Shannon Lee Simmons

Shannon Lee Simmons, a certified financial planner and founder of the New School of Finance, and Bruce Sellery, CEO of Credit Canada, dive into the pitfalls of buy now, pay later (BNPL) services. They discuss how these tempting offers can lead to overspending, especially among younger consumers facing cash flow pressures. The duo highlights psychological aspects, like emotional spending, and the potential mental health toll of accumulating debt. They also provide tips on using BNPL wisely and the importance of setting spending boundaries.

Shannon Lee Simmons, a certified financial planner and author, highlights the normalization of sports betting among youth and how it influences their investing habits. Behavioral researchers Perry Wright and Hans Frech explore the parallels between gambling and speculative investing, dissecting the factors like excitement and social comparisons that drive risky behaviors. They discuss app design elements that encourage frequent trading and suggest guardrails like pre-set limits to protect users' finances. This fascinating conversation sheds light on the blurred lines between gambling and investing.