--- title: "Book Review - Small Change: Money Mishaps and How to Avoid Them" description: "Book Review: Using humor and behavioral economics, this book explores the illogical world of personal finance to help individuals understand why they make terrible financial decisions and how to make better ones." image: https://blog.pricebeam.com/hubfs/Small%20change%20book.jpg --- [Skip to content](https://blog.pricebeam.com/book-review-small-change#main-content) [![PriceBeam](https://blog.pricebeam.com/hs-fs/hubfs/lead-flow-images/PBLogoTransparent%20(1).png?width=400&height=100&name=PBLogoTransparent%20(1).png)](https://www.pricebeam.com/) - Solutions ![RGM360](https://blog.pricebeam.com/hs-fs/hubfs/RGM360_Headlines.png?width=319&height=255&name=RGM360_Headlines.png)[PriceBeam RGM360](https://www.pricebeam.com/rgm360) is an end-to-end Revenue Optimization Platform, offering unmatched value by integrating market research, internal data with AI and next-generation simulation and optimization tools. 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[Newsletter](https://www.pricebeam.com/newsletter) - [RGM Pulse Survey 2026](https://www.pricebeam.com/rgm-pulse-survey-2026) - About - [Company](https://www.pricebeam.com/about) - [News & Events](https://www.pricebeam.com/news) - [Partners](https://www.pricebeam.com/partners) - [Press](https://www.pricebeam.com/press) - [Careers](https://www.pricebeam.com/careers) - [Contact](https://www.pricebeam.com/contact) ![Search icon](https://5018647.fs1.hubspotusercontent-na1.net/hubfs/5018647/Design/Icons/Font%20Awesome/search.svg) [All posts](https://blog.pricebeam.com/all) March 6, 2024 # Book Review - Small Change: Money Mishaps and How to Avoid Them ![Picture of PriceBeam](https://blog.pricebeam.com/hs-fs/hubfs/Images/PBLogoBadge240x240.png?width=50&name=PBLogoBadge240x240.png)   PriceBeam  ·  3 minute read **The Ultimate List of Great Books on Pricing**    **Individual Book Review**  ![Small change book](https://blog.pricebeam.com/hs-fs/hubfs/Small%20change%20book.jpg?width=239&height=365&name=Small%20change%20book.jpg)   Small Change: Money Mishaps and How to Avoid Them Book Authors: Daniel Ariely and Jeff Kreisler. *Small Change is an exploration of the "whys" underlying our spending patterns and offers guidance on rerouting them to align with our actual financial objectives.* Imagine that you are about to find out the truth about those strange financial choices you've made, wondering "Why did I buy that?" or "Where did my paycheck go?". This book is like an enlightening chat over coffee with two friends who just happen to be experts on the quirks of human behavior around money. The authors get past the mental blocks that keep us from being successful in our financial lives by using real-life examples, funny stories, and clear explanations. This book isn't just another financial advice manual; it's a journey into understanding the 'whys' behind our spending habits and how to steer them towards our true financial goals. The duo's approach is refreshingly honest and empathetic, they don't just tell you what to do; they explore the common financial pitfalls everyone faces, making you feel understood rather than judged.  **Key ideas and topics discussed in 'Small Change' include:** The chapters are filled with actionable advice, but it's the stories and studies that make the concepts stick. Whether it's explaining why we splurge on things we don't need or fail to save for retirement, Ariely and Kreisler manage to turn the science of behavioral economics into practical, everyday wisdom. - **The Pain of Paying:** The book explores why spending money can sometimes feel physically painful, highlighting how this emotional response can influence our spending behaviors and decision-making processes. Understanding this pain can help in devising strategies to mitigate impulsive spending and encourage more thoughtful financial decisions. - **The Cost of DIY:** When individuals choose to manage their own investments or real estate transactions to save on fees, they often overlook the hidden costs associated with these decisions. These can include not only potential financial losses due to lack of expertise but also the significant time and emotional investment required. Ariely and Kreisler highlight the importance of considering these often-ignored factors when deciding to take on such financial responsibilities. - **The Influence of Past Decisions:** The authors discuss how previous spending decisions, particularly instances of overpayment, can irrationally influence our future spending. This insight into our behavioral patterns reveals a tendency to justify continued overinvestment in a service or product as a way to validate past decisions, leading to a cycle of financial misjudgment. Recognizing this pattern is crucial for breaking free from it and making more objective future spending choices. - **Unconscious Motivations:** Their exploration into the subconscious fears and desires that influence our financial decisions unveils the complex web of motivations driving us. By bringing these hidden forces to light, they offer readers a chance to confront and understand the irrational logic guiding their financial behaviors. In conclusion, *Small Change* provides a comprehensive guide to understanding and improving our relationship with money, it masterfully uncovers the complex connection of irrational behaviors and psychological bases that sabotage our financial well-being. Merging humor with the serious science of behavioral economics, it not only illuminates the often illogical world of personal finance but also equips readers with the practical tools needed to make better financial decisions. Through its insightful analysis and actionable advice, this book stands as an essential resource for anyone looking to navigate the complex financial landscape with greater awareness, efficiency, and ultimately, success. **Happy Reading!** Price Beam. 📖Buy from [Amazon](https://www.amazon.co.uk/Small-Change-Money-Mishaps-Avoid/dp/1509864644) **ABOUT THE AUTHORS:** **![Dan Ariely](https://blog.pricebeam.com/hs-fs/hubfs/Dan%20Ariely.jpg?width=140&height=140&name=Dan%20Ariely.jpg)** Dan Ariely: A distinguished professor at Duke University, has made significant strides in behavioral economics, authoring bestsellers like "Predictably Irrational". Besides education, he influences businesses and media, notably inspiring the NBC series "The Irrational", as well as participating in theory-to-practice projects. His work has always aimed to make the insights of science accessible and applicable to the real world, a mission that shines through every page of "Small Change."   **![Jeff K](https://blog.pricebeam.com/hs-fs/hubfs/Jeff%20K.jpg?width=140&height=140&name=Jeff%20K.jpg)**  **Jeff Kreisler:** His role in this book brings an element of humor and lightness to the serious subject of behavioral economics. As a Princeton-educated lawyer turned comedian and author, Kreisler also leads PeopleScience.com as Editor-in-Chief, a platform dedicated to applying behavioral science in business. Kreisler's engaging storytelling and comedic timing make the science of our financial choices accessible, showing that a good laugh can be just as valuable as a good investment. Together, Ariely and Kreisler are the perfect duo to guide us through the complex web of our financial habits, demonstrating that the first step in preventing financial mistakes is realizing what led to them.   ![Card image icon](https://5018647.fs1.hubspotusercontent-na1.net/hubfs/5018647/raw_assets/public/themes/generator/images/icons/calendar-check.svg) ### Take the guesswork out of your pricing. Try PriceBeam for free and see how we can help your brand. ---   Share: [facebook-f icon](http://www.facebook.com/share.php?u=https://blog.pricebeam.com/book-review-small-change) [linkedin-in icon](http://www.linkedin.com/shareArticle?mini=true&url=https://blog.pricebeam.com/book-review-small-change) [twitter icon](https://twitter.com/intent/tweet?url=https://blog.pricebeam.com/book-review-small-change) [pinterest-p icon](http://pinterest.com/pin/create/link/?url=https://blog.pricebeam.com/book-review-small-change) [envelope icon](mailto:?body=https://blog.pricebeam.com/book-review-small-change) ## Related posts [![Book Review: The Extinction of the Price Tag](https://blog.pricebeam.com/hubfs/The%20Extinction%20of%20the%20Price%20Tag.jpg)](https://blog.pricebeam.com/the-extinction-of-the-price-tag-how-dynamic-pricing-can-save-you) [dynamic pricing](https://blog.pricebeam.com/topic/dynamic-pricing) #### [Book Review: The Extinction of the Price Tag - How Dynamic Pricing Can Save You](https://blog.pricebeam.com/the-extinction-of-the-price-tag-how-dynamic-pricing-can-save-you) [![](https://blog.pricebeam.com/hubfs/Untitled%20Design%20copy%20copy%20copy%20copy%20copy%20copy%20copy%20copy%20copy-3.png)](https://blog.pricebeam.com/book-review-the-roi-of-pricing) [pricing books](https://blog.pricebeam.com/topic/pricing-books) #### [Book Review - The ROI of Pricing: Measuring the Impact and Making the Business Case](https://blog.pricebeam.com/book-review-the-roi-of-pricing) [![](https://blog.pricebeam.com/hubfs/Untitled%20Design%20copy%20copy%20copy%20copy%20copy%20copy%20copy%20copy%20copy%20copy.png)](https://blog.pricebeam.com/book-review-the-art-of-pricing) [pricing books](https://blog.pricebeam.com/topic/pricing-books) #### [Book Review - The Art of Pricing](https://blog.pricebeam.com/book-review-the-art-of-pricing) **Pricing Right, Made Easy** Almost all companies struggle to price right. 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