My super unscientific conclusion, based on watching myself and how I act and comparing that to how other lawyers act, is that when lawyers are overworked and under slept, we make really stupid decisions about money.
We also make stupid decisions about money when (a) we’ve just been given a lot of it (e.g., during bonus season); or (b) we notice that we have a lot of money in our bank accounts. Your brain knows that you have money, and it reduces your discipline to not be dumb with it.
There are two enemies of savings: stress and feeling like you have cash to burn. Here’s how I fight them.