If you ever kept a gym membership long after it has become clear that you are not now and will never be a gym rat, then you have felt the effects of loss aversion. This particular effect of behavioral economics explains why people are more likely to work to avoid a loss than they are […]
Since owning rental property for the past 23 years is what allowed me to retire at the age of 45, I can offer some tips on how to rent to decent people who will pay their rent on time and won’t trash your house or apartment. Before I share those tips, let me first tell […]
When it comes to making money decisions, we all like to think that we are rational creatures who will make the best decisions for our self-interests. Unfortunately, much more goes into any decisions we make than a simple cost-benefit analysis. Advertisers and retailers have long understood the irrational impulses that drive consumers, and economists are […]
Many people have a dream of retiring early so they can enjoy their time away from the grind. However, it is important to realize that there are some very real drawbacks to early retirement. The main issue is that you can’t begin taking distributions from your tax advantaged retirement account, penalty free, until you are […]
Are you throwing money away by spending more on products that have little to no lasting effect on your life? If we examine the why behind a purchase decision closely, we might find that just because mother paid $4.99 for Mead writing tablets, it may not be the wisest shopping choice today. One of the […]
Balancing your home budget has never been easier or more enjoyable with the widespread advent of feature-packed iPad and iPhone apps. If you one of these slick devices, check out these four iPad and iPhone apps for financial management that rose to the top of the charts. 1. Home Budget with Sync- free/$4.99 Home Budget […]
