Masters in Business At The Money: Our Complicated Relationship With Cash
4 snips
Oct 16, 2024 
Dr. Daniel Crosby, Chief Behavioral Officer at Orion Advisor Solutions and author of 'The Laws of Wealth,' joins Barry Ritholtz to discuss our complex relationship with money. They tackle cognitive biases that cloud financial decisions and highlight how spending on experiences can lead to greater happiness than accumulating wealth. Crosby emphasizes the importance of delayed gratification and creating a personalized financial plan that reflects true values. The conversation also touches on the mental health aspects of mindful spending and its impact on overall life satisfaction.
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True Wealth
- True wealth is more than just money.
- It includes positive experiences, engagement, relationships, meaning, and advancement.
Behavioral Errors
- Common behavioral errors in finance include ego, emotion, attention, and conservatism.
- These biases can negatively impact financial decisions.
Buying Happiness
- Spend money on meaningful experiences and things you value.
- Outsourcing unpleasant tasks can improve happiness.
