What Can Underconsumption Tell You About Your Financial Problems?

Online content, from gloom and doom news stories to aspirational videos by influencers, has a way of amplifying our negative emotions.  Everywhere you click, someone is trying to make you feel like everyone else has more money than you do, that your financial problems are your own fault, and that everyone is judging you for it.  In most cases, none of these things are true.  Is there an online antidote to this miasma of negativity?  Some people claim to have found it in the corner of the Internet inhabited by de-influencers and underconsumption content.  Watching videos about not buying stuff doesn’t sound like as much fun as watching videos about buying stuff, but if it passes the time until your next paycheck and stops you from opening your shopping apps, then rock on with your de-influencer content.  The trouble is that, if you do that, you will probably still be in just as much debt this time next year.  To discuss solutions that do not fit into an 18-minute TED talk, much less a 90-second Tik Tok video, contact a Miami debt lawyer.

You Would Probably Still Be in Debt Even If You Stopped Buying Stuff

There is so much pressure to keep buying stuff that some people find it helpful to receive moral support for getting through one day, and then as many others as possible, without buying anything.  Buy nothing clubs and discussion boards dedicated to frugality can give you a feeling of community with other people looking for serenity and financial wellbeing in a world where we are constantly bombarded by advertisements.  If you participate in these activities, you might meet some new friends who share your values.

You probably will not get out of debt, though.  The problem with not buying anything except necessities and that the necessities alone cost enough to eat up your entire paycheck.  There is also the contentious issue of what counts as a necessity.  Perhaps you have not bought a new article of clothing in decades, but your children are unlikely to accept back to school clothes from the buy nothing club unless they are so young that they have more baby teeth than permanent teeth.  Extracurricular activities are notably effective at keeping teens out of trouble, but most of them come with expenses, some more costly than others.

Debt Relief Options for the Non-Materialistic

Whether de-influencer content is your jam or whether you prefer to unwind with videos that indulge in a materialistic fantasy, you will have to face your debts eventually.  The best option might be to consolidate your debts by paying them off with a low-interest personal loan.  If you cannot qualify for a debt consolidation loan, the best option might be to negotiate with creditors directly to settle your debts, or else to file for bankruptcy protection.

Work With a Debt Lawyer About Debt That Frugality Can’t Erase

A South Florida debt lawyer can help you if you are still in debt after months of only spending on the bare necessities.  Contact Nowack & Olson, PLLC in Miami, Florida to discuss your case.

Source:

cnbc.com/2024/08/04/underconsumption-core-is-in-as-budgets-tighten.html