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!
A friend recently asked on Facebook for “the most challenging and enlightening resource you have read/watched about the problem of racism in America”. This question received numerous responses within the day: half a dozen films, dozens of books, podcasts, courses, and other hubs of information resources (as well as the astute reply, “Conversation”, which is, of course, the most relational and human of “resources”).
I think that this experience was shared by most people in early June (as protests & concerns over racial injustice had reached a critical volume): so many resources, so much to learn.
But now, 2 months later… what have we done with the magnitude of worthy, fascinating, perspective-altering information & insights that have been brought to our attention?
And this it only in the area racial injustice. In other interests & concerns: How much do we know? How much have we learned & read & listened to already?
Approximately 25 years ago (in March 2020), we did a customer/reader survey. I asked what you like to read on the blog & one of the respondents suggested a post on "living generously". What a fabulous idea and perfect for this time in history!
[The title of this post implies some kind of authority or expertise — ha! Nope, no experts here... just some thoughts on generosity from a fellow human, trying to make my way!]
A few weeks ago, I bumped into another grade 1 parent at the park, an acquaintance I knew from school events. As we chatted about our strange time since mid-March (working from home; restless but resilient kids; he hadn’t stepped foot in a store for 3 months...), he made an interesting remark:
We’ve looked at our bank account at the end of each month and thought, “what were we spending all that money on?!”