#113 - The funny ways we think about money

When vacationing at a posh resort, we often don’t get upset when we’re charged $4 for a soda, even though it costs $1 elsewhere. In part, this is because we’re lazy and like to lounge around like beached royalty. But it’s also because, compared to the thousands of dollars we’re spending on the rest of our tropical getaway, $4 seems like relatively

The pain of paying is, as it sounds, the idea that we experience some version of mental pain when we pay for things.

We forget that everything is relative When we see a sale, we shouldn’t consider what the price used to be or how much we’re saving. Rather, we should consider what we’re actually going to spend. Buying a $60 shirt marked down from $100 isn’t “saving $40”; it is “spending $60.” Aunt Susan never actually got $40 in her pocket, but she did get an ugly