Explore the hilarity of self-sabotage as personal anecdotes reveal our uncanny ability to make impulsive financial decisions. Delve into the psychology behind our money habits and how technology can lead us astray. Uncover strategies to combat present bias and make sound financial choices, while also learning about the power of compound interest. Enjoy a lively beer review paired with practical tips for better financial management, all while navigating the quirky dance between our instincts and modern money challenges.
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Jeep Mudding Mishap
Matt shares a story about getting his Jeep stuck in mud and ruining the transmission.
He learned the hard way that overestimating capabilities causes costly mistakes.
insights INSIGHT
Self-Sabotage Reality
The meme of a person sabotaging themselves is both hilarious and true.
We know what we should do, but often do the opposite, especially with money.
insights INSIGHT
Money Behavior Roots
Our personal history and personality impact financial behavior more than age or education.
Early life experiences strongly influence how we react to money today.
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Have you seen the meme of the guy on a bike who puts a stick in his spokes and then crashes? There are literally hundreds of different versions based on this goofy comic. For instance the first frame on one says “15 holes of good golf,” then followed by “my brain realizing I’m playing well,” as he puts the stick in the front wheel before writhing in pain on the ground. The truth is, it’s not all that hard for us to become our own worst enemy. And that reality is what makes those memes so hilarious and poignant at the exact same time. We understand the truth, we know how it is that math works, and what it is that we should do… but then we go and do the exact opposite thing. And that’s particularly true when we’re talking about money. Simply knowing how to invest won’t make you wealthy and having good intentions won’t get the job done. So today we want to talk about some of the common ways we’re conspiring against ourselves and offer an antidote to help us make the progress we’re looking to achieve. As Carl Jung said, “Until you make the unconscious conscious, it will direct your life and you will call it fate.” It’s time to dig in!
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During this episode we enjoyed an End of Plagues by Burial Brewing! And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money!
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