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How to Buy Happiness and Other Brain Tricks to Smarter Spending by Melissa Leong

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Information about How to Buy Happiness and Other Brain Tricks to Smarter Spending by...
Finance

Published on February 24, 2014

Author: riscario

Source: slideshare.net

Description

Just because you are financially literate does not mean you make the right decisions. The problem may not be what you know. The problem may actually be your brain. Melissa talks about some of the most exciting scientific findings that combine neuroscience, behavioural studies and economics and how we can use the research to behave better with our money.

Melissa Leong is a personal finance writer at the Financial Post (@liselong). Here are the slides from her presentation at Insider Advice for Today's Topsy-Turvy Times, which took place at the Ted Rogers School of Management on February 6, 2014. Details at http://bit.ly/money5050b
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Money 50/50: Insider Advice for Today's Topsy-Turvy Times Feb 6, 2014 Brains on Money! This is your brain on money. By Melissa Leong 1 Presented live at the Ted Rogers School of Management 1 of 26 money5050.com

Money 50/50: Insider Advice for Today's Topsy-Turvy Times Feb 6, 2014 Brains on Money! You impulse buy. The problem: By Melissa Leong 2 Presented live at the Ted Rogers School of Management 2 of 26 money5050.com

Money 50/50: Insider Advice for Today's Topsy-Turvy Times Feb 6, 2014 Brains on Money! The problem: By Melissa Leong 3 Presented live at the Ted Rogers School of Management 3 of 26 money5050.com

Money 50/50: Insider Advice for Today's Topsy-Turvy Times Feb 6, 2014 Brains on Money! Outsmart yourself! The fix: By Melissa Leong 4 Presented live at the Ted Rogers School of Management 4 of 26 money5050.com

Money 50/50: Insider Advice for Today's Topsy-Turvy Times Feb 6, 2014 Recognize when your will power is strong. Brains on Money! The fix: Outsmart yourself! By Melissa Leong 5 Presented live at the Ted Rogers School of Management 5 of 26 money5050.com

Money 50/50: Insider Advice for Today's Topsy-Turvy Times Feb 6, 2014 Recognize when your will power is strong. Brains on Money! Institute a waiting period for your purchases. The fix: Outsmart yourself! By Melissa Leong 6 Presented live at the Ted Rogers School of Management 6 of 26 money5050.com

Money 50/50: Insider Advice for Today's Topsy-Turvy Times Feb 6, 2014 Recognize when your will power is strong. Brains on Money! Institute a waiting period for your purchases. The fix: Outsmart yourself! Pay yourself first. By Melissa Leong 7 Presented live at the Ted Rogers School of Management 7 of 26 money5050.com

Money 50/50: Insider Advice for Today's Topsy-Turvy Times Feb 6, 2014 Brains on Money! You feel no pain when you spend. The problem: By Melissa Leong 8 Presented live at the Ted Rogers School of Management 8 of 26 money5050.com

Money 50/50: Insider Advice for Today's Topsy-Turvy Times Feb 6, 2014 Brains on Money! The fix: Bring the pain! By Melissa Leong 9 Presented live at the Ted Rogers School of Management 9 of 26 money5050.com

Money 50/50: Insider Advice for Today's Topsy-Turvy Times Feb 6, 2014 Use cash and limit the use of your credit card. Brains on Money! The fix: Outsmart yourself! By Melissa Leong 10 Presented live at the Ted Rogers School of Management 10 of 26 money5050.com

Money 50/50: Insider Advice for Today's Topsy-Turvy Times Brains on Money! Feb 6, 2014 The fix: Bring the pain! By Melissa Leong 11 Presented live at the Ted Rogers School of Management 11 of 26 money5050.com

Money 50/50: Insider Advice for Today's Topsy-Turvy Times Brains on Money! Feb 6, 2014 The fix: Bring the pain! By Melissa Leong 12 Presented live at the Ted Rogers School of Management 12 of 26 money5050.com

Money 50/50: Insider Advice for Today's Topsy-Turvy Times Brains on Money! Feb 6, 2014 The fix: Bring the pain! By Melissa Leong 13 Presented live at the Ted Rogers School of Management 13 of 26 money5050.com

Money 50/50: Insider Advice for Today's Topsy-Turvy Times Feb 6, 2014 Use cash and limit the use of your credit card. Brains on Money! The fix: Outsmart yourself! Reflect and feel the burn. By Melissa Leong 14 Presented live at the Ted Rogers School of Management 14 of 26 money5050.com

Money 50/50: Insider Advice for Today's Topsy-Turvy Times Feb 6, 2014 Use cash and limit the use of your credit card. Brains on Money! The fix: Outsmart yourself! Reflect and feel the burn. Look at alternatives. By Melissa Leong 15 Presented live at the Ted Rogers School of Management 15 of 26 money5050.com

Money 50/50: Insider Advice for Today's Topsy-Turvy Times Brains on Money! The fix: Bring the pain! By Melissa Leong Feb 6, 2014 Study: People were 20% less willing to buy a $15 DVD if the option to "not buy" was described as "keeping money for other purchases." 16 Presented live at the Ted Rogers School of Management 16 of 26 money5050.com

Money 50/50: Insider Advice for Today's Topsy-Turvy Times Brains on Money! The fix: Bring the pain! By Melissa Leong Feb 6, 2014 Study: The choice to buy a 16GB iPod Touch over a 32GB iPod Touch doubled when accompanied by the phrase: "Leaving you $100 in cash." 17 Presented live at the Ted Rogers School of Management 17 of 26 money5050.com

Money 50/50: Insider Advice for Today's Topsy-Turvy Times Feb 6, 2014 You get distracted by day-to-day living and forget longterm goals. Brains on Money! The problem: By Melissa Leong 18 Presented live at the Ted Rogers School of Management 18 of 26 money5050.com

Money 50/50: Insider Advice for Today's Topsy-Turvy Times Feb 6, 2014 Brains on Money! Get peer support. The fix: By Melissa Leong 19 Presented live at the Ted Rogers School of Management 19 of 26 money5050.com

Money 50/50: Insider Advice for Today's Topsy-Turvy Times Feb 6, 2014 Brains on Money! You’re trying to buy happiness. The problem: By Melissa Leong 20 Presented live at the Ted Rogers School of Management 20 of 26 money5050.com

Money 50/50: Insider Advice for Today's Topsy-Turvy Times Brains on Money! Feb 6, 2014 The problem: You’re trying to buy happiness. By Melissa Leong 21 Presented live at the Ted Rogers School of Management 21 of 26 money5050.com

Money 50/50: Insider Advice for Today's Topsy-Turvy Times Feb 6, 2014 Brains on Money! Spend not on things. The fix: By Melissa Leong 22 Presented live at the Ted Rogers School of Management 22 of 26 money5050.com

Money 50/50: Insider Advice for Today's Topsy-Turvy Times Feb 6, 2014 Spend on experiences. Brains on Money! The fix: Spend not on things. By Melissa Leong 23 Presented live at the Ted Rogers School of Management 23 of 26 money5050.com

Money 50/50: Insider Advice for Today's Topsy-Turvy Times Feb 6, 2014 Spend on experiences. Brains on Money! The fix: Spend not on things. Make things a special treat. By Melissa Leong 24 Presented live at the Ted Rogers School of Management 24 of 26 money5050.com

Money 50/50: Insider Advice for Today's Topsy-Turvy Times Feb 6, 2014 Spend on experiences. Brains on Money! The fix: Spend not on things. Make things a special treat. Spend on others. By Melissa Leong 25 Presented live at the Ted Rogers School of Management 25 of 26 money5050.com

Money 50/50: Insider Advice for Today's Topsy-Turvy Times Feb 6, 2014 Brains on Money! By Melissa Leong Thank you. financialpost.com @lisleong 26 Presented live at the Ted Rogers School of Management 26 of 26 money5050.com

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