RE: Mental Accounting: A Critic Into Your Preferences
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For example while we might place more value to the money we worked hard for, we might not do the same for another person's money in the same way we have done to ours.
This is truly true. But not secluded to money but also knowledge. I have had instances where I wanted to learn from my mentors but they I to pay just because they believe that if I spend to acquire the knowledge, I won’t value it. Well they were right though.
Another instance was when I was little, my uncle wanted to gift me his old phone free but my mum stopped him saying that I must work for it if not I won’t value it.
Well as you said, we are humans chasing comfort. Thanks for this.
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This is exactly true, we attach more value to the Money we have worked for, anything that's non-monetarily beneficial. Mental accounting can make us wasteful to some extent. It takes personal discipline to value what we didn't work for
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Yes boss.
I guess I will have to train myself on that because I'm a victim 😂😂😂