15 Things Poor People Waste Their Money On (Backed by Economics) | The Economics of Wealth Ep.2

Most people think poverty is just about income — but economics tells a deeper story. In this episode of The Economics of Wealth, we explore 15 ways people unknowingly waste money and how psychology, marketing, and economic behavior keep millions trapped in the same cycle. These insights aren’t about blaming — they’re about understanding why we make bad money decisions and how to escape them. Backed by real research and inspired by financial thinkers like Warren Buffett and Robert Kiyosaki, this video reveals the hidden economics behind everyday spending. 💰 Watch until the end — #15 is the most common mistake of all. Subscribe for more episodes every week from EcoPolo. Key Sources: https://www.fns.usda.gov/research/sna... https://www.hamiltonproject.org/publi... https://www.ajmjournal.com/HTMLPaper.... https://poverty-action.org/study/usin... 0:00 – Intro 0:13 – 15 things (Habits) that can trap people financially 0:30 – Habit #1: Brand Addiction 0:49 – Habit #2: Lottery Tickets 1:04 – Habit #3: Fast Fashion. 1:18 – Habit #4: Unused Subscriptions 1:32 – Habit #5: New phones every year 1:47 – Habit #6: High-Interest Debt 2:01 – Habit #7: Eating Out Constantly 2:17– Habit #8: Smoking and Vaping 2:34 – Habit #9: Payday Loans 2:49 – Habit #10: Flashy Cars 3:03 – Habit #11: In-Game Purchases 3:15 – Habit #12: Unused Gym Memberships 3:28 – Habit #13: Constant Gifting and Social Events 3:42 – Habit #14: Rent-to-Own Deals 3:55 – Habit #15: Not Investing 4:15 – Recap 4:37 – Outro #economics #globalfinancialsystem #wastemoney #financialplanning #economicgrowth #habitstoavoid