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What to Do With Your “Extra money” (Other Than Swim in it of Course)

“People are far more likely to value money less that they don’t feel they have put in a large amount of effort to earn.”
AcademySuccess.com

“In 2009, Harvard Researchers found that when they gave participants of an experiment an extra $10 more than a peer group, the subjects spent 20% more after being told the money was “extra” in nature. In financial behavior psychology, this is known as “mental accounting” where people assign economic values to their income often by what the source of it was (how hard they worked for it, for example). What this means is, people are far more likely to value money less that they don’t feel they have put in a large amount of effort to earn.”

Check out the entire post here: AcademySuccess.com

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