When you read the words: tightwad and spendthrift, it’s likely that you find yourself drawn to one over the other. Maybe you’ve always been on the cheaper end of the spectrum and you see it as being a responsible adult. Or maybe you’re more like a lot of Americans and you find it impossible to pass up a good sale- even if you don’t necessarily need that item you just want to have some fun! Or perhaps you’re what our guest today calls an ‘unconflicted consumer’. Either way, the good news is that you’re not locked into this archetype forever. You can modify your behavior which can be incredibly beneficial, not only for your personal financial goals, but also to your relationship with your spouse or significant other. To talk about that and more today, is Scott Rick. Scott holds a PhD in Behavioral Decision Research from Carnegie Mellon. He’s known for his work on consumer financial decision-making where Scott focuses on the emotional aspects that influence spending behaviors and his latest book is Tightwads and Spendthrifts: Navigating the Money Minefield in Real Relationships. Today we discuss how retail therapy actually works, why financial opposites tend to attract, the best ways for couples to combine their money, “spending roles” for tightwads and spendthrifts, and much more!

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Tightwads vs Spendthrifts w/ Scott Rick #803

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