I used to have a bad habit. Every night at 10 PM, I would lie in bed, unlock my phone, and open the Amazon app. I wasn’t looking for anything specific. I was just… looking. I would scroll through “Daily Deals.” I would check “Recommended for You.” Thirty minutes later, I had bought a new … Read more
It started innocently enough. I bought a new desk. My old desk was scratched and wobbly, so I bought a beautiful, sleek, white minimalist desk from IKEA. It cost $150. I felt like I had made a “Smart Price” decision. But when I set up the new desk, I noticed a problem. My old, dusty … Read more
There is a famous concept in economics—often called the “Boots Theory”—that explains why it is so expensive to be poor. The theory goes like this: A rich man buys a pair of high-quality leather boots for $100. They last for 10 years. A poor man cannot afford $100. So, he buys a cheap pair of … Read more
Have you ever stood in line at a movie theater, stared at the menu board, and felt your brain glitch? You look at the prices: Small Popcorn: $6.00 Medium Popcorn: $7.00 Large Popcorn: $7.50 You probably walked in wanting the Small. It’s enough food. But then you look at the Medium. It’s only $1 more. … Read more
You know the feeling. You are scrolling through Amazon, or walking through a Best Buy, and you see it. A shiny new pair of headphones or a 4K TV with a price tag that looks too good to be true: ~~$399.99~~ $199.99 (50% OFF!) Your brain releases a sudden hit of dopamine. You panic. You … Read more