Abbe: People are focused on the importance of building savings as an element of being financially responsible. As a result, people would rather borrow money on debt at a high interest rate than draw down money from their savings account. Abbi: There are two different potential solutions to this problem. I think one is to help people understand that more savings isn't always better.
Have you had a recent surprise expense? You're not alone. More than half of American households report facing an unplanned financial shock in the last year. This week, in the second part of our new "Money 2.0" series, psychologist Abigail Sussman points out our blindspots around money, and how we can be smarter about spending and saving.
If you like this show, be sure to listen to last week's episode on how our unconscious attitudes towards money influence how we manage our finances.
Also, check out our new podcast, My Unsung Hero! And if you'd like to support our work, you can do so at support.hiddenbrain.org.