Afford Anything Why Nice People Struggle with Money, with Dr. Sandra Matz, Professor at Columbia Business School
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Jul 25, 2025 Dr. Sandra Matz, a professor at Columbia Business School, dives into the fascinating world of personality and finance. She reveals why agreeable people struggle with saving and how reframing financial goals can lead to better outcomes. By viewing savings as a protective measure for loved ones, agreeable personalities can enhance their financial habits. The discussion also touches on the power of big data and AI in predicting financial behaviors and the ethical dilemmas of these technologies in shaping spending decisions.
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Algorithms Know Us Better Than Family
- Algorithms can predict personality traits better than close family with enough data like 300 Facebook likes.
- People reveal more in online behavior and searches than they do to those closest to them.
Agreeable People Struggle Financially
- Agreeable people who are caring and empathetic tend to struggle more with managing money.
- This is because they often care less about money itself, which affects their saving behaviors.
Reframe Savings by Personality
- Tailor financial goals to people's personality types for better saving habits.
- Agreeable people save effectively when they see funds as protection for loved ones, while competitive people save to get ahead.
