Even if you just buy company stock or mutual funds in your 401(k), you are still considered an investor, and this blog is for you. In our last blog, we talked about the “feeling” brain and the “thinking” brain. We run on our Feeling brain most of the day until we kick in our Thinking… Continue reading How Your Feeling Brain Buys the Wrong Investments –Part 2
Category: Money Behaviors
How Your Feeling Brain Blows Your Budget – Part 1
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
6 Questions to Slow 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 Slow a Shopaholic Part 5
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
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
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
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
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
Words of Wisdom from the Fashion Industry
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