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Smart financial strategies are simple… but they’re not always easy! Humans do not always act in a predictable or rational manner, even when the smart behavior is easy to grasp. The problem is, many of our financial decisions stem from subtle behavioral influences, preying on our emotions and keeping us from making rational decisions. If you can recognize these mental patterns, you can hack your financial life and make your best money decisions yet!
This is a fun episode! We share a lot of hilarious personal stories, all tying back to some awesome financial concepts.
In this episode, you’ll learn:
- The important financial lesson learned from Disney World turkey legs
- What to do with a bad investment
- The biggest mistake people make with “gifted” or “found” money
- What Brian’s collectibles reveal about how we perceive value
- How to avoid falling prey to sleazy sales tactics
- Why having a “tight wad” mentality is both a blessing and curse
- and more!
Research and resources from this episode:
- Never Split the Difference by Chris Voss
- Misbehaving by Richard Thaler
- First survey of its kind for 50 years finds most Americans still think they have above average intelligence (The British Psychological Society)
- 5 Ways People Are Dumb With Money (Two Cents)
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