Dollars and Sense: How We Misthink Money and How to Spend Smarter

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  • 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 seductive power 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. Together Ariely and Kreisler reveal the emotional forces working against us and how we can counteract them. Mixing case studies and anecdotes with concrete advice and lessons, they cut through the unconscious fears and desires driving our worst financial instincts and teach us how to improve our money habits.

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 bestselling author of Predictably Irrational, The Upside of Irrationality, and The (Honest) Truth About Dishonesty. He is the James B. Duke Professor of Psychology and Behavioral Economics at Duke University and is the founder of the Center for Advanced Hindsight. 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

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Additional Information

Publisher
HarperCollins
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Published on
Nov 7, 2017
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Pages
288
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ISBN
9780062651228
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Language
English
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Genres
Business & Economics / Decision-Making & Problem Solving
Business & Economics / Finance / General
Psychology / Applied Psychology
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Content Protection
This content is DRM protected.
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Eligible for Family Library

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How to Develop Self-Discipline, Resist Temptations and Reach Your Long-Terms Goals

If you want to make positive changes in your life and achieve your long-term goals, I can’t think of a better way to do it than to learn how to become more self-disciplined.

Science has figured out a lot of interesting aspects of self-discipline and willpower, but most of this knowledge is buried deep inside long and boring scientific papers.

If you’d like to benefit from these studies without actually reading them, this book is for you. I’ve done the job for you and researched the most useful and viable scientific findings that will help you improve your self-discipline.

Here are just a couple things you will learn from the book:

- what a bank robber with lemon juice on his face can teach you about self-control. The story will make you laugh out loud, but its implications will make you think twice about your ability to control your urges.

- how $50 chocolate bars can motivate you to keep going when faced with an overwhelming temptation to give in.

- why President Obama wears only gray and blue suits and what it has to do with self-control (it’s also a possible reason why the poor stay poor).

- why the popular way of visualization can actually prevent you from reaching your goals and destroy your self-control (and what to do instead).

- what dopamine is and why it’s crucial to understand its role to break your bad habits and form good ones.

- 5 practical ways to train your self-discipline. Discover some of the most important techniques to increase your self-control and become better at resisting instant gratification.

- why the status quo bias will threaten your goals and what to do to reduce its effect on your resolutions.

- why extreme diets help people achieve long-term results, and how to apply these findings in your own life.

- why and when indulging yourself can actually help you build your self-discipline. Yes, you can stuff yourself (from time to time) and still lose weight.

Instead of sharing with you the detailed "why" (with confusing and boring descriptions of studies), I will share with you the "how" – advice that will change your life if you decide to follow it.

You too can master the art of self-discipline and learn how to resist temptations. Your long term goals are worth it. Scroll up and buy the book now.

As a gift for buying my book, you'll get my another book, "Grit: How to Keep Going When You Want to Give Up."

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Major New York Times bestseller
Winner of the National Academy of Sciences Best Book Award in 2012
Selected by the New York Times Book Review as one of the ten best books of 2011
A Globe and Mail Best Books of the Year 2011 Title
One of The Economist's 2011 Books of the Year
One of The Wall Street Journal's Best Nonfiction Books of the Year 2011
2013 Presidential Medal of Freedom Recipient
Kahneman's work with Amos Tversky is the subject of Michael Lewis's The Undoing Project: A Friendship That Changed Our Minds

In the international bestseller, Thinking, Fast and Slow, Daniel Kahneman, the renowned psychologist and winner of the Nobel Prize in Economics, takes us on a groundbreaking tour of the mind and explains the two systems that drive the way we think. System 1 is fast, intuitive, and emotional; System 2 is slower, more deliberative, and more logical. The impact of overconfidence on corporate strategies, the difficulties of predicting what will make us happy in the future, the profound effect of cognitive biases on everything from playing the stock market to planning our next vacation—each of these can be understood only by knowing how the two systems shape our judgments and decisions.

Engaging the reader in a lively conversation about how we think, Kahneman reveals where we can and cannot trust our intuitions and how we can tap into the benefits of slow thinking. He offers practical and enlightening insights into how choices are made in both our business and our personal lives—and how we can use different techniques to guard against the mental glitches that often get us into trouble. Winner of the National Academy of Sciences Best Book Award and the Los Angeles Times Book Prize and selected by The New York Times Book Review as one of the ten best books of 2011, Thinking, Fast and Slow is destined to be a classic.

These Habits and Exercises Will Help You Build Iron-Like Resolve and Self-Discipline

Do you make goals, yet get discouraged when your plans don’t work? We all know that person who seemingly was born to succeed. Fitness, health, business, they achieve all their goals. You want that success, and know you can get it... but how?

Everywhere you turn, there are obstacles that block your path. Being successful doesn’t mean avoiding them, it means meeting those obstacles head-on and pushing through. You need the self-discipline and willpower to see you through to the end. You need the tools that will enable you to have that self-discipline and willpower. Daily Self-Discipline has those tools.

Inside, you’ll learn methods to:

- develop powerful self-discipline by building a fit body and mind,

- thrive in face of adversity, cravings, temptations and discomfort and feel good about it,

- develop key self-awareness skills to push yourself through to your goal,

- gain a clear vision of how self-discipline works that will inspire you to carry on no matter what,

- keep pushing when nothing seems to work and you’re on the verge of giving up.

Each page of this book is designed to help you build the self-discipline that leads to the resiliency and mental strength you need on a daily basis. Simple everyday exercises and habit-forming practices will teach you the skills you need to overcome obstacles and have confidence in yourself and your path to success.

Keywords: develop self discipline, willpower and self discipline, self-discipline, self control books, stress, reach your goals, self-control, achieve your goals, instant gratification, long term goals, goal setting success, goal setting books, how to reach your goals, how to achieve your goals, persistence, how not to give up, stick to a diet, stay motivated, build habits, delayed gratification, personal development
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