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King-Sized Bedspread
- Richard Thaler's friend bought a king-size bedspread for her double bed because it was the best deal.
- The bedspread was too big, but she saved money.
Non-Recurring Expenses
- Recurring expenses are predictable, but one-time expenses happen often.
- These seemingly one-off expenses are frequently miscategorized in budgets.
Overspending Justification
- We justify overspending on infrequent expenses because they feel exceptional.
- The infrequency makes it hard to understand their real budget impact.