The Science of Smarter Spending #1167 (Bestie Ep)

We love nerdy board games! And one of the things that makes them fun, besides getting to play them with friends and family, is the competition for scarce resources. For instance with the Settlers of Catan, it takes a few rounds of play to get the resources you need to build the settlements, cities, and development cards that help you rack up victory points in Catan. It’s a classic that still holds up, and like most games it's all about tradeoffs. Should you focus on building a road or upgrading to a city? You can’t do it all and you can’t get everything you want all at once. And it turns out that our financial lives are kind of like a game of Catan as we’re always making tradeoffs as well- in particular when it comes to our expenses. We’re torn between the decision of spending big money on an item that we know is going to last, versus an inferior item that will get the job done- at least for a little while, before inevitably breaking. Today we talk about the pros and cons of planned obsolescence, the culture of disposability, the buy it for life movement, as well as changing the way we think to ensure that we’re allocating our dollars to maximize satisfaction!

Want more How To Money in your life? Here are some additional ways to get ahead with your personal finances:

• Credit card perks: Check out our favorite credit cards that we use to maximize rewards and optimize our spending.
• Other money nerds: Find a thriving community of fellow money nerds by joining the HTM Facebook group!
• Newsletter: Sign up for the weekly HTM newsletter. It’s fun, free, & practical.
• Money Gears: knowing what to do with your money is crucial to your personal finance journey.
  • MG7: and maybe you’re well on your way to financial independence but you’re looking for some financial reassurance, that’s when heading over to HowToMoney.com/Advisor and getting matched with a highly vetted financial advisor makes sense.

During this episode we enjoyed a Song of Winter by Hill Farmstead- a big thanks to Michael and Emily for sending this one our way! And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money!

Best friends out!

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