Showing posts with label The Psychology of Money. Show all posts
Showing posts with label The Psychology of Money. Show all posts
Thursday, May 01, 2025
Saturday, March 12, 2022
Other People's Budgets
"Harvard psychologist Max Bazerman once showed that when analyzing other people's home renovation plans, most people estimate the project will run between 25% to 50% over budget. But when it comes to their own projects, people estimate that renovations will be completed on time and on budget. Oh the eventual disappointment." - Morgan Housel The Psychology of Money
How very true of almost all budget projections. Especially government ones!
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