Unpacking the Guilty Pleasure Effect How Our Brains Trick Us into Overspending

Podcast Transcript

HOST: Welcome to today's episode, where we're going to explore the fascinating world of money and spending behaviors. I'm your host, and I'm joined by Dr. Rachel Kim, the program director of our Undergraduate Certificate in The Psychology of Money and Spending Behaviors. Dr. Kim, thanks for being here! GUEST: Thank you for having me! I'm excited to share the insights and benefits of our unique program. HOST: So, let's dive right in. What makes this course so innovative, and how does it differ from other finance or business programs? GUEST: Our program takes a holistic approach by combining consumer psychology, financial literacy, and behavioral economics. We explore the cognitive biases, emotional triggers, and social influences that drive our spending habits. By understanding these psychological factors, our students gain a deeper understanding of why people make certain financial decisions. HOST: That sounds incredibly valuable. What kind of career opportunities can students expect after completing this course? GUEST: Our graduates can pursue a wide range of careers in finance, marketing, consumer research, and even policy-making. They can work in industries like banking, investment, or financial planning, or they can apply their skills in the non-profit sector or government. The possibilities are endless! HOST: That's really exciting. I can imagine our listeners are curious about the practical applications of this course. Can you give us some examples of how students can apply their knowledge in real-world scenarios? GUEST: Absolutely. Our students learn how to analyze consumer data, conduct market research, and develop strategic marketing campaigns. They can also apply their knowledge to create more effective financial products, services, or policies that take into account human psychology. For instance, they might design a savings plan that leverages the power of social norms or create a marketing campaign that appeals to consumers' emotional needs. HOST: Wow, that's really cool. I can see how this course can benefit not only individuals but also organizations and society as a whole. What kind of skills do students develop throughout the program? GUEST: Our students develop a range of valuable skills, including data analysis, critical thinking, and strategic problem-solving. They also learn how to communicate complex ideas effectively to various stakeholders. Perhaps most importantly, they gain a nuanced understanding of human behavior and how to apply that knowledge to drive positive change. HOST: That's fantastic. If our listeners are interested in enrolling in this course, what advice would you give them? GUEST: I would say that this course is perfect for anyone who's passionate about understanding human behavior and wants to make a meaningful impact in the world of finance or business. Our program is designed to be flexible and accessible, so whether you're a recent high school graduate or a working professional, we invite you to join our community of forward-thinking individuals who are redefining the way we think about money and spending. HOST: Thanks, Dr. Kim, for sharing your insights and expertise with us today. If