In this episode: the pain of paying, anchoring, relative value, sunk costs, response to stimulus, and opportunity cost.
On this installment of the Book Club, we are joined by Clint Murphy and Ginger to discuss some of our favorite takeaways from Dan Ariely and Jeff Kreisler's "Dollars and Sense: How We Misthink Money and How to Spend Smarter," We often mention on this podcast the importance of actionable steps you must be willing to take while on the journey to FI, and this book is chalk-full of actionable tips and examples that could possibly be applied to many areas of your life, not just personal finance. While we know that personal finance is not unilateral and there are no correct steps and decisions that ensure success for everyone, we believe this book can help you better understand the decision making processes that goes into taking actionable steps on your FI journey!
Book Club Selection:
Timestamps:
Resources Mentioned In Today’s Episode:
More Helpful Links and Resources:
235 | How I Built a 7-Figure Online Course | Jacques Hopkins
234 | What's in Your Index?
233 | You Need to Start Building Your Network | Jordan Harbinger
232| Raising a Money-Savvy Family for Next-Generation Financial Independence | Doug Nordman and Carol Pittner
231 | Are You Too Good for Casserole?
230 | College Hacks from the ChooseFI Community
229 | Managing Stress by Leveraging FI | The Fioneers
228 | Overcoming the Debilitating Fear of Public Speaking
227 | The Golden Albatross | Grumpus Maximus
226 | Trip Of A Lifestyle To All US National Parks
225 | The Power of the Staycation
224 | Introducing our Households of FI
223 | Slow Traveling the World the FI Way | Nomad Numbers
222 | The Mid LIfe Crisis
221 | Introducing our Households of FI
220 | Fix My 403b | Nancy Bachety
219 | I was Laid Off, Now What?
218 | COVID Budget Awakening | Brandi Sellers
217| How to Save Thousands in US Federal Taxes Using Geo-arbitrage | David McKeegan
216 | How to make FI more inclusive | With Chris Browning of Popcorn Finance
Create your
podcast in
minutes
It is Free
The emPOWERed Half Hour
Everyday Courage with Jillian Johnsrud
Rebel Entrepreneur