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Tag Archives | Money Psychology

Money Beliefs and Luxury Lifestyle TV

If you watch TV shows that flash luxury products and feature rags-to-riches stories or the lives of the rich and famous, will you become more materialistic and cold-hearted toward the poor? You might, according to an August 1 story by Sarah Knapton in The Telegraph.

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Frugality: The Essential Money Survival Skill

Someone recently asked me to share my number-one financial tip that would make the greatest impact on a person’s financial well-being. For someone who can speak for hours on the topic, that’s a daunting task. I wanted to quote the late Dick Wagner’s advice to “Spend less, save more, and don’t do anything stupid,” but […]

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Only Two Real Money Choices: Spend or Give

A colleague recently reminded me that there are ultimately two things we can do with money: spend it or give it away. That’s it. At first glance, this seems too simplistic. What about saving? What about investing for our future security? What about creating wealth?

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Money, Emotions, and the Nobel Prize in Economics

Human beings make most of our decisions—including financial ones—emotionally, not logically. Unfortunately, too much of the time, our emotions lead us into financial choices that aren’t good for our financial well-being. Yet many of the economic models and theories related to investing are based on assumptions that, when it comes to money, people act rationally […]

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Financial Health and Survival Instincts

My research in psychology, along with 35 years of experience working with people and their finances, suggests that how we handle money is more instinctual than cognitive. It’s more a factor of our brains’ hard-wiring than it is learned intelligence. Apparently, some people are just wired to do money well and others are not. This […]

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