It’s November, money nerds.
Today’s first article is fascinating. It’s academic research that shows how contestants on “The Price is Right” are getting less good at guessing prices as time goes on. (In my own life, I’m finding that I have a less of a sense for what things cost than I used to.)
Inattention and prices over time: Evidence from “The Price is Right” (1972-2019) [SSRN, click the “download this paper” link for PDF] — “Analyzing nearly five decades of data from “The Price Is Right” using nearly 30,000 trials of the one-bid Contestant’s Row game from 1972 to 2019 shows that players have increasingly underestimated the true price of the good over time with an increasingly greater magnitude, suggesting that individuals have become more inattentive to prices.”
Tips for getting out of poverty. [/r/povertyfinance on Reddit] — “I’ve grown up a minority in poverty with a younger brother and a single mom. I worked in fast food starting at $6.25/hr and banking from the age of 15 till late college. In the last 7 years I’ve graduated from college ended my full-time teller role and have been fulfilling my career choice as a designer throughout multiple roles…Here are some tips for things I’ve learned throughout the years that might be useful for people looking to break out of poverty. I hope it can help someone.”
Money buys you some happiness. Health buys you more. [The Big Picture] — “The issue with many attempts to measure happiness or well-being is that too often, they tend to rely on problematic surveys. Asking people questions tells you what they believe to be true — not what is actually true. This is a nuanced but crucial distinction.”
You can still be anything you want to be. [Rethink the Rat Race] — “You can still be anything you want to be…You don’t have to feel stuck in the choice that you made at 17 years old when you picked a major and profession that you thought would make your family happy. Don’t feel trapped in a career path that you didn’t even really choose, but one that you just kind of fell into. There has never been an easier time in history to pursue your true passions. The world is an amazing place where people are doing incredible things. Be one of those people.”
Amen! Please please please be one of those people. Go out there, live intentionally, and make the world an amazing place by doing incredible things. Thank you.