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 human hormone that controls thinking, motor functions (moving arms, legs etc) and even purchase decisions. Consumers can make bad decisions under the influence of Dopamine.
Dopamine is often referred to as the “Pleasure Center” of the brain.
Dopamine is closely associated with reward and pleasure seeking behaviors. addiction and overindulgence are often the symptoms of dopamine .
The absence of Dopamine reduces the ability for Consumers to think clearly. Low dopamine levels are the leading cause of depression and Parkinson’s Disease.
How Dopamine Drives Americans Into Debt
Since dopamine is the reward / pleasure seeking hormone it makes sense to examine how high levels of dopamine can back-fire. Consumers with too high levels of Dopamine have been found to make irrational financial decisions. When Dopamine levels are high Credit is seen as a reward, or a good time. Why do you think Credit Card Companies advertise Credit as the way to have ”priceless moments”? Because everyone loves pleasure.
Behavioral Economics | The Mad Science of Debt
Too Little Dopamine Can Cause:
- Loss of motivation,
- Anxiety,
- Fear and,
- Depression
On the other hand, too much Dopamine can cause :people to become:
- Hyper-Social
- Make irresponsible financial decisions when in under stress or,
- In social situations.
Dopamine Can Compel American Consumers to Commit Financial Suicide.
An old Client of mine, named John, had a daughter in College. John authorized his daughter to use his Credit Card to order text books.
His daughter took out a cash advance for the books she needed. John committed financial suicide for his daughter.
The Cash Advance caused Johns’ interest rate to skyrocket to 27.99% from 3.99%. The balance kept rising until John realized that he was in debt over his head. John said, “I knew I shouldn’t have agreed to the cash advance”, but - he tolcouldn’t say “NO” to his daughters need . It was a pleasure to take care of his Baby-Girl.
John took pleasure in helping his daughter – no matter the cost . John was taking pride in committing financial suicide for his daughter.
The good news is, I was able to help John with two of his four Credit Cards. unfortunately 2 of the other cards where and over the limit and there wasn’t much he could do except pay them off.
I wanted to tell John that it wasn’t all his fault. Behavioral Economics played in his debt situation.
10 Tips To Keep Dopamine In Check
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. We’ve educated ourselves on what makes Debt grow and how to make it 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.
