I really like to envision "future me" whenever making any sort of financial decision. Future Me is pretty cool! I like him. I want to take care of him.
“… tendency to choose immediate rewards and avoid immediate costs even if you know those decisions are not in your best interest in the long run.”
Present bias afflicts many and most. It’s a fun thought experiment to consider people with the same incomes getting drastically different results with their money. As ‘ol Dave Ramsey says, getting good with money is 90% behavior and 10% head knowledge
I really like to envision "future me" whenever making any sort of financial decision. Future Me is pretty cool! I like him. I want to take care of him.
“… tendency to choose immediate rewards and avoid immediate costs even if you know those decisions are not in your best interest in the long run.”
Present bias afflicts many and most. It’s a fun thought experiment to consider people with the same incomes getting drastically different results with their money. As ‘ol Dave Ramsey says, getting good with money is 90% behavior and 10% head knowledge