Unmasking Financial Biases: How They Shape Your Money Decisions
For a financial planner to be equipped, who would have thought we'd ever be in the business of encouraging our clients to spend their money, to use their money?
Ever thought about how your personal biases might be affecting your financial decisions? In this episode of 'Financial Sobriety', hosts Jim Gebhardt and Matthew Grishman dive into the world of financial biases, revealing how they can subtly steer your saving, spending, and investing habits. Drawing from their extensive experience as financial planners, Jim and Matthew break down common biases like confirmation bias and self-control bias.
They don't just stop at identifying these biases—they also explore the cognitive and emotional errors that fuel them. Matthew, on his journey to becoming a Certified Financial Planner, shares eye-opening insights into how these biases can sneak into our financial lives, often without us even realizing it. The duo emphasizes the importance of self-awareness and self-control in overcoming these biases.
They highlight the role of a Certified Financial Planner in helping clients recognize and navigate these pitfalls, ensuring their financial decisions align with their personal values. With their engaging and supportive approach, Jim and Matthew offer a fresh perspective on the intricate dance between money, people, and self. This episode is a must-listen for anyone looking to understand the hidden forces shaping their financial choices.