Why it matters
A purchase made today serves a future situation. Thinking about that situation can reveal a mismatch between present feelings and later needs.
A worked example
Shopping while hungry, you buy meals assuming you will want the same amount later, even when you are full.
Illustrative example · simplified assumptionsA common mistake
Assuming your present appetite is a reliable forecast of next week.
Where the idea needs care
Preferences can change. Pause and consider the circumstances in which you will actually use a purchase.
Apply the idea
Explain this concept using a different example from your spending, work, business or a policy debate. State what stays fixed and what could change the result.
See the supporting infographic
The written explanation above is the main lesson. This image offers another way to remember it.
Sources and further study
Examples and explanations by Alibomics. Numeric illustrations are not current market quotations.