If people just put away what's left at the end of the month, that's a recipe for failure.

he card companies will often, as a courtesy, honor that credit card, but hit you with a penalty. And you keep swiping your card for $3 at Starbucks for your latté, and you're getting hit with a $25 penalty because it's over your credit limit.

It would be much more consumer friendly for them to beep you when you swipe your card that says, uh-oh you're over your limit, are you sure you want to use that?

People exaggerate their own skills. they are optimistic about their prospects and overconfident about their guesses, including which managers to pick.

Recall that people like to do what most people think it is right to do; recall too that people like to do what most people actually do.

The same with the mortgage brokers that were selling people mortgages they couldn't afford. We shouldn't pay them on each mortgage they write. They should have what they call "skin in the game," where they've got to reimburse us if the guy who sold the mortgage defaults.

My mantra is if you want to help people accomplish some goal, make it easy.