When You're In Pain, Tomorrow Doesn't Exist

When It Comes To The Mental World, When We Design Things Like Health Care And Retirement And Stock Markets, We Somehow Forget The Idea That We Are Limited. I Think That If We Understood Our Cognitive Limitations In The Same Way That We Understand Our Physical Limitations … We Could Design A Better World.

I Don't Think We Should Go Around Life And Being Miserable All The Time And Feel The Pain Of Paying. It's A Question Of What Categories We Want To Spend More On And What Categories We Want Feel That We Are Spending Too Much On And We Want To Cut Down.

Disasters Are Usually A Good Time To Re-examine What We've Done So Far, What Mistakes We've Made, And What Improvements Should Come Next.

Imagine You Have Six Loans, Small To Huge. People Want To Close Loans And Because Of That, They Try To Pay Off The Small Loans, But That's Not The Right Strategy. The Right Strategy, Of Course, Is To Pay The Loan With The Highest Interest Rate. People Make This Mistake And It Costs Them Lots And Lots Of Money, It's A Very Expensive Mistake Because Interest Rates Accumulate And Become Very, Very Expensive Very Quickly.

In Total, By Giving People $30 Bonus, Intel Lost Almost 5 Percent Of Productivity. That's A Lot. Now, Think About It. You Give Money Because You Think This Would Increase Motivation. It Actually Decreases Motivation.