In an article about how emotions can sabotage your retirement, Yahoo! referenced the documentary “Thinking Money: The Psychology Behind Our Best and Worst Financial Decisions.” This program presents the idea that, “According to the field of behavioral economics, humans are practically hard-wired to overspend and let their emotions steer their financial decisions (often in the wrong direction).”
Overpaying: Some of us prefer brand name items that are equal to or lower in quality to generic products because we want to buy into the prestige associated with the name.
Yahoo! points out that the same thing that happens at the …Read More