behavior scientist katy man once found that even small windfalls cause people to buy very different things than they typically would. Abbi absolutely aso. I anto san that the windfall effect sometimes shows up even when it's not a windfall, but our own money that's coming back to us. Many of us treat tax refunds as a bonanza, even though it's simply a case of the government returning our own money to us. The intuitive feel of receiving a windfall like that is that you can keep spending not only once, but multiple time.
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.