Hyperbolic discounting and why it's so hard to save for the future | Money School w/ Preet Banerjee скачать в хорошем качестве

Hyperbolic discounting and why it's so hard to save for the future | Money School w/ Preet Banerjee

What is hyperbolic discounting and why does that make it harder to save money for the future? Hyperbolic discounting helps explain why we might make different choices based on time. For example, when thinking about the future, we might think we are very likely to go to the gym. When that future arrives, we might find it easy to not go to the gym. Hyperbolic discounting helps explain how the psychological weight or value of different considerations change based on how close (or far away) those things are from the present. It's kind of like the gravitational time dilation that was central to the movie Interstellar. The closer we are to the present, the more it warps our choices. This can affect a lot of choices in life, not just money choices. Resources mentioned in this video: Keith Chen's TED-ED talk:    • Could your language affect your ability to...   Keith Chen's research paper on The Effect of Language on Economic Behavior: https://www.anderson.ucla.edu/faculty... SUBSCRIBE FOR MORE VIDEOS LIKE THIS: http://www.youtube.com/user/preet182?... MY BOOK TO LEARN ABOUT THE BASICS OF PERSONAL FINANCE: https://www.amazon.ca/gp/product/0143... FOLLOW ME ON TWITTER   / preetbanerjee   WEBSITE: http://www.preetbanerjee.com Money School Personal Finance Learn About Money Learn To Invest #money #stockmarket #finance #howtoinvest #budgeting #budget #savemoney #insurance #financialplanning financial literacy hyperbolic discounting financial education investing how to make money in 2020 how to invest in your 20s