Jason Zweig does a great job of explaining the two sides of our brain in Your Money & Your Brain. We have the “thinking” or Reflective side; and we have the “feeling” or Reflexive side. Our Reflexive side is used more often daily – it is our automatic pilot, or intuition. The reflexive, feeling brain… Continue reading How Your Feeling Brain Blows Your Budget – Part 1
Author: Carrie Rattle
Carrie Rattle is a Principal at BehavioralCents.com, a website for women focused on mind and money behaviors. She has worked in the financial services industry for 20+ years and hopes to inspire women to better prepare themselves for financial independence.
Expecting Money is better than Receiving Money
Yes, believe it or not. Our brains get more excited about the money we expect to get – from a bonus, a lottery, a promotion – than when we actually receive it. How many times do you spend that expected reward in your head? A little goes here, a little goes there, some goes in… Continue reading Expecting Money is better than Receiving Money
6 Questions to Stop a Shopaholic Part 5
These tips are taken from “To Buy or Not to Buy: Why We Over Shop and How to Stop” by April Lane Benson, PhD (2008) as published in Adrian Furnham’s most recent book “The New Psychology of Money”. The trick to changing a behavior is to understand why you are doing it, notice when you… Continue reading 6 Questions to Stop a Shopaholic Part 5
The Shopaholic and The Fallout Part 4
This is Part 4 of Fighting the Shopaholic in You. Eventually, regardless of our reason for shopping ‘til we drop time and time again, we are forced to face the clean up. The emotional aftermath. The financial mess. Call it what you will. Here are some examples of situations that eventually catch up with a… Continue reading The Shopaholic and The Fallout Part 4
Obvious signs of shopaholism
In Parts 1 & 2 we covered some obvious signs of shopaholism, as well as some of the basic reasons. In this blog we dive a bit deeper into the key drivers of the behavior. Find out if one of the triggers outlined below is driving you to shop ‘til you drop! Triggers are an… Continue reading Obvious signs of shopaholism
The Shopaholic – Do You Shop for Need or Desire? Part 2
In Part 1 of this blog series, we identified some key warning signs for Shopaholism. Now we examine the different emotions that drive compulsive buying, as well as the biology and genetics that may drive us to the extreme. Impulse disorders such as gambling, alcoholism, and binge eating have a genetic component. Compulsive buying is… Continue reading The Shopaholic – Do You Shop for Need or Desire? Part 2
The Shopaholic – Are You One? Part 1
It seems like there is tremendous wealth all over the world doesn’t there? We are hit with TV shows highlighting millionaires and all their toys; rich “Housewives” of whatever major city, and HGTV with their international home buyers. These shows become the standard – it seems everyone has wealth and toys everywhere so why shouldn’t… Continue reading The Shopaholic – Are You One? Part 1
Your Rational Decisions – Aren’t. Part 3
I’ve been talking about the shortcuts your brain makes when coming to a decision. It carries on a conversation with itself reviewing all the memories, facts and emotions possibly related to the item in front of you. Here is how branding will get you to spend money based on these Somatic Markers. Being a good… Continue reading Your Rational Decisions – Aren’t. Part 3
Your Rational Decisions – Aren’t. Part 2
The typical every day purchase decision is made in seconds. As we stare at a shelf, we may think we’re sizing up ingredients and price, but our mind is doing so much more. It’s having a conversation with itself about a lifetime of facts, emotions and memories you have collected that pertain to the item… Continue reading Your Rational Decisions – Aren’t. Part 2
Your Rational Decisions – Aren’t. Part 1
When I was transferred from Canada to the U.S., I loved exploring my new neighborhood and settling in. Until it came to shopping for food. One would think that because the two countries are neighbors and we eat, consume and dress so similarly, that it would be an easy transition. Well, it was definitely easier… Continue reading Your Rational Decisions – Aren’t. Part 1