The More Cashless Our Society

The Things That Motivate Us Are To Help Other People, To Feel That We're Useful, To Feel That We're Getting Better, To Feel That We Are Kind Of Living To Our Potential, To Get A Sense Of Meaning. All Of Those Things Are Positive.

Imagine You Have Six Loans, Small To Huge. People Want To Close Loans And Because Of That, They Try To Pay Off The Small Loans, But That's Not The Right Strategy. The Right Strategy, Of Course, Is To Pay The Loan With The Highest Interest Rate. People Make This Mistake And It Costs Them Lots And Lots Of Money, It's A Very Expensive Mistake Because Interest Rates Accumulate And Become Very, Very Expensive Very Quickly.

When It Comes To The Mental World, When We Design Things Like Health Care And Retirement And Stock Markets, We Somehow Forget The Idea That We Are Limited. I Think That If We Understood Our Cognitive Limitations In The Same Way That We Understand Our Physical Limitations … We Could Design A Better World.

Rainy Day Savings Are Incredibly Important, Because From Time To Time, Bad Things Happen. And If You're Not Prepared For That, It's Going To Be Really Terrible.

The People Who Need To Overcome Temptation To The Highest Degree Have The Hardest Time Doing It.