We’ve all seen the commercials and the magazines depicting the Perfect Holiday. The perfect place settings and wonderful home surroundings ensure that smiling kids and grandparents are having the time of their life. Without the celebratory trappings, the Holiday just won’t be right. Or will it? Already we can see matching plates, glasses, napkins, table… Continue reading Living the Perfect Holiday Picture
Category: Money Psychology
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
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 Mirror Neurons Can Part You and Your Money
Mirror Neurons are a scientific way of saying that when we see a beautiful model wearing a great outfit in Vogue magazine, we want to buy it because we project how beautiful we will look and feel wearing that outfit. Basically, we envision ourselves as a mirror image of the model. This method of marketing… Continue reading How Mirror Neurons Can Part You and Your Money
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
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
Since When is Saving Money Rational?
Budgeting seems so rational. You merely have to calculate how much you want to have at retirement, look at the number of working years, and save a certain amount per year. Voila! Financial brochures make it look so darned simple – you must be the only one not doing it. Unfortunately, life, and the human… Continue reading Since When is Saving Money Rational?
You Spend More on Accessories When Purchased with a Big Item
We are likely to spend more money for accessories when purchased with an expensive item like a new dress, sofa, or car than if we purchased them alone. Here’s why, and how you can save money by avoiding it. My husband and I bought a new living room sofa that was a fair amount of… Continue reading You Spend More on Accessories When Purchased with a Big Item
The New Definition of Need
If we think back a few centuries, the word Need had pretty specific connotations. People needed a cow for milk. Farmers needed a good growth season to survive. And kids needed a bath once a week. They didn’t need matching dishes, or anything beyond a dirt floor. Wow have we changed. As a society, we… Continue reading The New Definition of Need
Why You Avoid Money Decisions
Not deciding – is making a decision -to do nothing. Sometimes it is because we have way too many choices. According to Statista we have 8,970 mutual funds from which to choose. It can be overwhelming! Sometimes we fear we’ll regret the choice we made. This is called Regret Aversion and is a common human… Continue reading Why You Avoid Money Decisions