Tag Archives | Financial Psychology

Doing Better Than We Think In South Dakota

South Dakotans have a long-established money script that “we are a poor state.” Everyone in the state knows it, and we’ve always had the facts to prove it. We’ve grown accustomed to being at the lower rungs of almost any financial measurement. I’m a third-generation South Dakotan. I’ve watched most of my classmates move out […]

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Capitalism, Weeds, and Brotherly Business Deals

What is capitalism? How does it work? For some time now I’ve been meaning to write a column on that topic, but it has seemed to be a daunting task more fit for an economist than a financial planner. Then I remembered this story from my childhood. One summer, we were visiting my grandparents. I […]

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Staying Calm at the Edge of the Fiscal Cliff

So the economic train is speeding faster and faster, and the edge of the fiscal cliff is getting closer and closer, and the passengers are starting to scream. Meanwhile, the guys in the cab of the engine are arguing about whether to hit the brakes or blow the whistle. What’s the best thing for an […]

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Free Money: Mental Accounting and Couples

Last week my husband and I hired a painter to put a fresh coat of paint on our hundred year old home. True to form, my husband negotiated a good deal and got the contractor down $600. When he told me he saved this amount of money, he immediately started to brainstorm about how we […]

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Financial Therapy Finding its Voice as a New Profession

The driver of the van that was to take me from the University of Missouri to the St. Louis airport asked where I was from. When I said, “Rapid City,” we struck up a conversation about his childhood trip to the Sturgis Rally. At one point he asked me, “What were you doing visiting MU?” […]

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