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.

Once we start thinking of ourselves as polluted, there is not much incentive to behave well, and the trip down the slippery slope is likely.

When we save, everybody in the household is just suffering. By having the coin in a visible way, when you scratch, you can say the person that is in charge of the making money for the family is doing the right thing.

Money is a wonderful invention. It lets us save, it lets us specialize, right? I couldn't be a professor if there wasn't any money. Every day I would have to raise chicken and bread and broccoli and go ahead and spend all my time trading. So, money is a wonderful mechanism.

When parents have college savings accounts for their kids, their kids show higher social and cognitive performance.

People are willing to work free, and they are willing to work for a reasonable wage; but offer them just a small payment and they will walk away.

When you're in pain, tomorrow doesn't exist - just the pain - and the only thing that you want in the world is for it to go away.