Mental accounting can be used against us, but also as a tool for self-control. Putting money into a savings account feels like it's in a different bucket and that makes it harder to touch. People aren't going to give money if they don't feel like they have money to give. framing an exceptional donation opportunity as more or less exceptional could help people make the most of their charitable donations.
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.