How Much is Your Money Bias Costing You?

On this episode, we’ll breakdown a CNBC article that analyzes a recent Morningstar study. The study found that most of us have at least one money bias, some of us more than one, and that those biases are very possibly costing us money in our checking, savings, investing and retirement accounts. Listen to see if you might be impacted by a specific money bias and for strategies to get it back under control.

 

Read the CNBC article: https://www.cnbc.com/2022/01/14/98-percent-of-americans-have-at-least-1-money-bias-study.html

 

Read more and get additional financial resources here: http://listentoscott.com 

What we discuss in this episode:

2:45 – Key points of the article

4:14 – Four main biases

8:25 – Low bias, better financial health

10:07 – Solutions and priorities

13:27 – Biases we see