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One economist's take on popular advice for saving, borrowing, and spending
Planet Money
The Value of an Extra Dollar of Spending in Your 20s
In economic speed, you tell, marginal utility diminishes. The value of an extra dollar of spending is pretty high when you're spending a low amount. You get more bang for your buck at these low levels and maybe increasing your spending a little bit in your 20s actually is going to boost your lifetime total happiness.
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