Every choice that you make is a trade off against something else. In the month of september, we're going to spend four weeks listening to four episodes themed around the four pillars of fire. F for financial psychology, i for investing, r for real estate and e for antropenorship. To day, christian burman joins us to talk about why we act the way we do when it comes to the way that we spend our time.
#337: Meet Kristen Berman, a top researcher in the field of behavioral economics. She’s the co-founder of Irrational Labs, which designs products that are evidence-based in the behavioral sciences.
Her co-founder, Dan Ariely, is the James B. Duke Professor of psychology and behavioral economics at Duke University, and one of the most famous behavioral economists in the world.
Here are some of the (counterintuitive!) ideas that Kristen shares:
- Habits are overrated. Automate instead
- Budgeting doesn’t change your spending behavior
- Commit in advance
- Forget about the outcome
- Focus on the process
- You need accountability
- Think about the Three B’s: behavior, barriers and benefits
Tune into this episode to hear Kristen elaborate on these research-backed, evidence-based ideas about how to improve our spending, saving and investing habits.
For more information, visit the show notes at https://affordanything.com/episode337
*Note: This interview originally aired in October 2019.
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