11.07.24 Are You “Doom Spending”? / Be Your Own Health Advocate

The Clark Howard Podcast

Clark Howard

Investing, Entrepreneurship, Business

4.6 • 4.9K Ratings

🗓️ 7 November 2024

⏱️ 34 minutes

🔗️ Recording | iTunes | RSS

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Summary

A trend among young adults economists call “doom spending” is of concern. Clark addresses why this is happening and offers a different perspective. Also today - why it’s so important to be an advocate for yourself when it comes to your health, and Clark is living proof. Costly Pessimism: Segment 1 Ask Clark: Segment 2 YOU Are Your Best Health Advocate: Segment 3 Ask Clark: Segment 4 Mentioned on the show: Should You Ever Lease a Car? CarMax vs. Carvana: A First-Hand Experience Selling a Car in 2024 How To Find a Trustworthy Mechanic We Tried to Shop Our Way to Cheaper Car Insurance. It Didn’t Work. How to Shop for Lower Car Insurance - Clark.com Car Insurance Archives - Clark Howard Axios: AI fuels cancer breakthroughs Future of Health | Medical & Healthcare News Roth vs. Traditional 401(k): What's the Difference? Clark.com resources Episode transcripts Community.Clark.com Clark.com daily money newsletter Consumer Action Center Free Helpline: 636-492-5275 Learn more about your ad choices: megaphone.fm/adchoices Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This podcast is brought to you by Progressive Insurance. Fiscally responsible, financial geniuses,
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0:22.5	states or situations. Using my Berkeley card forward credit card to pay for the stuff I need now
0:27.3	could help build up my credit school for the day I need something bigger. So buying a set of headphones
0:32.2	or waits for my workout smashed it could help in the future when I want to rent my first flat share.
0:39.5	Now that's forward thinking.
0:41.4	Check if you're eligible at barclaycard.co.com.
0:44.4	33.9% APR representative variables subject to application financial circumstances in borrowing history,
0:50.0	T's and Cs apply.
0:51.0	Responsible use of a credit card can help build your credit score when you pay on time.
0:58.8	Thank you. T's and Cs apply. Responsible use of a credit card can help build your credit score when you pay on time. It's my pleasure to welcome you here to the Clark Howard Show.
1:03.0	Our mission is to serve you with advice and information that empowers you so you can make better financial decisions in your life. In this episode, I want to talk about
1:14.4	a trend affecting people in their 20s to early 40s that is not your friend. And I'm concerned
1:24.4	about it. It's referred to by economists as doom spending.
1:30.8	Also today, why I believe it's so important for you to be an advocate for yourself when it comes to your health.
1:41.9	So doom spending, there was a credit karma poll about it recently survey that got a
1:49.0	lot of play in the media. And for good reason, somewhere around, right around 40% of people in their
1:58.2	20s, 30s to nearly mid-40s are spending very heavily on luxury goods.
2:08.3	You think the brand names, I don't know anything about Chanel.
2:13.6	What's the one with the Birken bags?
	...

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