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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.

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
Accounts
Number
Numbers
Checking
Savings
Account
Saving

More quotes by Dan Ariely

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When we save, everybody in the household is just suffering. By having the coin in a visible way, when you scratch, you can say the person that is in charge of the making money for the family is doing the right thing.
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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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In life we encounter many people who, in some way or another, try to tattoo our faces.
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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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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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I don't think we should go around life and being miserable all the time and feel the pain of paying. It's a question of what categories we want to spend more on and what categories we want feel that we are spending too much on and we want to cut down.
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Not all debt is bad. From time to time we should get into debt when there's a good reason for that.
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Linking financial element to energy consumption I think has a huge role if you think about a display instrument that could teach us about what we are using, how much it costs us, how much it is saving, and therefore change our decisions.
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People are irrational - and predictably so.
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I don't know what exactly the translation is but when we do consume something now, something else has to give at some point.
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The problem is that people basically dangle debt in front of us. And the cost for the poor of course is much higher than for the wealthy.
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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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It is very difficult to make really big, important, life-changing decisions because we are all susceptible to a formidable array of decision biases. There are more of them than we realize, and they come to visit us more often than we like to admit.
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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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We have very strong intuitions about all kinds of things — our own ability, how the economy works, how we should pay school teachers. But unless we start testing those intuitions, we’re not going to do better.
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The most difficult thing is to recognize that sometimes we too are blinded by our own incentives. Because we don’t see how our conflicts of interest work on us.
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When parents have college savings accounts for their kids, their kids show higher social and cognitive performance.
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Motivation, basically getting people to be happy at work, everybody - everybody benefits.
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Giving up on our long-term goals for immediate gratification, my friends, is procrastination.
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We should teach the students, as well as executives, how to conduct experiments, how to examine data, and how to use these tools to make better decisions.
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