As inflation makes its way through every corner of the economy, it can put pressure on consumers and their wallets. Are there ways consumers can help ease...
As inflation makes its way through every corner of the economy, it can put pressure on consumers and their wallets. Are there ways consumers can help ease financial worries besides just collecting coupons?
"We did a study with lots of consumers, and we showed them their credit card spending, and we say, 'Please tell us for each of those, to what extent do you regret it?'" Ariely explains, adding:"We found that the category that people felt they regretted the most was going out. And by the way, it's not because going out is a bad decision. But people felt that they go out and they end up eating too much and spending too much.
There was one study where they took people when they got out of the supermarket with their shopping carts, they stopped them, they took the receipts and they said, could you tell me what's the prices of different items?Uh we look at the total price and we're shocked by how big it is, but we don't look at the individual items.
We did a study with lots of consumers and we showed them their credit card spending and we said, please tell us for each of those to what extent do you regret it?We don't really visit our choices um going backward that much. Now, that's one thing, the second thing is that one of the easiest things to create are bubbles on the up and on the down.And of course, both of those things are very dangerous for our financial well being, seeing patterns with non exist is very dangerous following the herd on the ups and the downs are also very dangerous.
And I'll tell you something that I do in times of stress, I find that the market adds to stress even more and I want to be able to focus on my work.
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