Why We Make Bad Money Decisions (and How to Stop)

Описание: Why does losing money hurt 2x more than gaining it feels good? We break down the science of why your brain is wired to make bad money moves.

In this episode, James Bashall explores Behavioral Finance—the study of how psychology impacts your wallet. We explain why humans fall for the "Sunk Cost Fallacy" , why 80% of people think they are "above average" investors (Overconfidence Bias) , and why "Status Quo Bias" might be costing you years of compounding growth. Learn how to build a "decision firewall" to protect your wealth from your own emotions.

Need a "Financial GPS" to help navigate your biases? Visit nerdwalletwealthpartners.com to see how NerdWallet Wealth Partners can keep you on track.

Chapters
00:00 – Intro
00:40 – What Is Behavioral Finance?
01:09 – Common Money Biases
02:51 – How to Outsmart Your Biases
03:50 – The Cost of Doing Nothing

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#BehavioralFinance #PsychologyofMoney #InvestingMindset

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