Checkbox Syndrome: Why We Spend Money on Things We Don’t Need (and How to Avoid It)
Ever been overwhelmed by the temptation to buy the latest shiny thing because it’s got another checkbox in the features column? We call this “checkbox syndrome,” or jumping at a new gadget or product just because it’s an upgrade from the last one, not because it’s better. Before you fall for a list of tech specs designed to impress an audience at a big flashy announcement, stop and think about whether it’s really an upgrade for you.
Source: Lifehacker
In the experiments, conducted by Brigham Young University and Emory University marketing professors, consumers spent up to 50 percent more when they went shopping with a price in mind compared to those who didn’t have a budget for that item.
How Budgeting Can Actually Make You Spend More (and What You Can Do About It)
I’ve always been against strict budgeting, except for extreme situations where someone’s finances are totally out of control. Strict budgeting takes a lot of effort, and chances are you will give it up eventually.
It doesn’t matter what you spend your money on. What matters is how much you spend.
So while you may take the counteroffer, enjoy the fatter paycheck or bigger bonus, and think everything is okay, it’s very likely that your management is working on ways to work around you or replace you so they can eventually eliminate an “at risk” employee, one they assume will start looking for a new job eventually again anyway.
Priceonomics Is Like the Kelley Blue Book for Everything
Not sure how much your old car is worth given the market? That’s what Kelley Blue Book is for, right? How about your old TV, laptop, bicycle, and so on? By analyzing the going rates for 130 million listings across the internet, web site Priceonomics aims to be the price guide for everything.
Source: Lifehacker
Most habits are loops that we automatically repeat: a cue or trigger in our environment sets off our routine and the reward we get from the habit. Once we recognize this loop, we can develop a plan to change it.
How to Pay Down Your Debt and Invest at the Same Time
Great video from Ramit Sethi on how the mathematical answer isn’t always right when it comes to finances.
Source: Lifehacker
Use the Ten Second Rule to Cut Impulse Purchases
No matter how frugal you think you are, most of us make silly impulse purchases now and again. If you want to cut down on those types of purchases, frugal living blog The Simple Dollar recommends using the ten second rule to stop and ask yourself a few questions before you buy.
Source: Lifehacker
The Value Calculator Decides How You Should Spend That Chunk of Cash
Do you have some cash that’s burning a hole in your pocket, but you can’t decide how to use it? This calculator may be able to help you decide.
Source: Lifehacker
The Comfort Principle: Spend Money Where You Spend Your Time
Are you spending money on the things that you use most during the day? You should…
Source: Lifehacker
