Robert Broadley
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Oct 19, 2020 · Ashley Whillans argues that people who prioritize time over money are happier, healthier and more successful. She explains how to shift your mindset and break out of the toxic money trap that even millionaires fall into.
Sep 11, 2024 · To stop spending too much money, create a budget by adding up your monthly expenses, like rent and food, and look for any non-essentials you might be spending too much money on, like shopping or coffee.
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- Opportunity cost neglect. In a world of scarcity, choosing one thing means giving up something else. When we spend money on one thing, it’s money that we cannot spend on something else, now or later.
- The curse of mental accounting. Mental accounting involves dividing your money into separate mental accounts, such as accounts for food, clothes, rent, school supplies, indulgence, and the like (Thaler & Sunstein, 2008).
- Special occasion. We tend to overspend on “special occasions” (birthdays or Christmas), because we don't keep track of just how many of them we have. Consequently, we end up spending over our normal budget (Sussman, & Alter, 2012).
- Present bias. Present bias occurs when individuals place extra weight on more immediate rewards than those in the future. For example, my future self may want to buy a home, but my present self wants to splurge on a tropical vacation.
Feb 28, 2023 · Money is essential for our lives, but too much of it can change our thinking and behavior. Learn how money can lead to moral degradation, addiction, greed, pride, and losing sight of what's important.
Jan 22, 2021 · A first step in getting rid of money stress and living a happier, healthier life is to identify what specifically is causing you to worry.
Sep 14, 2020 · Learn how prioritizing money over time can undermine your happiness, and how to spend your money wisely to increase your life satisfaction. Find out the benefits of saving, investing, and spending on experiences, and how personalities affect your spending choices.
Feb 8, 2018 · Money can influence our morality, empathy, relationships, and mental health in ways we may not realize. Learn how wealth affects our behavior, attitudes, and well-being, and how to avoid the pitfalls of affluenza.
