Money Box Live: Financial Resolutions
Jan 31, 2024•29 min
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Summary
The discussion delves into the psychological barriers to achieving financial goals, such as present bias and the allure of immediate gratification, with specific attention paid to challenges faced by neurodiverse individuals in budgeting and managing subscriptions. Experts provide practical tips on everything from cancelling unused services and updating wills to rebuilding emergency savings and consolidating pensions, emphasizing realistic planning, breaking tasks into smaller steps, and using behavioral science to make financial habits stick.Episode description
It can feel like new year, new you, with so much potential for change and improvement, but then reality can kick in.
Around 1 in 3 of us will have made a financial resolution this year, but according to Hargreaves Lansdown, almost 20% of us won't even make it to the end of this week.
So how do you make them stick? Felicity Hannah is joined by behavioural & data scientist Professor Pragya Agarwal, Laura Suter, Head of Personal Finance at AJ Bell and consumer rights expert Martyn James.
Presenter: Felicity Hannah Reporter: Andrew Strachan Producer: Sarah Rogers Editor: Jess Quayle
(This episode was first broadcast on Radio 4, Wednesday the 3rd of January 2024 at 3pm)
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