With everything you do, in fact, you should train yourself to question your repeated behaviors.

What people do is they pay the small loans first. Why? Because they enjoy making the number of loans smaller. But of course it is a very ineffective way to pay debt down.

Money is all about opportunity cost. Every time you spend on something, that's something you can't spend on something else.

Motivation, basically getting people to be happy at work, everybody - everybody benefits.

The experiments show quite clearly that, as you resist more and more temptation, you're actually more and more likely to fail.

Money actually becomes even more difficult than other things because it's very hard to imagine what the benefits are to saving. So, imagine that you see a new bicycle, a new pair of shoes, or something today. You know exactly what you are giving up if you are not buying it, what are you gaining in the future if you are not getting it. So, you are giving up the bicycle today, what is it in the future? What will happen if you send another $1,000 to your retirement fund? What difference will it make? It is very, very hard to figure out.

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.