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!
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More Helpful Links and Resources:
372 | Can I Get an Extension, Please?
371 | Why Does the Stock Market Go Up? | Brian Feroldi
370 | Timeline Your Goals | Stacked with Joe Saul-Sehy
369 | The Unstoppable Force Vs Immovable Object: Clarity and Goal Setting Part 2
368 | Declutter, De-noise & De-stress : Clarity and Goal Setting Part 1
367 | FI Number Adjustments
366 | Day 0 Self
365 | What If You Didn't Need to Escape?
364 | What's All the Hoopla About?
363 | First to a Million
362 | Blockchain, Smart Contracts, and NFT's | Part 2
361 | Blockchain, Smart Contracts, and NFT's | Part 1
360 | A Primer for Success
359 | SWOT Analysis for Financial Independence
358 | Getting Started Audit
357 | 2021 Year End Wins | Part 2
356 | 2021 Year End Wins | Part 1
355 | Making Bold Moves
354 | Navigating the Possible Vs Probable of Personal Finance
353 | Families Fly Free
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