If you find value in these articles, please share them with your inner circle and encourage them to Sign Up for my Rich Habits Daily Tips/Articles. No one succeeds on their own. Thank You!
TOM@RICHHABITS.NET
In the iconic film The Matrix, characters awaken to the realization that their perceived reality is a simulated illusion designed to keep them complacent and controlled.
Today, this metaphor extends powerfully to modern consumerism—a pervasive “matrix” of advertising, social media, and cultural norms that indoctrinates us into endless buying cycles. We’re told that happiness comes from the latest gadgets, luxury brands, and impulse purchases, but this illusion often leads to debt, financial stagnation, and a lifetime of paycheck-to-paycheck living.
Breaking free isn’t about rejecting all consumption; it’s about reprogramming your mindset and habits to prioritize wealth creation over fleeting gratification.
Drawing from my Rich Habits research—where I studied the daily behaviors of 233 self-made millionaires and 128 individuals struggling with poverty—alongside third-party studies on consumerism and financial literacy, this article explores how ditching consumerist traps can pave the way to genuine prosperity. The data reveals stark contrasts: wealthy individuals build fortunes through disciplined, value-driven habits, while consumerist tendencies keep others trapped in scarcity.
The Consumerist Indoctrination: How It Intentionally Keeps You Poor
Consumerism isn’t accidental; it’s a engineered system that exploits human psychology. From targeted ads on social media to “buy now, pay later” schemes, society pushes us to spend beyond our means, equating possessions with status and success. Research from the Federal Reserve highlights how the self-made save and invest more while the masses spend impulsively, causing widening inequality.
A study in the Journal of Consumer Psychology defines “consumer wealth” as not just financial assets but the perceived abundance from purchases, yet it warns that this mindset often leads to overconsumption and reduced long-term savings.
Third-party data from Investopedia echoes this, noting that consumerism harms individuals through debt accumulation and peer pressure-spending, ultimately hindering wealth building.
A PMC-published study on financial literacy found that better-educated consumers accumulate more wealth by resisting impulsive spending.
Rich Habits: The Red Pill for Wealth Creation
To escape this consumerist matrix, adopt the habits of the self-made wealthy. My research shows that 88% of millionaires devote at least 30 minutes daily to career-related reading or self-improvement, fostering knowledge that compounds into opportunities and greater earnings.
This contrasts sharply with consumerist distractions like endless scrolling or binge-watching, which 67% of the poor engage in excessively.
Here’s a breakdown of key Rich Habits to help you break free from the matrix and build wealth:
- Live Below Your Means and Invest the Difference: 88% of the wealthy live on 80% or less of their income, channeling the rest into savings and investments. Poor individuals, influenced by consumerism, often spend 100% or more, leading to debt.
- Set Clear Goals and Track Progress: 81% of the rich set daily, monthly, and long-term goals, treating wealth as a deliberate pursuit. This proactive mindset—held by 79% of the rich versus 18% of the poor—counters the passive consumption trap. Urban Institute data on wealth gaps between homeowners and renters shows goal-oriented saving (e.g., for down payments) creates wealth.
- Prioritize Health and Energy: 76% of millionaires exercise aerobically for 30 minutes or more daily, and 70% limit junk food to under 300 calories. This isn’t vanity—it’s about sustaining the energy for wealth-building activities. Consumerist habits like fast food and sedentary lifestyles correlate with lower productivity and higher medical costs, eroding potential savings.
- Build Relationships Over Transactions: The wealthy network strategically, with 79% devoting time to building “rich relationships” that open doors. Consumerism isolates through material focus. Instead, invest in mentorships and build relationships with others seeking to break free from the matrix through success and wealth creation.
- Embrace Continuous Learning: Beyond reading, 63% of the rich listen to audiobooks or podcasts during commutes. A study in Sustainable Finance links financial consumerism to poor decision-making, but literacy-building habits reverse this, enabling smarter investments.
Entrepreneur.com’s summary of my study, notes that self-made millionaires who entrepreneurially pursue dreams build wealth faster than savers alone, often by spotting opportunities hidden from consumer-distracted minds.
The Broader Evidence
Beyond my Rich Habits findings, external research reinforces the anti-consumerist path to wealth. Visa’s economic insights on the wealth effect show the wealthy only spend 4-15% of newfound wealth, while saving and investing the bulk of their newfound wealth.
RBC Economics highlights how high earners and those with wealth will only engage in consumption using the passive income generated from that wealth, rather than debt-fueled spending.
Mindset matters: Those focused on building wealth view money as a tool for building wealth and freedom, not a tool for increased spending. Conversely, the poor see money as a means to acquire things they desire.
Your Path Out of the Consumption Matrix
- Start small: Audit your spending for consumerist leaks—cancel unused subscriptions.
- Delay non-essential purchases for 30 days.
- Refrain from impulse purchases by waiting 24 hours before making an impulse-driven purchase.
- Replace TV time with reading books like Rich Dad Poor Dad or my Rich Habits.
- Track goals in a journal.
- Exercise daily.
- Seek mentors.
Remember, 100% of self-made millionaires in my Rich Habits study believed they controlled their financial destiny—adopt that belief, and consumerism loses its grip over you.
By unplugging from the matrix of endless wants, you reclaim control over your financial life.
Wealth isn’t about hoarding; it’s about freedom, impact, and legacy. As my research and supporting studies show, the daily habits you choose to adopt today determine the riches you will reap tomorrow.
Tom Corley is an accountant, financial planner and author of “Rich Kids: How to Raise Our Children to Be Happy and Successful in Life”, “Effort-Less Wealth”, “Change Your Habits Change Your Life”, “Rich Habits Poor Habits”, “Rich Habits: The Routines Millionaires Use Daily to Build Wealth” and “Rich Habits Wealth Academy.”
