Why We Buy Things We Don't Need: Consumer Psychology & Money with Dr. Bryan Buechner | MAP Ep 58

Why do we buy things we don't need?

In Episode 58 of The Money Alchemist Podcast, Brent sits down with Dr. Bryan Buechner, marketing professor at Xavier University and expert in consumer psychology, to explore the hidden forces that influence how we spend money, make decisions, and interact with brands.

Together they discuss consumer behavior, self-control, decision fatigue, AI-powered recommendations, the psychology behind Costco's success, Peloton's rise and fall, pricing strategies, loyalty programs, and why understanding marketing can help you become a better steward of your money.

Whether you're trying to make better financial decisions, understand why companies market the way they do, or simply become a more intentional consumer, this episode offers practical insights that can help you think differently about spending, investing, and behavior.

About Our Guest

Dr. Bryan Buechner is a marketing professor at Xavier University whose research focuses on consumer behavior, self-control, decision making, and retail marketing. His work explores how consumers make choices and how businesses can better serve customers through a deeper understanding of human behavior.

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About your Hosts
Ben Jones, CFP®

Managing Director, National Wealth Management Group
www.nwmgadvisors.com
Sign up for Ben’s newsletter at www.karatstick.com
Follow him on X @thekaratstick
https://www.linkedin.com/in/ben-nwmg/

Brent Gargano, CFP®

Founder & Advisor, Infinite Wealth Planning
www.infinitewealthplanning.com
https://linkedin.com/in/brent-gargano-cfp®-2067b573

Comments or questions?
comments@moneyalchemistshow.com

Disclosure

The information provided on this podcast is for educational and informational purposes only and should not be construed as personalized investment, financial, tax, or legal advice. The views expressed here are those of the hosts and guests and do not necessarily reflect the views of National Wealth Management Group, LLC or its affiliates.

Investing involves risk, including the potential loss of principal. There is no guarantee that any investment strategy discussed will be successful or profitable. Past performance is not indicative of future results.

Economic discussions are based on current data and opinions, which are subject to change and may not accurately predict future events. We encourage listeners to conduct their own research and seek guidance from a certified financial advisor before making any decisions.

Advisory services are offered through National Wealth Management Group, LLC. For more information about National Wealth Management Group including Forms ADV and CRS, please visit www.nwmgadvisors.com.

Chapters

00:00 Introduction

01:30 Meet Dr. Bryan McCann

04:45 Why We Buy Things We Don't Need

09:30 The Truth About Self-Control

14:00 The Paradox of Choice

17:00 Omission Neglect and Consumer Decisions

20:30 Can AI Help Us Make Better Buying Decisions?

25:00 Will AI Become Advertising?

28:30 Great Products vs Great Marketing

32:00 Why Costco Creates Loyal Customers

38:00 What Makes a Great Brand?

42:00 The Psychology of Pricing

46:00 Peloton's Rise and Fall

50:00 Why We Struggle to Do What's Good For Us

53:00 The Transformation Economy

56:00 Community, Belonging, and Identity

59:00 Financial Advisors and Accountability

1:02:00 Convenience, Friction, and Consumer Behavior

1:05:00 Loyalty Programs and Retention

1:08:00 Final Thoughts

Видео Why We Buy Things We Don't Need: Consumer Psychology & Money with Dr. Bryan Buechner | MAP Ep 58 канала The Money Alchemist Podcast