Affective Forecasting: Why we’re horrible at predicting how money will make us feel
P$yFi | Psychological Finance · The Redstone Rocket
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Show Notes
Money really does not buy happiness, but we consistently overpredict that it will. “If only I could get that promotion, then I would be happier.” This is called affective (feeling) forecasting, in which we fail miserably each time. We even fail to predict what will make us unhappy. Listen in on how we tend to get our future selves mixed up with an unknown person. Discover how empathizing with your future self can actually improve your financial well-being.
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