I’m the Problem: A Convo About Behavioral Finance
Episode description
We’re getting honest about how we can unknowingly sabotage our financial success. We’ll break down common behavioral traps like holding onto investments because we’ve already put money into them (hello, sunk cost fallacy), making decisions based on recent trends (that’s recency bias), and following the crowd just because everyone else is (herd mentality). When we can recognize these behaviors, we can stop being the problem and start making better choices with our money.
In today’s episode:
11:31 A super-easy way to track financial progress
16:42 Our money story and how we grew up shapes how we manage money
21:25 Recency bias affects investment decisions, cyclic trends
37:08 Sunk cost fallacy, herd mentality, and dollar-cost averaging
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