Research studies find that windfalls often change how we spend money. Once tuddy looked at the effect of getting a bonus on the likelihood of people taking out car loans. People who take out an extra car loan as a function of having received a bonus payment are actually more likely to default on their carloans than those who increase the car loans as a funt of just their ordinary income increasing.
Have you had a recent surprise expense? You're not alone. More than half of American households report facing an unplanned financial shock in the last year. This week, in the second part of our new "Money 2.0" series, psychologist Abigail Sussman points out our blindspots around money, and how we can be smarter about spending and saving.
If you like this show, be sure to listen to last week's episode on how our unconscious attitudes towards money influence how we manage our finances.
Also, check out our new podcast, My Unsung Hero! And if you'd like to support our work, you can do so at support.hiddenbrain.org.