In a wonderful book called The Handbook of Self Regulation, 3rd ed. there is a chapter by Vinoo, Ly, and Soman called ‘The Role of Self Regulation in Financial Well-Being’. It describes the difficulty of deferring gratification, and why we fall prey to the temptation of spending now and regretting later. There’s a powerful analogy to the trust issues that Chloé Daniels describes, in which the temptation is to believe the lies our lovers tell us now, because it feels good in the moment… but of course we later come to regret that we suspended our skepticism.

What this suggests to me is that people unable to self regulate in their financial lives will not be helped by advice that suggests they use financial analogies to managing trust in their personal relationships.

    Thomas P Seager, PhD

    Written by

    TPSeager@StoryGarden.co Self-Actual Engineering https://www.youtube.com/c/ThomasSeager @seagertp Join https://www.linkedin.com/groups/13613731

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