4 Ways Your Brain Tricks You Into Losing Money -Don’t fall into these mental money traps.

mydonnywise

Money symbol in a thought bubble

4 Ways Your Brain Tricks You Into Losing Money

Don’t fall into these mental money traps.

Money symbol in a thought bubble

 

Your brain may be to blame for some of your bad money choices. 

By Meg FavreauMarch 20, 2014Leave a Comment SHARE

Our brains are capable of great things – unfortunately, they’re also capable of some mental tricks that can lose us serious money. The good news? Once you’re aware of these biases, it’s easier to not fall into their traps.

Here are four money-losing brain tricks you should watch out for.

1. Your brain treats the same amount of money differently in different situations.

Which of these will save you more money – a coupon for $25 off a $50 clothing purchase, or a voucher for $25 off a $2,000 couch?

They both save you the exact same amount of money – $25. But according to financial journalist Gary Belsky and Cornell University psychology professor Thomas Gilovich…

View original post 1,506 more words

Advertisements

Join in the discussion here!

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s