11 Ways To Fatten Your Wallet With A Little Psychology

I never could have imagined how important managing emotion, cognitive biases and behavioral hurdles is to saving enough, spending wisely and managing financial risks. For about a year, I informally coached a woman (we’ll call her “Leigh”) in her late twenties who wanted to eliminate the $5,000 of expensive credit card debt she was rolling over each month, … Read more

The Surprising Power of Honest Ignorance

Decision-making is hard because there is a fundamental and unavoidable ignorance about the future. We are especially uncomfortable about outcomes produced by processes that we don’t understand well. We’re much more comfortable with risks that we can quantify, model and forecast. This is called “ambiguity aversion“. We are so uncomfortable with the former (uncertainties) that … Read more