If you get people to feel that they are putting something, that they are creating it and so on, their love for the project would increase. The more something is yours, the more you're willing to invest in it.

Money is very difficult to think about. So, we think about money as the opportunity cost of money. So, we at some point went to a Toyota dealership and we asked people, what will you not be able to do in the future if you bought this Toyota? Now, you would expect people to have an answer. But people were kind of shocked by the question. They never thought about it before. So, the most we got was people said, "Well, if I can't buy this Toyota, if I buy this Toyota, I can't buy a Honda." What is this thing? What is this value of price? Very hard to think about it.

I don't want to say that the poor are inherently cognitively diminished, but at the end of the day of making difficult, tough decisions, it's very hard to have the energy to think about things with the right mindset.

Imagine you owe on five credit cards, you owe five debts. So which debt should you pay first? And the answer is very simple: You should pay the one with the highest interest rate first. But that's not what people do.

One of the big lessons from behavioral economics is that we make decisions as a function of the environment that we're in.

that when given the opportunity, many honest people will cheat.

Not all debt is bad. From time to time we should get into debt when there's a good reason for that.