Treasure of the Day
Friday, June 21, 2019!
WHAT IS TODAY’S TREASURE?
An article about how the concept of “anchoring” can help people take better control of their money spending decisions.
HOW’D YOU DISCOVER IT?
The trusty personalized Google News feed! This is starting to become a pattern, isn’t it? But, why fix what isn’t yet broken!
WHAT DO YOU LIKE ABOUT IT?
1. It inspires me to take control of my own financial destiny. I like how the author described one example to make the point that we often use other people’s “anchors” instead of our own. Then, she presents how we can use anchoring based on our own terms.
2. Multiple ways to anchor. I also liked how the article provided two different ways to go about the anchoring. The examples were very clear-cut and easy to follow.
HOW MIGHT THIS BE USEFUL FOR ME?
Keeping money spending habits in check can be very difficult. Especially in a world and society in which “keeping up” is prevalent, we need to be able to look out for ourselves. This article is a great reminder that we first need to determine what is personally valuable and worthy. Once we figure that out, we can develop a strong foundation upon which we make rational money spending decisions.
ANY FINAL COMMENTS?
As simple as this concept is, it’s a great reminder that the money we’re able to spend came with at least some sort of work or effort to obtain it. When we can figure out what really matters for us (and not care too much about how other people perceive what we spend money on), our chances of financial control are much better.
“This article is a great reminder that we first need to determine what is personally valuable and worthy. Once we figure that out, we can develop a strong foundation upon which we make rational money spending decisions.”