Research in behavior economics has also found that we feel differently about forking over cash to buy something, as supposed to using a credit card. I'm wondering if this is another example of mental accounting at workand how we might be able to take advantage of this. More recent forms of payment, things like apple pay or these these mobile payments, are going to be even lower in pain of payment. Hih, can be even easy and less painful to spend money as the payment mechanism becomes less concrete.
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.