The Psychology of Saving Money: How to Train Your Brain to Save
Due
JULY 5, 2023
It’s called the “$100 Bill Challenge.” Mac Gardner, a financial literacy advocate, shows elementary school students a $100 bill and asks them how they might use it. Nine students out of ten say they would spend it. This says a lot about the psychology of saving money — Gardner says that Americans “are programmed to consume at an early age.” Maybe that’s why it’s so difficult to cut back on those gourmet coffees on the way to work.
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