Challenging Money: Memorial Day Edition

Many of you will be getting on the road today to enjoy a long Memorial Day weekend out of town. We’re staying put, instead saving up our vacation time for an overseas trip later this year.

As the week winds down, I found three posts worthy of your attention today before your mind turns to relaxation this weekend. They are:

#1: Budgets are Sexy, When a Discount Isnt Really a Discount. Otherwise known as the crash course in anchoring and how it’s used to get you spending more money. One of the more interesting segments of this post describes an experiment that showed how anchoring affects our answers to the same seemingly simple questions. And then, of course, is how all this relates to our shopping habits:

“How do you think Macy’s gets away with a constant flow of 20% off Friends & Family discount coupons? Or why is there a store next to Rockefeller Center in New York that’s been holding a 50%-off going out of business sale for three years running?”

#2: The Simple Dollar, Ten More Giant Money Wasters. When CNN published their list of 10 money wasters, which included brand-name groceries and daily Internet deals, Trent couldn’t resist adding to the list. Among the Simple Dollar’s list are things like bottled water and new cars:

“The new car should be your last resort once you’ve inspected the wide variety of top-quality used cars available. Remember, businesses often just lease new cars and many barely-driven used cars come off of lease all the time.”

#3: WiseBread, 25 Healthy Changes You Can Make Today. I believe that it’s infinitely more difficult to succeed with money if you are unable to succeed with your health. Part of the reason is that both operate on similar principles–the ability to manage one usually means the ability to manage the other. That’s why I loved WiseBread’s list of ideas for making health part of our daily life. #23 suggests you get a massage–I’m happy to oblige:

“From increasing circulation and flexibility to easing muscle aches and pinched nerves to improving brain wave activity, massage combines good feeling with healthy living.”

Have a fantastic weekend!

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