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Ecology of Money

Use Behavioral Finance to Curtail Spending

Eight ways we can reprogram ourselves to side-step our worst consumer impulses.

There's nothing more vexing to those trying to save money than an inability to control spending. It's like trying to drive a car without a speedometer.

The traditional advice in the world of personal finance has been to craft a budget and stick to it. Although that may work for the most disciplined savers, the vast majority of us have more unbridled consumer desires than self-control. Fortunately, the growing field of behavioral economics offers some useful tools to deal with this problem.