Reptilian brain · Pricing & Behavioral Economics
Pain of Paying
Paying hurts, and the hurt varies with how visible and coupled the payment is; anything that hides, delays or decouples payment from consumption makes you spend more.
An everyday example
Tapping a phone feels like nothing; counting out cash feels like loss.
What it can cost you
Spending that never registers as spending.
Warning signs
- I do not feel my spending.
- I am surprised by the statement every month.
One thing to do
Reintroduce the pain on purpose for discretionary categories: cash, a weekly total you read aloud, or a card that texts you the running sum.
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