Saturday, October 8, 2011

How to strategically evoke cognitive dissonance

If you complain about Wall Street’s fat-cat greed, can you tell me what fees you’re paying on your investment funds?

If you complain about taxes, which tax-advantaged accounts do you use?

If you think that other people “waste” money on $200 jeans, $400 shoes, or $600 phones, what would you say if I told you that with a 10-minute review of your spending and a 20-minute phone call, I could show you how 20% of your discretionary spending is “wasting” money”?

Food for thought.

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Learn psychology. Check out hundreds of psychology links I’ve personally annotated in my psychology bookmarks. Also, if you start thinking you know everything about psychology, read this.

What’s the best $20 you’ve ever spent? I partnered with my friends at AARP’s new website, Lifetuner, to launch a contest about this very question: “What’s the best $20 you’ve ever spent?” The winner gets an iPad. I’m the judge, so make it good. Here’s the link (ends November 3rd): What’s the best $20 you’ve ever spent?


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