BETA
Chapter 1
The physical pain of paying
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Answer
Chapter 2
Cognitive traps in the supermarket aisle
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Answer
Chapter 3
Keeping up with the global Joneses
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Chapter 4
The emotional mind and mental accounting
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YOUR GOAL
Master of The psychology of spending
Ch 3 · Keeping up with the global Joneses
nic Swipe away tempting deals to discover how sneaky marketing tricks trigger impulse spending.
nic Keeping Up with the Joneses
My neighbor bought a shiny car and put it on display, Now I am going broke to live the same expensive way.
nic Social media has created a global, 24/7 window into other people's idealized lifestyles.
nic In many Asian cultures, luxury spending is driven by the concept of maintaining social face.
Fun Fact
The Diderot effect: French philosopher Denis Diderot went into debt replacing his furniture because his new luxury robe made his old belongings look too cheap.
Quiz
Which philosopher gave his name to the effect where one purchase triggers a spiral of more purchases?
Quiz
What percentage of millennials reported spending money they didn't have to keep up on social media?
Quiz
According to a McKinsey report, what fraction of global luxury spending was driven by Chinese consumers?