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Something You Should Know

Why We Are Wired to Do Everything Wrong With Money & The Meaning of Time

Something You Should Know

Mike Carruthers | OmniCastMedia

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

4.5 • 4.3K Ratings

🗓️ 18 January 2021

⏱️ 49 minutes

🧾️ Download transcript

Summary

Have you ever asked yourself, “Is it ever too late?” If you don’t set your social and professional course early in life, will you miss out? Parents often worry that if their kids don’t get on the right track early on, they will have trouble later on. This episode begins with some interesting and optimistic research on why this worry may be unfounded. Source: Susan Krauss Whitbourne author of “The Search for Fulfillment” (https://amzn.to/3bXWqTF) We all mistakes with our money - we can’t help it, we are wired that way. That’s according to research conducted by my first guest today - Brad Klontz. Brad is a financial psychologist, a certified financial planner, an associate professor at Creighton University's Heider College of Business in Nebraska and author of the book Money Mammoth: Unlocking the Secrets of Financial Psychology to Break from the Herd and Avoid Extinction (https://amzn.to/2LHWU5h). Listen as he discusses why people have such trouble with money, why we don’t save enough and how to get on a path that will make you feel good about your financial life. You’ll find his advice is pretty easy and painless. Where does all the lost and unclaimed luggage from airplanes go? Not only is this an interesting story, it turns out you can shop online and buy things left on airplanes and some of it is really amazing. https://www.unclaimedbaggage.com/ I find it so interesting that no one can really define time, yet we know intuitively what time is and we can measure it very precisely. It wasn’t always that way though. For most of history, it wasn’t really important to know EXACTLY what time it was - until the railroads came along. Listen to my discussion on the fascinating history of time with Joseph Mazur professor emeritus of mathematics at Marlboro College and author of the book, The Clock Mirage: Our Myth of Measured Time (https://amzn.to/3oJ8qvI). PLEASE SUPPORT OUR SPONSORS! You deserve to know what’s in your multivitamin. That’s why Ritual is offering my listeners 10% off during your first 3 months. Visit https://ritual.com/something to start your Ritual today. Right now, when you purchase a 3-month Babbel subscription, you’ll get an additional 3 months for FREE. That’s 6 months, for the price of 3! Just go to https://babbel.com and use promo code: SOMETHING https://www.geico.com Bundle your policies and save! It's Geico easy! M1 Is the finance Super App, where you can invest, borrow, save and spend all in one place! Visit https://m1finance.com/something to sign up and get $30 to invest! The Jordan Harbinger Show is one of our favorite podcasts! Listen at https://jordanharbinger.com/subscribe , Apple Podcasts, Spotify or wherever you enjoy podcasts. Tru Niagen helps us age better by supporting the energy-generating engines that exist in our bodies, helping us restore youthful energy. Go to https://truniagen.com and enter promo code: SOMETHING at checkout to save twenty dollars on your first three-month supply!  Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0

This is Lala Ken and this episode is sponsored by Raketin.

0:03.5

Want to live lavishly like Elizabeth Taylor, but you're more like ballin on a budget?

0:07.4

Enter Raketin. They're here to help you get the things you love,

0:10.7

whether that's fashion, beauty, electronics, or travel.

0:13.7

How? By helping you shop like a pro and save money with cash back.

0:18.0

Hit those fitness goals with equipment for your home studio,

0:20.7

pick up something chic for your next brunch with friends.

0:23.2

It's all possible with Raketin where you can get cash back at thousands of stores,

0:27.7

including urban outfitters, fenty beauty, and Nike.

0:31.3

They'll find you the best deals to make sure you get the most savings plus cash back on top.

0:36.4

Raketin is easy and free to join and they send you cash back by check or PayPal.

0:41.2

Get started at Raketin.com or get the Raketin app.

0:47.7

Today on something you should know, is it ever too late to take a different path in life or

0:53.6

career? Then most of us make a lot of mistakes with our money and it seems we can't help it.

0:59.8

When they do studies on lottery winners, what is so interesting about this is your neighbors,

1:04.0

if you win the lottery, are at higher risk of going bankrupt because you won the lottery.

1:09.1

It is actually human nature to do everything wrong when it comes to money.

1:13.6

Also, the interesting story of what happens to lost luggage and how you can buy what's in it.

1:19.8

And keeping track of time, we're very good at it now, but we didn't use to be.

1:24.8

If you had noon in Washington DC, you would think New York should be noon too, but no, it wasn't.

1:30.8

It was 12.12. You could work with that except for the railroads because nobody really knows

1:37.4

where the train is going to be at any particular time.

...

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