Category Archives: Spending Money

Social Proof: Are They Faking It?

We’ve all used social proof (in one form or another) to help us make a decision, especially in situations where we’re feeling unsure. That “proof” could take many forms, such as:

  • Glancing around to see which restaurant seems to be most popular
  • Noticing how many subscribers a blog has
  • Seeing a celebrity endorsement
  • McDonalds with its “billions and billions served” signs
  • Tweet counters & Facebook thumbs-up counters
  • Testimonials
  • Online reviews and star ratings
  • Etc.

As Yaro Starak says, “Social Proof exists because we group together in a society. All other people around you and what choices they make, are pushing or pulling you to do or not do certain things. This is an incredibly strong force when it comes to influencing our behaviors.”
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Is That Really a Good Deal?

I’ve heard people proudly announce that something was a great deal because their payment “only went up $45 a month!” (for who knows how long.)

I have to say, that’s probably not my idea of a great deal.

I’ve also heard people say that they got a great deal because an item was 50% off. That actually could be a good deal — given the right set of circumstances — but my first instinct is to wonder “off what?”. After all, if it was 50% off the store’s regular price of $100, but you can buy it on Amazon for $30 including shipping, it wasn’t a deal. » Read more

Spending Spot-Check

How’s your spending lately? Are you on track with your expenses and savings?

If you don’t know the answer to that last question (or if the answer is “no”), it’s time to take a closer look at what you’re spending your money on to see if any of your categories are out of whack. » Read more

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