The Marketing of Debt, How They Get You

The general take

Shankar Vedantam presents the book as focusing on the psychological side of money management—not just financial mechanics, but the external pressures that push people toward bad decisions. The core idea is that resisting those temptations is as important as understanding the theory of good money habits.

About

Why do people struggle so much with debt? The truth is, we are psychologically pre-disposed to mis understanding it. We underestimate the cost of debt and overestimate our ability to pay. Not only do marketers of credit cards and loans know this, but they also exploit these psychological blind spots to get us deeper in hock. The Marketing of Debt: How They Get You is an irreverent look at the financial services industry and the psychological research on decision-making related to debt. Topics include resisting temptation and refocusing on long-term goals, how money lenders hide pricing, partitioned pricing, drip pricing, the issue with status branded credit cards, and taking scientifically proven steps for making better financial decisions.

Who said what

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  Shankar Vedantam💬 Mentioned

  …discussing john dinsmore's book on psychology of debt and financial decision-making

  “In his book, The Marketing of Debt, How They Get You, John Dinsmore says that being good with money isn't just about knowing what to do on paper. It's also about resisting the forces that lure us into self-sabotage.”

  Hidden Brain — The Debt Trapat 50:37

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