What People Do Is They Pay The

Money Is Very Difficult To Think About. So, We Think About Money As The Opportunity Cost Of Money. So, We At Some Point Went To A Toyota Dealership And We Asked People, What Will You Not Be Able To Do In The Future If You Bought This Toyota? Now, You Would Expect People To Have An Answer. But People Were Kind Of Shocked By The Question. They Never Thought About It Before. So, The Most We Got Was People Said, "well, If I Can't Buy This Toyota, If I Buy This Toyota, I Can't Buy A Honda." What Is This Thing? What Is This Value Of Price? Very Hard To Think About It.

I Don't Want To Say That The Poor Are Inherently Cognitively Diminished, But At The End Of The Day Of Making Difficult, Tough Decisions, It's Very Hard To Have The Energy To Think About Things With The Right Mindset.

Ownership Is Not Limited To Material Things. It Can Also Apply To Points Of View. Once We Take Ownership Of An Idea - Whether It’s About Politics Or Sports - What Do We Do? We Love It Perhaps More Than We Should. We Prize It More Than It Is Worth. And Most Frequently, We Have Trouble Letting Go Of It Because We Can’t Stand The Idea Of Its Loss. What Are We Left With Then? An Ideology - Rigid And Unyielding.

With Money We Really Fool Ourselves. We Are Our Biggest Enemies With Money And There Are Some Things We Can Do About It. Automatic Deductions Are A Wonderful Thing. But Ideally, You Should Wait Until The End Of The Month, You Can See How Much Extra Money You Had, And You Should Put That In Your Savings Account. We Don't Do That Too Well, And If We Did That, We Would Never Save. So, What We Do, Is We Take Money Out Of Our Pocket Into The Saving Account At The Beginning Of The Month, Take It Outside Of Our Control And As A Consequence, We Spend Less And We Save More.

When It Comes To The Mental World, When We Design Things Like Health Care And Retirement And Stock Markets, We Somehow Forget The Idea That We Are Limited. I Think That If We Understood Our Cognitive Limitations In The Same Way That We Understand Our Physical Limitations … We Could Design A Better World.