Building wealth starts with out-thinking your emotions — here are 5 mental traps standing in your way

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Building wealth starts with out-thinking your emotions — here are 5 mental traps standing in your way
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Saving money is notoriously harder than it seems

"Dollars and Sense," by behavioral economist Dan Ariely and Jeff Kreisler explains that people tend to approach money irrationally. But to build wealth, we have to out-think our emotions. To do it, we have to be aware of psychological pitfalls like "opportunity costs" and the"endowment effect." . Things pop up — car repairs, wedding gifts, invitations to concerts — and suddenly our good intentions go straight out the window.

"Dollars and Sense," by behavioral economist Dan Ariely and Jeff Kreisler explains that people tend to approach money irrationally. But to build wealth, we have to out-think our emotions. To do it, we have to be aware of psychological pitfalls like "opportunity costs" and the"endowment effect." . Things pop up — car repairs, wedding gifts, invitations to concerts — and suddenly our good intentions go straight out the window.

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