Mind Over Money

The video “Mind Over Money” made me think about the way I dictate my financial decisions and if I’m more rational or irrational when it comes to spending. Throughout the video many interesting experiments were shown and spoken about. The experiments were mainly to show if humans use emotions when making decisions about money or rather their more rational about their decisions. The results to most of the tests were astonishing, but they mad perfect sense. In addition to the trials, a ton of assumptions were given by scientists and other reliable sources. Some of those beliefs were that people use rational and self interest behavior to make their decisions about money, mainly saying, will this make me wealthy and how will it benefit me? Or another being, people use calculations, or in other words, people don’t make calculations but behave as if they do. Towards the end of the tape, the video ties together all the little experiments with big crashes and beliefs, such as the 1990’’s-20’s and todays age and time. It states that markets get its prices from us and the economy and that it’s based on a system of us knowing what we can afford and making the right decisions. It gives the example of Mortgages and shows …show more content…
I try not to, but most of the time it happens. When I want something, then I want it, and I get it. This is definitely not always a good thing. When looking at the tests that were given in this video, compared to myself, I know I would have taken the hundred dollars on the same day but would have also said that I’d wait the year and day to get the extra dollar. I like to make myself believe that I do calculations in my head but all and all, I don’t. I know that my emotional desire to beat people out for things and always have the best objects is the reason that I pay the prices that I pay for