In this podcast episode, the focus is on the psychology behind our spending habits, featuring insights from Dr. Scott Rick and his Tightwad-Spendthrift Scale. This scale highlights the "pain of paying," showcasing the stark differences in brain activity and behavior between tightwads—who feel significant distress when spending—and spendthrifts—who don’t. The discussion delves into the origins of these traits, their connections to personality and romantic relationships, and how they influence gift-giving and holiday shopping. Additionally, the episode reveals the surprising benefits of "retail therapy" for alleviating sadness and offers practical tips for couples with contrasting spending styles.
