June 21, 2024

Do Money Manifestations Do Anything?

35 minutes

We’re told to use money affirmations like “I am rich” and “I am always discovering new sources of income” to increase our abundance. We’re even told that we can manifest our way to a completely new life using the power of positive feelings and good vibes. But do money manifestations really work?

Amanda Montell had the same question. In her new book, The Age of Magical OverThinking: Notes on Modern Irrationality, she digs into our obsession with manifestations, nostalgia, confirmation bias, and what it all has to do with our modern existence. (Hint: It’s a lot more than you might think.)

Chapters:

00:00: Introduction

04:55: Cognitive Biases and Their Impact

07:44: Cognitive Biases in Financial Decision-Making

13:22: Money Manifestations and Magical Thinking

21:27: Spending on Self-Healing and New Age Practice

26:32: Shine Theory and Female Competition

Takeaways:

Cognitive biases are mental magic tricks that we play on ourselves to make sense of the world, but they can clash with the information age and lead to irrationality.

Positive thinking and optimism have benefits, but applying absolutist ideology or capitalism to ideas of manifestation can be harmful.

Women are more likely to spend money on self-healing practices due to marketing and societal conditioning, but balancing optimism and skepticism is crucial.

Overconfidence is a bias that affects both men and women, manifesting in different contexts.

Shine theory, the idea that another person's success does not diminish your own can help combat jealousy and foster connections.

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The HerMoney with Jean Chatzky podcast is sponsored by Edelman Financial Engines. The podcast team and its host are neither employees nor clients of EFE, however, the show does receive fixed compensation and is a paid endorser and therefore has an incentive to endorse EFE and its planners. To learn more about the sponsorship, please visit PlanEFE.com/HerMoney.

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By Jean Chatzky Her Money

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