In an earlier post we described research showing that people get more long-lasting satisfaction from money spent on experiences than money spent on material goods. If you read that post and took it to heart — humor us — an …
Psychology of Money
Why Giving Your Kids an Allowance May Not Teach Them Anything
Parents have been paying their kids an allowance since the Industrial Revolution on the theory that it will help kids better understand budgets and spending choices as adults. Now a prominent academic says it’s all been a waste of time
Why (Bill) Size Really Does Matter
In some Big Apple circles there’s a concept referred to as “The New York City Street Tax.” This isn’t anything official. Rather, the idea is that the simple act of walking through the city—walking through any bustling city, …
The Secret Cause of Buyer’s Remorse
Being able to hold things before we buy them makes us more satisfied with our purchases.
5 Tricks To Make Your New Year’s Resolutions Stick
A new year, a new batch of resolutions! Alas, these promises to ourselves rarely produce long-lasting results. (Depending on the source, nearly nine in 10 resolutions don’t take.) Worse, failed resolutions could be harmful if …
Retro Sneakers Literally All the Rage: Air Jordan XI Concords Cause Fights, Sell for Nearly $1,000
Each holiday season, an especially hot, must-have gift emerges, often triggering behavior by desperate consumers that seems wacky and ugly at the time — and even more so in retrospect. (Example: Some guy made $6,000 selling Zhu Zhu pets on eBay last year.) This year, the behavior surrounding one hot item seems especially extreme — …
The Blackberry Moral (Or: The Trouble With Too Many Options)
We were intrigued but not surprised by a recent article in the New York Times detailing troubles at Research in Motion, maker of the Blackberry. Among several problems facing the Canadian tech company is an overabundance of …
Why the Smell of Cinnamon Makes You Spend Money
Every December, you vow it’s not going to happen and yet, without fail, you return home from your Christmas shopping with far more than you intended. Do you ever wonder why? The answer might surprise you, because you’ve …
Why You Should Shop For Cars When You’re Grumpy
Nearly all accounts about why people have the tastes and preferences that they do center around the idea that the human brain has been “wired” to have those tastes and preferences because of advantages they provided to our …
Don’t Cry for Goldman Sachs, Despite ‘Bad’ Year and Partner Exits
Has Goldman Sachs lost its lustre? The Wall Street powerhouse is wrapping up its worst financial performance since 2008, with profits down more than 40% so far this year. As a result, end-of-year bonus payouts are sure to be …
A Better Way To Pay Off Debts
‘Tis the season … to accumulate debt, and in that spirit we thought we’d write about a pair of related and timely subjects. The first is a new study, containing findings that could help you pay off loans faster. The second is a …
Gift Registry for Everyone? Why Surprise Presents Are a Bad Idea
Say your mom, or best friend, or spouse has made it perfectly clear what they’d like in a holiday gift. Better think twice before going off the script and buying something else you have a gut feeling they’ll just love. Studies …