chocolate cheesecake but what i think we

need to start doing is instead of

cutting it all out just starting to trim

it and redirect it using that money for

things that are going to be more

meaningful in the long term rather than

buying things that we just want

impulsively and that we probably don't

need in our lives i think it's really

important for people including myself to

try to break out of these habits of

buying things impulsively or things that

we don't need or aren't going to use in

the long term because all of that is a

product of the mass consumption culture

that we live in our culture promotes

convenience whether that's the

convenience of getting your food

delivered to your doorstep despite

almost doubling the cost sometimes or

whether it's the ease in which you can

purchase just about anything with a

click of a button on amazon but what

happens is we get trapped in a cycle of

consumption which keeps us desperate for

money so we can continue to buy more

things i saw a stat the other day that

blew my mind and it was that sixty

percent of millennials who earn one

hundred thousand dollars or more a year

are living paycheck to paycheck which is

wild and a lot of reason for that is

because of lifestyle a lifestyle of

consumption where buying expensive

things or just simply buying a lot of

things is the norm here in my garage

just bought this uh new lamborghini here

fun to drive up here in the hollywood

hills people get a rush when they buy

something new and for some it helps them

feel like they're keeping up with their

friends or the people they see online

but all of that is a fantasy companies

and media influence you to buy more

things which in turn forces you to

continue working to pay for those things

often as an employee at those very same

companies we're like little gerbils on a

wheel just keep on running but we don't

go anywhere we just keep buying things

and then we have to keep working and

you're stuck and you're stuck until you

get off the wheel choosing to turn away

from over consumption is how you escape

that cycle it's about choosing yourself

over products in a lifestyle that's been

fed to you by advertisements and media

and it's about building up your

financial health so that you don't have

to live paycheck to paycheck and that

you can have financial freedom one day

the environmental impact

rejecting mass consumption can

absolutely help your finances because

you're spending less on random stuff

that you don't need and it can help your

peace of mind because you can start to

escape that feeling of comparison and

feeling like you always need to keep up

with other people online or celebrities

or anything like that it's a peaceful

existence when you can start turning

away from consumption but i think an

equally if not more important reason to

reject mass consumption is the

environmental impact

consumerism takes a huge toll on our

planet americans alone throw away an

average of 81 pounds of clothes and

textiles every year that's just for one

person and as a nation we dispose of

about 26 million tons of plastics each

year and the us is not the only country

doing this it's not just their problem

there's so much excess in the world

right now national geographic recently

reported that quote this unprecedented

consumer appetite is undermining the

natural systems we all depend on and

making it even harder for the world's

poor to meet their basic needs and that

quote most of the environmental problems

we see today can be linked to

consumption oh wait did i say that was a

recent report my bad that came out in

2004 so the problem has gotten even

worse since then we have a more

globalized economy and it's easier than

ever to buy things online from all over

the world so it's just exacerbating this

problem of consumption not to mention

our appetite has gotten a lot worse for

consumption because of things like

social media i'm not saying this all to

be alarmist i think we all know the

threats that face our planet right now

when it comes to climate change i know

there's a lot of people and systems that

are to blame for this but i think there

is a way that we can help contribute to

bettering this planet and changing the

culture and that's by changing our

habits around consumption we have to

turn away from the temptations of

consumption instead of buying a new

wardrobe with every new trend that comes

out on tick-tock curate your closet with

staples that are timeless and durable

keep your current phone if it works

instead of lining up to buy whatever new

iphone apple has that year gift

experiences for people instead of

products and start practicing finding

joy and excitement in things that don't

involve spending money and consuming i

don't really blame us for falling into

these habits of consumption because it

was the blueprint that was laid out for

us be a good consumer make companies

money maybe if you buy all these

products they will fill whatever hole is

inside of you i'm not talking about

dildos that i'm realizing now that

sounds like dildos but

any product really mass consumption in

general it makes you feel whole that's

at least the story that we've been told

but it's not true i think there can be

so much fun excitement and benefit to

rejecting mass consumption and adopting

a more simple minimalist and sustainable

approach to life if you're on the fence

about it try it out for a month try just

30 days of living a little bit more

simply and not consuming as much and

then at the end see how you feel see if

you've saved a ton more money and if you

kind of like it and then go from there

and if you're already interested or

you're already doing it that's amazing

and i want to hear what you think in the

comments below so let me know how you've

gone about living a simple life or

rejecting consumerism or what steps

you're hoping to take to get there i

plan to do more video essays like this

in the future from dissecting impulse

shopping to talking about how social

media keeps us poor so if you're

interested in things like that please

subscribe i also post weekly videos just

in general about personal finance money

management living your best life all

those things so if you're not subscribed

please do and if you'd like to support

this channel and the content that i'm

making you can also donate some money

and quote buy me a coffee in the link

below i put it there and i just started

it so feel free to do so but also don't

feel like you have to but thank you so

much for watching i really hope this

video was interesting to you guys maybe

helpful or inspiring um but yeah thank

you again for watching and i will see

you guys next week alright bye