Megan McCoy
ON THE RECORD · 6 verbatim quotes · every quote source-verified
“because that's what grandpa bought,”
Megan McCoy · said date not stated · reported 2026-08-25
McCoy describes how people may cling to inherited stock due to sentimental attachment to the relative who purchased it.
“Mental accounting can be a good thing, too,”
Megan McCoy · said date not stated · reported 2026-08-25
McCoy suggests that mental accounting can be used productively by earmarking accounts for specific financial goals.
“We don't treat that money the same.”
Megan McCoy · said date not stated · reported 2026-08-25
McCoy explains that people tend to treat windfall money differently from their regular funds.
“We hope people use their income tax refunds for their financial future. It often ends up being spent on TVs,”
Megan McCoy · said date not stated · reported 2026-08-25
McCody notes that tax refunds are often spent on consumer goods rather than put toward financial goals.
“Windfalls can mess with our mental accounting,”
Megan McCoy · said date not stated · reported 2026-08-25
McCoy warns that unexpected money can disrupt how people categorize and use their finances.
“We know, psychologically speaking, that we tend to treat it differently,”
Megan McCoy · said date not stated · reported 2026-08-25
McCoy observes that people tend to treat found money differently from other funds.