Mental accounting at the airport

Examples of mental accounting don’t get better than this:

“Me at the airport at 6am after eating my $30 meal, drinking my $12 water, and spending $80 on an Uber…all because I booked a 6am flight to save $50”.

What is mental accounting? Our tendency to weight money differently according to where it’s come from and where it’s going.

The $50 he saved was a win for the “paying for my flight” mental account.

But the money spent getting to the airport and feeding himself? Completely different mental account! 

Sometimes, when dealing with customers, it’s not that they don’t have the money to buy from you, it’s that they’re using the wrong mental account. 

👉 Your opportunity is to change that.

Find out more about the hidden biases and heuristics that impact decision making in my self-guided course, Influencing Action.