In his latest blog post, marketing guru and best-selling author Seth Godin offers a no-nonsense take on how to make decisions about money. The conclusion: think about what you’re actually exchanging, and stop using empty numbers.
Consider: you’re buying a $30,000 car and you have the option of upgrading the stereo to the 18 speaker, 100 watt version for just $500 more. Should you?
…Comparing dreams of a great stereo (four years of driving long distances, listening to great music!) compared with the daily reminder of our cheapness makes picking the better stereo feel easier. After all, we’re not giving up anything but a number.
Here’s how to undo the self-marketing. Stop using numbers.
You can have the stereo if you give up going to Starbucks every workday for the next year and a half. Worth it?
Read more: Making big decisions about money.