The way I think about money & spending has been impacted by numerous thinkers, ideas, research, as well as (largely) my own personal experiences. Here are two ideas that have challenged me over the years:
Many years ago, when TEDTalks were only just beginning to be mentioned at dinner parties and were only available by slow release on iTunes, I watched one by Dan Gilbert. He is a Harvard psychologist and “happiness expert”; the key argument in all of his work, I suppose, is that our brains systematically misjudge what will make us happy.
What I remembered for years and years was a story that swum around my brain and poked at my own perception of money:
Of course, this is not how our brains naturally work; we are not wholly rational beings and our brains are predisposed to compare according to the past, to scale, etc.
All I know is that this story (and there are numerous examples in his talk) stuck with me and began to challenge the way I perceived my own car/stereo spending. Here is the whole video (including Q & A; the talk is the standard 10 minutes), if you want to watch it later:
Here’s another story, this time from one of my faves, Chris Guillebeau. He wrote a book The $100 Startup, that was incredibly helpful and motivational when I was beginning dignify. This story was from a chapter on how to price products or services in a way that balances the value an item provides with the kinds of psychological barriers mentioned above.
How much do you judge a product or service on its value to you and how much is on camparison with other ways to spend your money? When or where are you most irrational with your spending choices? Share your comments below!
Dignify’s origin story has long been included, in brief, on our about page, and I refer to it whenever I’ve done interviews or podcasts or if I meet someone in person who inevitably asks, how did you get into this?
I'd like to share a bit of a wider panorama of the story, and an update. I have heard some tremendous stories from customers about the meaning that their blanket has had in some aspect of their life or a relationship. I'm so inspired, I would like to share more of mine, too. The story of dignify is very intertwined with my friend, Kathy.
I've taken a Halloween approach (thus far) that is almost entirely of a free-for-all. As in: Go trick-or-treating, have fun, eat candy, keep it in your room, go wild... and usually by two weeks in, it's all gone, forgotten, or lost its lustre. This week, though, our three kids brought over 1200 candies & chips back into our house (!!!). It was, to understate things... a bit much.
When you find yourself with an abundance of junk food, the idea of throwing it away feels inconceivable (at least for me). Maybe it is that candy is non-perishable, and there is a sense that throwing something edible in the garbage is abhorrently wasteful?
A little behind-the-scenes insight here...
As a store owner, there are loads of resources out in the wilds of the internet, ostensibly to help me succeed in my business. Did you know that I start hearing about Black Friday (as in "are you prepared to break through on Black Friday?") in the summer?
It is SO EASY to find ourselves as consumers in the maelstrom of other people's (and corporations') marketing efforts, and not even remember how we got there, or even notice these (very intentional) forces working away on us.
Here are some actions we can take now to simplify the noise before the noisiest time of the shopping year: —