Did you know that there is a hormone in your brain, that can lead you into more debt?
Debt is caused in part by dopamine
Dopamine [image pictured left], is a hormone that controls humans thinking, motor functions (moving arms, legs etc) and even purchase decisions.
Dopamine is often referred to as the “Pleasure Center” of the brain. Dopamine is closely associated with reward-seeking behaviors, like consumption, and addiction. Dopamine provides enjoyment and reinforcement of behaviors that bring pleasure. The absence of Dopamine reduces the ability for one to think clearly for themselves. Diminished Dopamine levels are the leading contributor of depression and Parkinson’s Disease.
Dopamine helps decision-making by influencing the level of priority and desire, of any given stimuli or situation. Consumers with too high levels of Dopamine have been found to make irrational decisions.
Dopamine and Debt
Dopamine dominates our thinking and many-times our actions. For example, with the holiday season upon us, think of all of the people who have been (or will be) charging the holidays on their Credit Cards? That’s not ignorance, it’s Dopamine. Dopamine and Debt work like hand in glove during the Holidays.
Dopamine is the reward / pleasure seeking hormone. While credit is simply an instant reward [pleasure] with deferred payments. When you combine easy credit with a pleasure seeking hormone, you’ve got the perfect formula for holiday debt.
Behavioral Economics | The Mad Science of Debt
I’ve been talking for months about how Consumers have been Doped into Debt. I blame the application of Behavioral Economics and the very smart people that use it’s knowledge and power for pure greed.
Behavioral Economist know that lack of Dopamine can cause loss of motivation, anxiety, fear and depression. On the other hand, too much Dopamine causes people to become Hyper-Social and make irresponsible financial decisions when in under stress, or in social situations.
Dopamine compels people to commit financial suicide.
For example, in 2005, John had a daughter in college authorized to use his Capital One Card. She needed money for books, so she took a cash advance for the books she needed. That transaction caused his interest rate to skyrocket to 27.99% from 3.99%. The balance kept rising until he realized that he was in debt over his head. John couldn’t say “NO” to his daughters need. More importantly, it was pleasurable to take care of his “Baby-Girls” need.
I helped John with 2 of 4 Credit Cards. But 2 of the other cards where maxed and too far gone. I knew that if I told him about the role that Dopamine and Behavioral Economics played in this debt situation, John wouldn’t have understood me. He took pleasure in helping his daughter – no matter the cost . John was taking pride in committing financial suicide for his daughter.
The best Weapon to balance Dopamine levels is by raising your Serotonin Levels. I’m not a Medical Doctor or Psychiatrist, but I found 10 Tips to help you defeat Dopamine without drugs:
1. Serotonin levels are increased by a carbohydrate rich diet.
2. Eat the kinds of protein that favor serotonin production
3. All meditative activities raise serotonin levels
4. Engage in exercise that increases your heart rate somewhat but not significantly.
5. Have a regular wake sleep cycle.
6. Get out in the sun at least 30 minutes in the morning and for 2 hours throughout the day.
7. Eat a meal with high level of proteins that contain tryptophan and follow that by a carbohydrate snack about two hours later. This will act to drive the lingering tryptophan into the brain and set up the production of greater amounts of serotonin the next day.
8. Do things that revitalize you and make you feel good.
9. Take a low activity, high relaxation vacation with your family or by yourself with plenty of time to slow down.
10. Listen to classical music, light rock, folk or easy listening music.
Visit a museum, go to the theater, the symphony, or watch TV or films about love stories, comedies and other feel good movies
How to use Dopamine to your advantage as a Debtor
Dopamine is a hormone that can work in your favor if you’re seeking to get out of debt. Since Dopamine is a pleasure seeking hormone, imagine yourself getting out of debt?
Think about how good you’ll feel by being prepared to win your war on debt. Think about all of the victories you’ll have on your Battle-field of Debt. Think about being able to WIN your Battle over your Budget?
I hope this post helps you to understand that DEBT WARRIORS™ don’t judge Debtors. As Debt Counselors we’ve educated ourselves on what makes Debt and how to make debt go away. We are ready to share the secrets of eliminating your debt (for yourself) in our Debt Settlement Video Courses. There’s a lot you don’t know about how you got into debt, but there’s a lot that we know about eliminating debt.
You don’t have to continue to live with massive amounts of Debt that you’ve been doped into. Instead you can use what we can teach you to out-smart your debt in safe, legal and responsible ways.
