We’re back, money nerds, for another fun-filled day of top money stories from around the web…
The trick that makes you overspend. [BBC Worklife] — “The decoy effect was first investigated as a potential marketing strategy to influence consumer choices such as this, but the latest research shows that it could also have potent effects in recruitment, healthcare, even politics. It shows us just how easily our judgement is swayed by the context in which the facts are presented – even when that additional information may have no bearing on the overall judgement.”
Four ways your fear of loss affects your finances. [The Physician Philosopher] — “Knowing our enemy is half the battle. And, in this case, the enemy is our own fear of loss. Instead of giving into loss aversion, admit to your irrational ways and make the smart money decision. Know that there is a behavioral aspect to economics, and use it to your advantage.”
The fog of work. [The Military Guide] — “When we’re at work, most of us are focused on our, um, work. We’re not free to work on something else, either, let alone go part-time. In the rare work moments when our laser-keen focus wanders off task for a second or two, we’re just taking a mental break…So the long-term planning happens sporadically, randomly, and superficially – if it even happens at all. No wonder the concepts of financial management and retirement are so foreign, even frightening.”
Our final piece has zero to do with money. It’s just fun. Consider it an Easter egg. 😉
The secret history of “Easter eggs”. [New York Times, so possible paywall] — “Over the years, Easter eggs in tech products have largely disappeared (except in video games). Like any other software, Easter eggs, so named for the hunt to find them, cost time and money to design, build and debug. Why would a tech company develop features it can’t advertise or even reveal?”
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