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- Loss aversion - Failure to account for inflation in saving & spending planning - Lifestyle inflation - Failure to understand the power of compound interest -
by calgaryeng 14y ago
- Loss aversion
- Failure to account for inflation in saving & spending planning
- Lifestyle inflation
- Failure to understand the power of compound interest
- Failure to understand impact of sunk costs on your potential financial outcomes
- sk5t 14y agoInterest on savings? What is that?
- jpdoctor 14y agoLong long ago in a universe not too far away, there used to be interest awarded on savings. However, most people didn't realize that the quantity of money was being increased because they had not figured out the workings of the Federal Reserve, or what M2 is. Inflation ate away almost all of their interest right in front of their backs.