Why do we make bad decisions, even when we know they're bad?
Emotions play a big role in how we think and act around money, and for the most part, they're negative influences. That's why automation is so important if you're looking to grow your net worth.
Flexo at Consumerism Commentary goes even further, laying out 3 reasons why investors in particular make poor decisions.
- recency effect
- confirmation bias
- losing money is painful
Want to get started on the path to complete financial automation? Download the free 3-day copy of Automatic Finances now!
If you find yourself putting your financial life back together, whether it's from a layoff, poor investment choices, or you're struggling to pay the bills, you need a personal recovery. The Mint Blog highlights a story from AskMen.com offering a 7-Step Financial Recovery Plan.
Finally this week — though we rarely talk about technology outside of online banking and account aggregation, My Money Blog has a post on Ways to Save Money With Google Voice.
The service — which I use — offers you one phone number to manage all your numbers, with forwarding, voicemails as MP3s (and transcribed) and a boatload of other features.
About the author: Jason is the author of Automatic Finances: 17 Days to Your Financial Freedom, a guide to automated money management. He started investing thanks to a free lunch, and after finding out how he was getting the short end of the stick, he sought out how to do it right. More »
Hi. I'm Jason and My Finances are on Autopilot.
Using freely available tools online and a mindset dedicated to growing my net worth, my finances are completely automated. This blog is all about living a life of financial freedom. Find out how!
- 33 Free Personal Finance Templates for Google Docs
- Weekend Linkage: Good Debt, True Costs and Psychology
- Search Results
- Why Reverse Stock Splits Hurt Shareholders
- 7 Personal Finance Books You Need to Read
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Thanks for the mention!