Dollar and Sense (Dan Ariely; Jeff Kreisler, 2017)
Review: This is very suitable for people who intend to lead a normal life, work a normal job and want to retire normally - the virtue of saving is more important than you ever know. Rated: 8/10 Casino mentality Mental accounting: token become less of money The price of free: free parking and drinks in casino The pain of paying: not spending money but like a game Relativity: tips become small as compared to piles of chips Expectations: looks like James Bond Self-control: influenced by stress Emotional accounting: something already paid so you don’t feel the pain Couples are frustrated because they have overpaid their honeymoon and come back stingy and sour Prepaid stuff made us guilt-free to spend Self-herding: we assume the cost and be willing to pay for something above its value Successful advertising copywriters are like magicians: they let us feel like we already own client’s product Can we live up to 80% of our income vs. can we give away 20% of our income Bidding...