7 months The large implications of small financial decisions Manilatimes |Biz
RICKY PUBLICOYou may not know it yet, but small decisions can actually cost you big. Economist Alfred Khan said so himself in his 1966 essay The Tyranny of Small Decisions. Khan wrote how well-meaning humans can make a series of small, inconsequential decisions that can lead to unintended and unwanted implications—whether it’s beneficial or harmful. For example, spending at least P120 a day on milk tea may not be a big deal to you, but if you compute your spending in a year, you’ll discover that you already spent P43,800. Imagine having that amount of money and choosing to ... more