I love this advice by economist Justin Wolfers on the Freakonomics blog about why it helps to be an economist when you’re making decisions:
By sticking to economics, I make time for running. Rather than spend hundreds of dollars worth of time cleaning my house each Sunday, I hire a cleaner who does a better job at a better price. When a friend asks me to help them move, I write them a check to pay professional movers instead. It’s just more efficient. And while it can be hard to forgo extra income for a long run, it is even harder to justify wasting that time on Facebook. And with the time that saves, I’m pulling on my shoes to head out for another run.
This is something I’ve been thinking about quite a bit lately, especially in relation to health: How does awareness of economics change your behavior? Personally I’ve been pretty focused on how people tend to be irrational about their health decisions and so every time I need to make my own health decision I question whether I’m making that same mistake. Obviously I have no long term data, but I seem to be flossing more as a result.