Research has some insight into motivations for making consumer decisions. Kahn (2005) summarized the goals used by consumers to guide their decision-making. The first and most powerful goal is that we all want to make decisions that will make us the happiest and most satisfied. Economists call that “maximizing utility.” We do have limits on […]
Money
Pick a Better Posey
Roses are the traditional flower gift given on Valentine’s Day. They symbolize love and passion, particularly the color red. It stands to reason that many wives and girlfriends will receive red roses on February 14th. That being said, all you guys getting ready to purchase flowers might want to consider other color choices. Heck, you might […]
Green²: Frugality Buys You Two for One
The three “R’s” used to mean school subjects: reading, (w)riting, and (a)rithmetic. Now they stand for “reduce, reuse, and recycle.” The current slogan has become a rallying point for people wanting to save the environment. However, these environmental practices are not new. They actually started in the 1940’s as a way to support the war […]
What Separates a Have from a Have-Not?
One of the surest ways to create a heated discussion with someone is to bring up the subject of welfare. Everyone has an opinion about public assistance, and what the government should do to expand or downsize “the system.” Whether you think it should get bigger or smaller will depend on your perception of why […]
Getting to Enough
One of my favorite financial references is a small book with a big title; “Your Money or Your Life: Transforming Your Relationship with Money and Achieving Financial Independence.” It was written by Joe Dominguez and Vicki Robin, and is a thought provoking referendum on consumption and personal money management. I teach a lot of financial […]
Diapering Your Baby’s Butt: What Choice Will You Make?
Are you trying to reduce expenses from the family budget? If your family includes young children in diapers, then brace yourself, because I’m going to bring up the “D” word. Parents with young children spend approximately $20-30 per week on disposable diapers. That’s a big chunk of money. To see exactly how big of a chunk […]