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!
Basha Boutique is the name of the organization in Bangladesh where all of our beautiful products are made.
Yes, *all* of our products, every item of kantha we sell. This was... ill-advised by our banker. But, a personal working relationship, excellent partnership, and the literal best quality products have kept us together for nearly 9 years! dignify is yoked to Basha, and we have zero regrets.
If you've been around dignify for a while, you've heard plenty about Basha and likely have a good familiarity with how they (and we) operate. But, if not, here is a bit more context!
I’ve written before about taking the time to think about our spending habits. We are in a particularly unique situation in this current moment; in March 2020, there was a dramatic interruption to our everyday spending and consumption habits!
Some patterns have remained interrupted over the year. Some rhythms are, or will be soon, returning to a closer resemblance to pre-covid. Regardless of our specific situation, interruptions make great opportunities to re-assess! Do my choices reflect my desires, my values, my priorities?
It has been A MINUTE since I've written a book post! It's actually been over a year, which is a shock — I have read some excellent books this year, and I know many of you are avid readers!
In the past, I've shared book lists for: different points-of-view, family dynamics, & books to give as gifts... today's post/list is nothing more than a thoroughly biased list of books I've enjoyed recently & recommend!