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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? Want more videos on money, media, society, and intentional living? Be sure to subscribe for more video essays! Want to support this channel? Donate here!: My Monthly Budget & Spending Tracker: Get $100 off LLC formation to start your business (via BetterLegal): #videoessay #videoanalysis #personalfinance #designerbrands #tiktok #moneymanagement #consumerism If you like this video, check out these other video essays on money & society! - How Consumerism Ruins Our Planet and Finances: - The Dangers of 'Stay at Home Girlfriend' and 'TradWife' Culture: - Influencers Don't Care If You Go Broke: Time Stamps: 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:
