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mental accountingMoneywise
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71% Informative
NBA legend Shaquille O'Neal revealed how he depleted his bank account on luxury purchases because he wasn’t aware some of his earnings were earmarked for taxes.
In 1999 , Nobel Prize -winning behavioral economist Richard Thaler developed the concept of “mental accounting” which he described as “cognitive operations used by individuals and households to organize, evaluate, and keep track of financial activities.
Shaq diligently saved his paychecks and made savvy investments in diversified business ventures.
VR Score
65
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60
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10
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informal
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English
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42
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Attention-grabbing headline
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