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The people that lend you money basically give you an answer based on the risk that they are willing to take. But just because a bank is willing to take a particular risk doesn't mean that that is the right amount for me to spend.

Dan Ariely

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Dan Ariely
Age: 57
Born: 1967
Born: April 29
Economist
Pedagogue
Professor
Psychologist
University Teacher
Writer
New York City
New York
People
Answers
Basically
Doesn
Based
Money
Answer
Give
Spend
Take
Amount
Right
Risk
Giving
Willing
Lend
Mean
Particular
Bank

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The things that motivate us are to help other people, to feel that we're useful, to feel that we're getting better, to feel that we are kind of living to our potential, to get a sense of meaning. All of those things are positive.
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When you're in pain, tomorrow doesn't exist - just the pain - and the only thing that you want in the world is for it to go away.
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Rainy day savings are incredibly important, because from time to time, bad things happen. And if you're not prepared for that, it's going to be really terrible.
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Companies, however unintentionally, choke the motivation out of their employees.
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When you get a checking account, you should have a savings account, and the number for the savings account should be one off of your checking account.
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People are willing to work free, and they are willing to work for a reasonable wage but offer them just a small payment and they will walk away.
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One of the big lessons from behavioral economics is that we make decisions as a function of the environment that we're in.
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I think we could get people to both be more productive and happier. We're less productive as individuals. We're less productive as companies, and we're more miserable.
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When we think about labor, we usually think about motivation and payment as the same thing, but the reality is that we should probably add all kinds of things to it - meaning, creation, challenges, ownership, identity, pride, etc.
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The problem with opportunity cost is that opportunity cost is divided among many, many things.
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Disasters are usually a good time to re-examine what we've done so far, what mistakes we've made, and what improvements should come next.
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While we somehow understand revenge on an intuitive level between individuals, I do suspect that companies, assuming that people are rational, completely miss and underestimate the motivation people have for revenge.
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For all of us, it's very hard to think about money, and because of that, we need help. In the same way that for all of us, it is hard to eat well, and we need some help. The poor have a particular challenge, which is that their life is actually much more complex - and they're much more complex cognitively.
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It was shocking to realize how many low-income Americans don't have savings accounts.
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The companies that provide debt, what do you think their goal is? Is their goal for you to fully understand the cost of your debt? No. So they're basically creating these approaches to make you feel like it is incredibly cheap or just to think about the cost per day rather the cost per year or cost for a lifetime. So debt is very simple mistake.
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In life we encounter many people who, in some way or another, try to tattoo our faces.
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Money is all about opportunity cost. Every time you spend on something, that's something you can't spend on something else.
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With everything you do, in fact, you should train yourself to question your repeated behaviors.
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Honesty is a complex and tricky thing, and we don't want to be honest all the time.
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We need to believe that we're good people, and we'll do just about anything to maintain that perception.
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