Life / Wealth / Behavior
The relationship between money, attention, independence and the life those resources support.
Anchoring
Anchoring is the tendency for an initial number or reference point to exert undue influence on a later judgment.
Bandwagon Effect
The bandwagon effect is an increased tendency to choose something because other people are choosing it.
Brinkmanship
Brinkmanship is seeking concessions by increasing the risk of a mutually damaging outcome rather than backing down.
Burnout
Burnout is a work-related phenomenon associated with unmanaged chronic workplace stress, involving exhaustion, detachment or cynicism toward work, and reduced professional effectiveness.
Busywork
Busywork is work that keeps people occupied while producing little or no useful result.
Buyer's Remorse
Buyer's remorse is regret or unease after making a purchase.
Collective Action Problem
A collective action problem occurs when individual incentives or coordination barriers prevent a group from achieving a shared benefit.
Commitment Device
A commitment device is a voluntarily chosen arrangement that makes it harder or more costly to abandon a future goal.
Conflict of Interest
A conflict of interest exists when a person’s own interests could interfere with a duty or responsibility owed to someone else.
Credible Threat
A credible threat is a threatened response that the other party has good reason to believe will actually be carried out.
Decoy Effect
The decoy effect is a shift toward one option after a third option is introduced that is inferior to it but not to its competitor.
Diderot Effect
The Diderot effect describes how a new possession can make existing belongings feel mismatched and trigger further purchases.
Doom Spending
Doom spending is an informal term for spending associated with pessimism or distress about the future, often described as seeking immediate relief or enjoyment.
Double Standard
A double standard is applying different rules to comparable people or situations without a relevant justification.
Emotional Labor
Emotional labor is managing feelings and their outward display to meet the emotional requirements of paid work.
Endowment Effect
The endowment effect is a tendency to value an item more highly because you own it than you would if you did not.
Financial Independence
In personal finance, financial independence means having sufficient resources or non-work income to support living costs without needing ongoing paid employment.
FIRE
FIRE stands for Financial Independence, Retire Early: an approach that aims to build enough resources to make paid work optional earlier than conventional retirement.
Free-Rider Problem
The free-rider problem arises when access to a shared benefit without contributing to its provision weakens incentives to provide it.
Generational Wealth
Generational wealth is financial resources passed between generations, including assets and support that can shape a person's choices during their working life.
Ghost Job
A ghost job is an advertised vacancy that an employer does not currently intend to fill.
Glass Ceiling
A glass ceiling is an unofficial or unacknowledged barrier that prevents qualified members of some groups from reaching higher positions.
Golden Handcuffs
Golden handcuffs are valuable pay, benefits or future rewards that make leaving a job or organization financially difficult.
Hedonic Adaptation
Hedonic adaptation is the tendency for the emotional impact of changed circumstances to diminish as people become used to them.