Lizzy and Lissa break down the hidden costs – financial and otherwise – of luxury brands. Beyond the price tag of luxury goods and services they delve into the psychology behind why we, as a society, care about luxury. There’s no denying that luxury brands have a huge influence on many aspects of our lives such as our spending habits and our self-perception. But are they worth it? Main Topics00:00 Introduction01:22 Running The Numbers Segment02:51 The Origins and Evolution of Luxury Brands04:36 The Definition of Luxury11:01 Personal Stories and Identity23:35 Luxury Brand Strategies28:49 Quality vs Quantity of Jewelry32:44 Consciously Spending on Luxury36:56 Luxury Goods as Investments38:18 High-Low Fashion Mix39:23 20 Cents Segment42:17 Final Thoughts References for Statisticshttps://www.statista.com/outlook/cmo/luxury-goods/worldwidehttps://www.vox.com/money/23728283/luxury-designer-boom-nike-lvmh-pandemic-le-creusethttps://www.jpmorgan.com/insights/global-research/retail/luxury-market Co-HostsLizzy is a strategist, alternative investments expert, and a founding partner of Pursuit Funds. Follow Lizzy: Instagram | TikTokLissa is an Accredited Financial Counselor®, personal finance expert, and the founder of Wealth for Women of Color. Follow Lissa: YouTube | Instagram | TikTok Credits► Produced by Lizzy Marie and Lissa Prudencio► Edited by Kory Alexander, KoryAGraphy Studios / @ikoryalexander► Artwork by Lizzy Marie► Music by Lissa Prudencio, Net Net Podcast “Theme Song” Talk to usHit us up, let us know what you think: IS IT WORTH IT? 💸DM us on Instagram: @netnetpodcastEmail us at hi@netnetpodcast.com DisclaimerThis podcast is for educational, informational, and entertainment purposes only, and should not be constituted as financial advice or any other kind of professional advice. Views and opinions are our own, and Net Net Podcast does not serve as a substitute for personalized financial guidance tailored to your specific situation.Remember to always do YOUR own research, consult a professional as needed, and feel empowered to make your own decisions!