When I think of the Fashion Industry, wisdom is not what first comes to mind. I think of beauty, trends, and heels so high you can’t walk in them. From a more behavioral aspect, I think of how the industry can play havoc with one’s self-esteem, and our pocket books. However, I came across an… Continue reading Words of Wisdom from the Fashion Industry
Category: Money Behaviors
My Father In-Law is the Richest Man I Know
My Father was equally as rich. What do they have in common you might ask? They are/were content to live within their means, on their own terms, happily. I found the NY Times Article: Definition of Riches Changes with Income interesting. It got me thinking because I bet some people will read this and decide… Continue reading My Father In-Law is the Richest Man I Know
Re-Frame your Money Behavior for Success
I decided to start running after years of hiking and working out in a gym. And let’s be clear – I hate running. But there comes a time in life when you need to be able to exercise wherever you are to wear off those calories. I worked my way up to 5 minutes, then… Continue reading Re-Frame your Money Behavior for Success
How Brands Help with Decisions
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 How Brands Help with Decisions
How Mental Shortcuts Make Decisions
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 How Mental Shortcuts Make Decisions
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
More Money May Not be the Answer
I started equestrian lessons about 3 years ago because I love horses and had dreamed of doing this most of my life. Aside from landing in the dust a couple of times, and being stuck on a stubborn horse facing into the corner of the barn, I also learned about some more bad money behaviors.… Continue reading More Money May Not be the Answer
How to Manage Your Money Buckets & Behaviors
In our last blog we talked about mental accounting – how we separate our money into buckets in our minds. If we were all completely rational about it, generally speaking we would look at what we earn on our savings, what we pay on our debt, how our taxes are affected, and pay off our… Continue reading How to Manage Your Money Buckets & Behaviors
Saving Money & The Marshmallow Test – Would You Pass?
Dr. Walter Mischel, PhD, conducted a test with 4-year old children in the 1960’s. The children were offered a marshmallow sitting in front of them. If they waited and didn’t eat it, they would receive two marshmallows instead. It’s a fun exercise all about self-control – regulating emotions and behaviors. Dr. Mischel is still following… Continue reading Saving Money & The Marshmallow Test – Would You Pass?
Are You Spending, and Eating, on Automatic Pilot?
We all use the feeling or intuitive side of our brain more often than the thinking side of our brain. We get breakfast, ship the kids off to school, drive to work, fetch coffee, say good morning…all largely on auto-pilot. Mindless Eating If you think about it, we also eat that way. Brian Wansink, PhD… Continue reading Are You Spending, and Eating, on Automatic Pilot?