Dollars and Sense: How We Misthink Money and How to Spend Smarter
About this ebook
- Why is paying for things painful?
- Why are we comfortable overpaying for something in the present just because we’ve overpaid for it in the past?
- Why is it easy to pay $4 for a soda on vacation, when we wouldn’t spend more than $1 on that same soda at our local grocery store?
We think of money as numbers, values, and amounts, but when it comes down to it, when we actually use our money, we engage our hearts more than our heads. Emotions play a powerful role in shaping our financial behavior, often making us our own worst enemies as we try to save, access value, and spend responsibly. In Dollars and Sense, bestselling author and behavioral economist Dan Ariely teams up with financial comedian and writer Jeff Kreisler to challenge many of our most basic assumptions about the precarious relationship between our brains and our money. In doing so, they undermine many of personal finance’s most sacred beliefs and explain how we can override some of our own instincts to make better financial choices.
Exploring a wide range of everyday topics—from the lure of pain-free spending with credit cards to the pitfalls of household budgeting to the seduction of holiday sales—Ariely and Kreisler demonstrate how our misplaced confidence in our spending habits frequently leads us astray, costing us more than we realize, whether it’s the real value of the time we spend driving forty-five minutes to save $10 or our inability to properly assess what the things we buy are actually worth.
The result not only reveals the rationale behind our most head-scratching financial choices but also offers clear guidance for navigating the treacherous financial landscape of the brain. Fascinating, engaging, funny, and essential, Dollars and Sense provides the practical tools we need to understand and improve our financial choices, save and spend smarter, and ultimately live better.
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About the author
Dan Ariely is the James B. Duke Professor of Psychology and Behavioral Economics at Duke University. He is a founding member of the Center for Advanced Hindsight; a cocreator of the film documentary (Dis)Honesty: The Truth About Lies; and a three-time New York Times bestselling author. His books include Predictably Irrational, The Upside of Irrationality, The (Honest) Truth About Dishonesty, Irrationally Yours, Payoff, Dollars and Sense, and Amazing Decisions. His TED Talks have been viewed more than 27 million times. His work has been featured in the New York Times, the Wall Street Journal, the Washington Post, the Boston Globe, and elsewhere. He lives in North Carolina with his family.
Jeff Kreisler is just another Princeton educated lawyer turned award-winning comedian, author, speaker, TV pundit, speechwriter, and advocate for behavioral economics. The New York Times calls him "Delectable," Rachel Maddow (MSNBC) says, "You'll be laughing all the way to the bank," and his kids still think he's "cool." He specializes in money, politics, and other human encounters. His first book was the satire Get Rich Cheating. http://jeffkreisler.com
