Salary isn’t just ‘my money.’ It’s money that should be spent considering yourself today, your future self in 10 years, and your future self in 20 years—that is, your future self together. Therefore, my current income is always, in a way, public money. We need to get approval from our future self before spending now. A bright future is only guaranteed if the future self agrees to the spending. It’s inconvenient to spend other people’s money on your own terms, and thinking of your own money the same way you see others’ cherished money will help you develop good habits for the future. I don’t have an exclusive claim to my own money, as if there’s no such thing as my own air in this world. - Joseph’s “just my thoughts”
The IKEA Effect is a type of the Ownership Effect . People tend to become more attached to owning an item than borrowing it. Additionally, putting effort into their possessions enhances this attachment. However, if the effort is too much, it can have the opposite effect. IKEA intentionally does not sell furniture as finished products. Instead, it uses a sales method that encourages customers to assemble their furniture, which increases their satisfaction with the final piece. Furniture is not just a temporary consumer product but an experiential item that is visible and used regularly over time. When owners value their furniture, they see it as a vital part of their lives and a reflection of their family relationships, rather than simply a product that meets their needs. Customers who experience this tend to desire more than just furniture; they seek a symbol that fosters family bonds. However, this sales approach may not be suitable for all types of products. - Joseph’s “just my thou...