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Dollars and Sense: How We Misthink Money and How to Spend Smarter

by Dr. Dan Ariely

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2242119,438 (3.64)1
Business. Finance. Nonfiction. HTML:

Blending humor and behavioral economics, the New York Times bestselling author of Predictably Irrational delves into the truly illogical world of personal finance to help people better understand why they make bad financial decisions, and gives them the knowledge they need to make better ones.

  • Why does paying for things often feel like it causes physical pain?
  • Why does it cost you money to act as your own real estate agent?
  • Why are we comfortable overpaying for something now just because we've overpaid for it before?
  • In Dollars and Sense, world renowned economist Dan Ariely answers these intriguing questions and many more as he explains how our irrational behavior often interferes with our best intentions when it comes to managing our finances. Partnering with financial comedian and writer Jeff Kreisler, Ariely takes us deep inside our minds to expose the hidden motivations that are secretly driving our choices about money.

    Exploring a wide range of everyday topicsā??from credit card debt and household budgeting to holiday salesā??Ariely and Kreisler demonstrate how our ideas about dollars and cents are often wrong and cost us more than we know. Mixing case studies and anecdotes with tangible advice and lessons, they cut through the unconscious fears and desires driving our worst financial instincts and teach us how to improve our money habits.

    Fascinating, engaging, funny, and essential, Dollars and Sense is a sound investment, providing us with the practical tools we need to understand and improve our financial choices, save and spend smarter, and ultimately live better… (more)

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    This was mildly interesting, but I felt like I already intuitively knew most of what they state in the book. Perhaps that's just because I've always tended to be more responsible with money than most people I know. (Sounds braggish, sorry, but does seem to be true.) I do think a lot of people could get some good pointers from this book, though. The book's style made it more entertaining than it otherwise would've been (the co-author is a comedian, literally). Recommended for those who just never felt like they were "good with money". ( )
      caimanjosh | Sep 28, 2018 |
    So - if you know any behavioral economics at all, then you know this. You know about endowment effects. You know about mental accounting. You know about anchoring and the pain of paying. We know this. If you don't, then you might be interested, but a little confused by the lack of experimental detail (clue: behavioral economics experiments are always conducted on impoverished students who, at the very least, know that an experiment is being conducted. The sample sizes and general methodological lack of rigour would never pass for something serious, say a drug trial)

    So you don't get detail. But you do get homespun whimsy. And jokes. This is Mr Kreisler's contribution to the enterprise. Apparently, he was a banker, but is now a comedian and one must assume that what passes for comedy in this book is his responsibility. Its not good. The jokes are so feeble, so suburban, so very very white, and paint a picture of such unremitting blandness that one shudders. I have seen the future - and it is one of nauseating boredom. Mr Kreisler should go back to banking

    The authors do present a convincing picture of why we are bad with money and why, as payment becomes ever easier, we are probably going to get even worse with it. What they do not do, is to present any solutions. Solutions are difficult - but you would expect the authors to be familiar - as they undoubtedly are - with Nudge Units and the work of Thaler and Sunstein. Thaler gets a couple of mentions, Sunstein does not. One suspects a tiff. As for Kahneman and Tversky the fathers of the discipline, well, shall we say they are conspicuous by their absence.

    So - overall if you don't know any behavioral economics there are worse places to start. But this is a dumbed down version of an interesting field of study. I'd advise digging deeper ( )
    1 vote Opinionated | Feb 11, 2018 |
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    Business. Finance. Nonfiction. HTML:

    Blending humor and behavioral economics, the New York Times bestselling author of Predictably Irrational delves into the truly illogical world of personal finance to help people better understand why they make bad financial decisions, and gives them the knowledge they need to make better ones.

    Why does paying for things often feel like it causes physical pain? Why does it cost you money to act as your own real estate agent? Why are we comfortable overpaying for something now just because we've overpaid for it before?

    In Dollars and Sense, world renowned economist Dan Ariely answers these intriguing questions and many more as he explains how our irrational behavior often interferes with our best intentions when it comes to managing our finances. Partnering with financial comedian and writer Jeff Kreisler, Ariely takes us deep inside our minds to expose the hidden motivations that are secretly driving our choices about money.

    Exploring a wide range of everyday topicsā??from credit card debt and household budgeting to holiday salesā??Ariely and Kreisler demonstrate how our ideas about dollars and cents are often wrong and cost us more than we know. Mixing case studies and anecdotes with tangible advice and lessons, they cut through the unconscious fears and desires driving our worst financial instincts and teach us how to improve our money habits.

    Fascinating, engaging, funny, and essential, Dollars and Sense is a sound investment, providing us with the practical tools we need to understand and improve our financial choices, save and spend smarter, and ultimately live better

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