In 'Dollars and Sense,' Dr. Dan Ariely and Jeff Kreisler illuminate the curious ways we misinterpret money and make irrational financial decisions. Through compelling anecdotes and insightful experiments, they reveal the psychological traps that lead us astray and how emotions influence our spending habits. The authors challenge conventional wisdom about economics, showing that our choices are often dictated by cognitive biases rather than logic. Readers are invited to rethink their personal finance strategies and gain unique insights into the true nature of value. This thought-provoking exploration will leave you questioning not just how much you spend, but why you spend it.
By Dr. Dan Ariely, Jeff Kreisler
Published: 2017
"We often misjudge the value of money and let irrational behaviors dictate our financial decisions; understanding the psychology behind our choices can empower us to make better ones."
Why is paying for things painful? Why are we comfortable overpaying for something in the present just because we’ve overpaid for it in the past? Why is it easy to pay $4 for a soda on vacation, when we wouldn’t spend more than $1 on that same soda at our local grocery store? We think of money as numbers, values, and amounts, but when it comes down to it, when we actually use our money, we engage our hearts more than our heads. Emotions play a powerful role in shaping our financial behavior, often making us our own worst enemies as we try to save, access value, and spend responsibly. In Dollars and Sense, bestselling author and behavioral economist Dan Ariely teams up with financial comedian and writer Jeff Kreisler to challenge many of our most basic assumptions about the precarious relationship between our brains and our money. In doing so, they undermine many of personal finance’s most sacred beliefs and explain how we can override some of our own instincts to make better financial choices. Exploring a wide range of everyday topics—from the lure of pain-free spending with credit cards to the pitfalls of household budgeting to the seductive power of holiday sales—Ariely and Kreisler demonstrate how our misplaced confidence in our spending habits frequently leads us astray, costing us more than we realize, whether it’s the real value of the time we spend driving forty-five minutes to save $10 or our inability to properly assess what the things we buy are actually worth. Together Ariely and Kreisler reveal the emotional forces working against us and how we can counteract them. Mixing case studies and anecdotes with concrete advice and lessons, they cut through the unconscious fears and desires driving our worst financial instincts and teach us how to improve our money habits. The result not only reveals the rationale behind our most head-scratching financial choices but also offers clear guidance for navigating the treacherous financial landscape of the brain. Fascinating, engaging, funny, and essential, Dollars and Sense provides the practical tools we need to understand and improve our financial choices, save and spend smarter, and ultimately live better.
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“We often misjudge the value of money and let irrational behaviors dictate our financial decisions; understanding the psychology behind our choices can empower us to make better ones.”
Dollars and Sense
By Dr. Dan Ariely, Jeff Kreisler
Discover a world of knowledge through our extensive collection of book summaries.
Dr. Dan Ariely is a renowned behavioral economist and the James B. Duke Professor of Business Administration at Duke University. He is best known for his influential books including 'Predictably Irrational', 'The Upside of Irrationality', and 'Dollars and Sense', which explore the hidden forces that shape our decisions and behavior. With a clear and engaging writing style, Dr. Ariely combines rigorous research with relatable anecdotes, making complex ideas accessible to a broad audience. His work has significantly impacted fields ranging from economics to psychology, and he is a prominent voice in discussions about decision-making, ethics, and policy.
Jeff Kreisler is a talented author and speaker known for his insightful and often humorous exploration of human behavior, economics, and decision-making. His notable works include 'Get Rich Cheating' and 'Dollarocracy,' co-authored with the prominent political commentator and author, and 'The Apathy Effect.' Kreisler's writing style is characterized by its witty prose, clever insights, and an engaging narrative that combines personal anecdotes with profound analysis, making complex topics accessible to a broader audience.
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