Have you ever wondered why people tend to make so many financial mistakes? We spend too much, save too little, and constantly serve as our own worst enemies. There is a reason for all of this, and a way that we can defeat it. Welcome to The Behavioral Finance Series where we will make you better with your decision making, your money, and even being a better doctor.
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Money can be tough. But htere are ways to make sure you are winning at personal finance. Here are your first five steps on your journey to wealth.
Unfortunately, many of us are left to figure out personal finance all on our own. Yet, there is a better way. And it starts with figuring out the puzzle one step at a time. Here are 5 of the most important steps.
In Episode 2 of the Philosophy and Finance Podcast series, Justin Harvey and I discuss the topics of social arbitrage and how our friends impact our finances. The lesson? Choose your friends wisely. Come find out more.
Why are you more likely to go to the gym after buying a membership? Why can’t you sell that car at a loss, even if it is what is best? Why do we buy insurance products on everything? Because you are afraid of loss, and it might be killing your finances.
It is the time of year when freshly minted interns are about to be made, and graduating residents...
The most common question that I get (in real life and online) is the following: “So, I am finished (or about to finish) training. How do I invest my paycheck?” I recognize that for many readers this question may be too basic, but I don’t want to skip it for those that are about to start their life as an attending. Hopefully, even for those that have it all figured out, they’ll find useful information in answering the question.
Politicians, media, and advertisers use the framing effect every day to their advantage. Without you even knowing it. I am here to tell you that the bias imposed by the framing effect has a major impact on your financial decisions, too. Come learn how to stop doing dumb things with your money in the first post of the behavioral finance series (BFS #1).
Let’s be real. Most of us hate budgeting. I know that I do. That said, I am a big believer that unintentional plans lead to lots of people ending up broke. What if I told you that there is a way to budget that you won’t hate, and it will accomplish all of your goals automatically? Too good to be true? Read on to find out…
We all think we know what makes us happy, until we realize that studies show that humans are terrible at figuring out what makes us happy. Enter consumer regret, doubt, and adaptation to make sure our happiness is worse after we spend money than it was before. Surely, there must be a way to spend money that will make us happy. Right?
It’s that time of the month. Tag along as I feature some of the best content on the internet! From moral injury to financial independence and cognitive biases, it’s all covered! I even feature an awesome new brand and my favorite physician burnout blogger.
People often email me to ask how they should get their spouse or partner on the same page financially. Believe it or not, I tell them that talking about numbers and money is unhelpful to accomplish this. Join along as we discuss the real way to have fruitful conversations about personal finance.