The Infinite Number of Shades of Gray (Episode 7)

Posted by under Mindsetting, Podcast . Published: February 20, 2020

Listen to Episode 7

Summary of Episode 7:

Ipon o Travel? Why this is a difficult dilemma for a lot of people, especially young urban professionals. (1:35)

“People often think spending money on an experience is not as wise an investment as spending it on a material possession. They think the experience will come and go in a flash, and they’ll be left with little compared to owning an item. But in reality we remember experiences long afterward, while we soon become used to our possessions. At the same time, we also enjoy the anticipation of having an experience more than the anticipation of owning a possession.” –Thomas Gilovich (2:05)

Research Link: Getting the Most for the Money: The Hedonic Return on Experiential and Material Purchases

How do you solve the dilemma of choosing between enjoying life today, and saving money for the future. (3:10)

Discussing the concept of the tyranny of “OR” and the genius of “AND”. (3:40)

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Book Mention: Built to Last: Successful Habits of Visionary Companies

Instead of choosing between Ipon or Travel, ask yourself, “How can I do both? Paano ako makakapag-ipon AT makakapag-travel?” (5:35)

“People will always prefer black-and-white over shades of grey, and so there will always be the temptation to hold overly-simplified beliefs and to hold them with excessive confidence.” –Thomas Gilovich (6:05)

How social media is guilt-tripping us into choosing between enjoying life today and saving money for the future. (6:25)

When it comes to our financial decisions, the choice is not always black or white. You can choose between the infinite number of shades of gray; that point which satisfies your personal need to enjoy today and not worry about your future. (9:35)

Question of the Week:
What was your first impression when you read the title of this episode?

Episode 7 Hashtags: #The80Percent #InfiniteShades

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