The Psychology of Spending Money | Mind Over Money Episode 1 | ENDEVR Documentary
Watch Episode 2 here: https://youtu.be/0bYZgzZbYAU
In this first episode Nigel dives right into the deep end as he tries to understand why humans get so
weird with money? Why is it so weird to talk about? And why do we do things with money, which don’t
make any kind of rational sense at all? Along the way we’ll meet a caveman, uncover some of the
strangest things we do with money, and our ‘Nudge Unit’ will use a petrol tanker to try and help an
arch procrastinator get her mind over money.
Money has only been around for a few thousand years, so we haven’t yet evolved biologically to handle our money decisions. There is no cash register in the brain. When we encounter money, we file that information away in the bits of the brain that deals with food, drugs and sex. It all comes unstuck because we’re using stone-aged brains to try and make complex abstract decisions about money – we’re really just cavemen with credit cards.
The relatively new field of behavioural economics is the engine behind this show – it says that we’re not the perfectly rational homo economicus of the economic textbooks. Instead we are very human and make lots of decisions that are in fact irrational. But the good news is that our psychological ‘flaws’ are the same for everyone and so they actually become predictable – Mind Over Money will show the viewer how to use this information everyday in the real world.
In Mind Over Money Nigel sets out to show us all why we behave the way we do with money, and some simple tricks we can all employ to make better decisions about the money we’ve got. This edgy new series is a big, visual, fun, fast-paced television series that approaches these issues from left field –there’s a caveman, experiments to demonstrate irrational acts of revenge, weird dates, cupcakes, inventions, coffee carts, used cars, jelly beans, fish tanks, game shows, and Nigel’s undercover ‘Nudge Unit’… a crack team who set out to ‘nudge’ people in the right direction with their financial conundrums.
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ENDEVR explains the world we live in through high-class documentaries, special investigations, explainers videos and animations. We cover topics related to business, economics, geopolitics, social issues and everything in between that we think are interesting.