Smart people make bad decisions all the time. That’s because intelligence (IQ) has no bearing on our ability to make rational, unbiased decisions. If you can be aware of your biases and investigate your intuitions then you will make better decisions which can have a profound effect on your finances. In this episode, David Robson, author of The Intelligence Trap, lays out the key biases stopping you from getting richer - and how to combat them.
You can find David's book here: http://bit.ly/3T04h8F
🤝 Want help from a financial advisor planning your future?
Get personal support: https://makingmoney.email/financial-advisors-audio
⛑️ Free guides & financial health check
Learn how to build long-term wealth in the UK: https://linktr.ee/makingmoneypod
📈 Investment platforms we use
Trading 212
Watch this video where Damo explains how to get the most from it: https://youtu.be/BVVZhrM0LVQ
Get a free share worth up to £100 when you sign up for a new Invest or ISA account and deposit at least £1.
Use the code ‘MM’ or this link: https://www.trading212.com/join/MM
InvestEngine
Get up to a £50 bonus when you invest at least £100.
https://investengine.pxf.io/daOD2Q
Vanguard
Minimum investment of £500 or £100/month
https://www.vanguardinvestor.co.uk/
🎉Sponsors
Vanta - Get your company secure and compliant, with $1k off: https://vanta.com/makingmoney
Tide - Get 3.81% AER variable on your business savings. Use this link https://www.tide.co/offer/makingmoneyq1 or the code 'MAKINGMONEYQ1'. You'll also get £100 if you fund your account with £5,000 in the first 30 days. Ts&Cs apply.
New members receive a 0.77% AER boost on the standard 3.04% until 01/06/25 after which the rate reverts to 3.04% with no interest on balances over £75,000. Rate correct as of 06/02/2025. Full terms: https://tide.co/terms/makingmoneyq1-tnc.
--
If you purchase a product or service using one of the links above, we may receive a commission. There will be no additional charge for you. Remember investments can fall and rise - and past performance is no guarantee of future results. Other fees may apply. Your money is at risk.
This is not financial advice. The reason it’s not financial advice is because it’s not tailored to you. We explain the principles of building wealth but if you want personalised advice, it’s worth speaking to a financial advisor. As with everything financial, please do your own research. We really encourage that because no one cares more about your money than you and if you learn the basics then it will change your life.
7 ways your brain is making you poorer - the invisible biases that hurt your financial decision-making | David Robson | Making Money podcast - Listen or read transcript on Metacast
