The Upside of Being Taken For A Sucker & Why Projects Are Often Late and Over-Budget

Something You Should Know

Mike Carruthers | OmniCastMedia

Science, Social Sciences, Self-improvement, Education, Health & Fitness

4.6 • 4K Ratings

🗓️ 13 February 2023

⏱️ 49 minutes

🔗️ Recording | iTunes | RSS

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Summary

We start this episode with some interesting things worth knowing about your credit card including what your options are when the credit card company raises your interest rate. https://motuscc.com/credit-card-processing/9-interesting-credit-card-facts-and-stats/ No one likes to be scammed or taken for a fool. In fact we keep our antenna up so make sure that doesn’t happen. Maybe though, we are being too vigilant. By being so skeptical and wary of situations and opportunities, we may miss out on some very rewarding ones according to Tess Wilkinson-Ryan. She is a University of Pennsylvania law professor and psychologist and author of the book Fool Proof: How Fear of Playing the Sucker Shapes Our Selves and the Social Order--And What We Can Do About It (https://amzn.to/3jMqrfo). Listen as she explains how to put the fear of being taken for a sucker into perspective and feel a lot better for doing so. Can you name a big project that has ever been finished on time and under-budget? Think about any construction project at home or even any government project to build a road or a bridge. It seems it always takes longer and costs more than was projected. Why is that? Why can’t anyone seem to get it right? Well, actually some people can. That is what Bent Flyvbjerg is here to explain. Bent is a professor at Oxford and considered one of the leading experts on topic. He has consulted on over one hundred projects costing $1 billion or more and he is author of the book How Big Things Get Done: The Surprising Factors That Determine the Fate of Every Project, from Home Renovations to Space Exploration and Everything In Between (https://amzn.to/3YxwnHX). Why do kids who grow up in the same family, with the same parents and the same rules often turn out so differently? Listen as I explain one leading psychologist’s explanation that should come as good news to parents. Source: Dr. Wes Crenshaw author of the book Dear Dr. Wes: Real Life Advice for Parents of Teens (https://amzn.to/3RIO6dx). PLEASE SUPPORT OUR SPONSORS! Visit https://NJM.com/podcast for a quote to see how much you can save on your auto insurance! Dell Technologies’ Presidents Day event is here! The savings start now on select sleek XPS laptops and more powered by 12th Gen Intel® Core™ processors. Don't forget special pricing on the latest monitors, docks and accessories, plus free shipping on everything and monthly payment options with Dell Preferred Account. Just call 877-ASK-DELL for these limited-time Presidents Day deals! With With TurboTax, an expert will do your taxes from start to finish, ensuring your taxes are done right (guaranteed), so you can relax! Feels good to be done with your taxes, doesn’t it? Come to TurboTax and don’t do your taxes. Visit https://TurboTax.com to learn more. Intuit TurboTax. Did you know you could reduce the number of unwanted calls & emails with Online Privacy Protection from Discover? - And it's FREE! Just activate it in the Discover App. See terms & learn more at https://Discover.com/Online Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Monso Business Banking. It just works. So you can too. Join businesses like Target
0:05.7	to Wishing by opening a Monso Business account.
0:07.7	What I love about Monso Business account is how easy everything is. It can be filtered,
0:12.8	it can be tagged. We thought we'd have to manage our business around our banks, but that's
0:17.3	not the case with Monso.
0:18.4	My name is Shun. I am the Founder of Target Trition.
0:21.6	Apply in minutes at Monso.com slash business. To apply you must be a sole trader or director
0:26.6	of a limited company, UK Businesses Only, Terms and Conditions Apply.
0:31.0	Today on something you should know, if your credit card company raises your interest rate,
0:37.4	you don't have to pay it. Then no one wants to be a sucker or played for a fool, but
0:42.7	maybe we worry about that way too much.
0:45.9	Really what I'm trying to do here is to make the case for being a sucker sometimes.
0:49.8	And the reason I'm making that case is because I think that in a number of contexts in our
0:53.8	lives, the fear of being played for a fool is counterproductive to our own actual goals.
1:00.3	Also, why siblings raised in the same family often turn out so different. And it seems
1:06.0	like every big project always takes longer than predicted and is over budget. Does anyone
1:11.8	ever get it right?
1:13.3	Actually, we have the numbers. 8.5% of the projects are on time and on budget, so not even
1:18.0	one out of ten. But they do exist, you know, and that's the uplifting thing about this.
1:21.8	There actually are people that are able to do things on time and on budget.
1:26.1	All this today on something you should know.
1:29.6	Oh, there are a lot of things that feel really good, like biting into a freshly baked chocolate
	...

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