Is money bad?


Money Makes You Less Rational Than You Think

Many of us believe that money brings out our calculating sides, inspiring decisions that are motivated by rational self-interest. But new evidence suggests that money does the opposite, leading to druglike mental states and irrational choices that are anything but sound. We get super weird around money, no doubt about it. Friends we thought we knew suddenly turn into different people when it comes time to pay the bill. Families get torn apart when loans aren’t paid back on time. We obsess over nickel-and-dime transactions, but then buy something crazy-expensive for something we don’t even really need. But is it money that makes us act in these strange ways, or is it our approach that’s the problem? As the latest research attests, it’s actually a bit of both. We may be predisposed and biased towards certain behaviors around money — but that doesn’t mean we can’t be aware of these proclivities and change our attitudes accordingly. ….[READ]


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