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Learn the key ideas of the book by D. Ariely , J. Kreisler

Dollars and Sense

The common mistakes that we make with money and how to spend it better

Dollars and Sense by Dan Ariely and Jeff Kreisler shows us the automatic behaviours that people have when it comes to money. Looking at the most common spending habits, we will explore some of the most impactful mistakes that we make when we are around money and the reason why we tend to make them. Dollars and Sense will help us to understand how to make our spending habits more rational and turn us into better savers.

Dollars and Sense
Read in 12 min.
Listen in 15 min.

Many useful tips to:

  • Understand the psychological side of money.
  • Realise that our spending could be more rational.
  • Understand how and why it is important to carefully think about what to spend our money on.

The author of the book:

Dan Ariely is a professor of psychology and behavioural economics at Duke University, he founded the Centre of Advanced Hindsight, where he studies behavioural interventions that help people wise up in their relationship with money and inevitably become happier, healthier and richer. Dan was the co-creator of the documentary (Dis)Honesty, the Truth of the Lies. He lives in North Carolina with his family.

Jeff Kreisler is a Princeton educated lawyer who later became an award-winning actor and author. He feels that the study of behavioural economics is something that society really needs. He had the idea that serves the study of behavioural economics. The New York Times calls him “delectable”. His first book was the satire “Get Rich Cheating”.


What is our view on money and how can we change it?

Most of us think about money pretty often: how much we have, how much we need, how to get more and how to get the things that we want. This book is not a financial anthology, neither is it a summary of what we should do with our money. We are going to take a closer look at what we think about money, and what are the gaps between our conscious understanding of money, of how money works, the way we actually use money and how we should rationally think about money and use it.  So throughout this book we are going to look at the situation from another point of view: we are going to look at the biggest and most common mistakes that we make when we interact with money and the reasons why we make these classic mistakes. All this will help us fully understand how to detach ourselves and make better financial decisions, or at least the most appropriate decision for the situation at hand.


The key ideas of "Dollars and Sense"

What is our view on money and how can we change it?
What is money? Values and ways to use it
How to learn to assess the correct value of money
Three strategies to give money a real value
Be careful around money but don’t worry about it too much!
Take-home message

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