Achieve Your First $1,000: Behavioral Finance Tips with Dr. Bryan Foltice

Welcome to the first episode of the Bryan Foltice Behavioral Finance Podcast! Dr. Bryan Foltice dives into the world of behavioral finance and personal milestones, focusing on how to save your first $1,000. Whether you're starting from zero or already have some savings, this episode is packed with actionable strategies to help you achieve this initial goal. Dr. Foltice also introduces the 'Money Strong' program and the importance of having a financial cushion to mitigate unforeseen expenses. Tune in for practical tips on cutting expenses, boosting income, and setting up effective savings plans.

00:00 Introduction to the Podcast
00:24 The Importance of Saving Your First $1000
03:09 Understanding the Murphy Fund
07:17 Practical Tips for Saving $1000
12:34 Where to Keep Your Savings
15:29 Conclusion and Next Steps

Support the show

Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com
Money Strong Program - www.moneystrong.net

Instagram - www.instagram.com/bryanfoltice
Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/

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Understanding the Winner's Curse: How Overpaying Leads to Losses

Welcome to the Bryan Foltice Behavioral Finance Podcast! In this episode, host Dr. Bryan Foltice delves into the intriguing phenomenon of the winner's curse—a situation where winning can actually mean losing. By examining real-world examples ranging from eBay auctions and trading card businesses to sports contracts and major acquisitions, Dr. Foltice explains how overconfidence, emotional decision-making, and asymmetric information often lead to overpaying. He also shares practical strategies to recognize and avoid falling victim to this financial pitfall. Tune in for valuable insights on making smarter, more informed financial decisions.

00:00 Introduction to the Brian Foltis Behavioral Finance Podcast
00:27 Understanding the Winner's Curse
01:36 Personal Experience with eBay Auctions
04:47 Emotional Decision Making in Auctions
05:37 The Loser's Curse in Sports Contracts
07:28 Overconfidence and Emotional Decision Making
10:29 Examples of the Winner's Curse in Business
14:12 Avoiding the Winner's Curse
17:20 Conclusion and Listener Engagement

Support the show

Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com
Money Strong Program - www.moneystrong.net

Instagram - www.instagram.com/bryanfoltice
Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/

Disclaimer: www.bryanfoltice.com/cv

Unmasking the Super Bowl Effect in Behavioral Finance | Bryan Foltice

Welcome to another episode of the Bryan Foltice Behavioral Finance Podcast! This week, coinciding with Super Bowl week, Dr. Bryan Foltice dives into the intriguing 'Super Bowl effect'—a theory that links Super Bowl outcomes with stock market performance. Originating from a 1978 New York Times article by Leonard Kopet, the theory suggests that an AFC team win signals a market decline, while an NFC team win predicts a bull run. Bryan scrutinizes this pattern recognition, its historical accuracy, and the cognitive biases that entice us to believe in such coincidences. He concludes by emphasizing the importance of disciplined, long-term investment strategies over superstitious financial decisions. Tune in for an enlightening discussion and don't forget to subscribe!

00:00 Introduction to the Podcast
00:42 The Super Bowl Effect Explained
02:00 Historical Analysis of the Super Bowl Effect
04:33 Behavioral Finance and Cognitive Biases
07:33 Correlation vs. Causation
10:00 Other Market Indicators and Theories
12:49 Final Thoughts and Advice
13:15 Closing Remarks

Support the show

Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com
Money Strong Program - www.moneystrong.net

Instagram - www.instagram.com/bryanfoltice
Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/

Disclaimer: www.bryanfoltice.com/cv

Smart Goal Setting in Personal Finance for 2025: A Year in Review and Planning Ahead

In this episode of the Bryan Foltice Behavioral Finance Podcast, Dr. Bryan Foltice discusses personal finance goal setting for the new year, reviewing the events of 2024. He emphasizes the importance of SMART goals (Specific, Measurable, Achievable, Relevant, Time-bound) and shares personal milestones, such as paying off student loans and improving financial habits. The episode focuses on helping listeners craft well-defined financial objectives to make 2025 a prosperous and successful year. Dr. Foltice also offers resources available on his website and Udemy courses.

00:00 Introduction to the Podcast
00:50 Setting Personal Finance Goals for 2025
02:40 Reflecting on Past Financial Decisions
03:49 Mandy's Career and Financial Journey
06:49 Combining Finances in Marriage
11:53 Achieving Financial Milestones
13:18 SMART Goal Setting Explained
19:17 Conclusion and Final Thoughts

Support the show

Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com
Money Strong Program - www.moneystrong.net

Instagram - www.instagram.com/bryanfoltice
Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/

Disclaimer: www.bryanfoltice.com/cv

Understanding the Mere Urgency Effect in Behavioral Finance

In this episode of the Bryan Foltice Behavioral Finance Podcast, Dr. Bryan Foltice explores the Mere Urgency Effect, a psychological phenomenon where people prioritize urgent tasks over important ones, even if the latter offers greater rewards. He delves into recent studies from the Journal of Consumer Research by professors from Carnegie Mellon, Florida, and Chicago. Bryan explains the practical implications of this effect on productivity and financial planning, offering actionable advice on how to better categorize and prioritize tasks to achieve financial and personal goals. He also provides resources for further learning and tools for effective financial planning available on his website and Udemy. Listeners are encouraged to subscribe and engage with the podcast for more insights into behavioral finance.

00:00 Introduction and Podcast Overview
00:23 Promotional Announcements and Resources
01:27 Understanding the Mere Urgency Effect
02:14 Real-Life Examples of Urgency vs. Importance
07:12 Implications for Productivity and Finance
11:08 Strategies to Outsmart the Urgency Effect
16:19 Conclusion and Final Thoughts

Support the show

Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com
Money Strong Program - www.moneystrong.net

Instagram - www.instagram.com/bryanfoltice
Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/

Disclaimer: www.bryanfoltice.com/cv

Goal Setting and Financial Independence for 2025

In this episode of the Bryan Foltice Behavioral Finance Podcast, Dr. Bryan Foltice helps listeners kick off 2025 with personal finance goal setting. Discussing SMART goals, he outlines the importance of setting Specific, Measurable, Achievable, Relevant, and Time-bound objectives. Bryan shares his own journey with his wife Mandi, tackling debt and prioritizing investments, and encourages listeners to reflect on their financial progress over the past year to set impactful goals for the new year. Tune in for insights on achieving financial independence and making informed decisions with your money.

00:00 Introduction to the Podcast
00:50 Setting Personal Finance Goals for 2025
02:40 Reflecting on Past Financial Decisions
03:49 Mandi's Career and Financial Journey
06:49 Combining Finances in Marriage
11:53 Achieving Financial Milestones
13:18 SMART Goal Setting Explained
19:17 Conclusion and Final Thoughts

Support the show

Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com
Money Strong Program - www.moneystrong.net

Instagram - www.instagram.com/bryanfoltice
Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/

Disclaimer: www.bryanfoltice.com/cv

Mastering Time Management and Financial Decisions with Pareto's Principle

In this episode of the Bryan Foltice Behavioral Finance Podcast, Dr. Foltice returns after a hiatus to discuss the challenges of time management and financial decision-making, using Pareto's Principle (the 80/20 rule) as a guide. He shares his personal experiences from a demanding fall semester, reflects on the importance of focusing on high-impact activities, and offers actionable steps to improve time and financial management for the upcoming year. Dr. Foltice also emphasizes the benefits of passive index investing and minimizing distractions like email and smartphones to enhance productivity and financial well-being.

00:00 Introduction to the Podcast
00:44 New Year, New Topics: Time Management and Behavioral Finance
01:31 Personal Experiences and Challenges
06:02 Understanding Pareto's Principle
10:35 Applying Pareto's Principle to Time Management
12:33 Financial Decisions and Investments
15:01 Actionable Steps for Improvement
19:46 Conclusion and Final Thoughts

Support the show

Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com
Money Strong Program - www.moneystrong.net

Instagram - www.instagram.com/bryanfoltice
Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/

Disclaimer: www.bryanfoltice.com/cv

Introducing the Money Strong Program: Empowering Financial Literacy at Butler University

In this episode, Bryan introduces his friend and partner, Randy Brown, as they unveil the Money Strong Program at Butler University. 

Together, they share their journey in developing the program, emphasizing the importance of financial literacy for students. Randy shares his personal background in HR and his transition to a career mentor at Butler, while Bryan explains the personal experiences that fueled his passion for financial literacy. 

The duo discusses the steps they've taken to launch the program, the challenges they've faced, and the incredible support they've received from the Butler community. 

They highlight the key components of the program, including large group 'Money Talks' sessions, one-on-one financial advice from professionals, and the creation of a new Personal Finance Club. 

Join Bryan and Randy as they share their mission to help students navigate their financial futures more confidently.

00:00 Introduction and Guest Welcome
00:54 Randy Brown's Background and Career Journey
03:25 Transition to Butler University
06:48 Challenges and Insights in Career Mentoring
10:44 The Birth of the Financial Literacy Initiative
17:52 Building the Financial Literacy Program
27:01 Launching the Personal Finance Club
30:35 Future Plans and Call to Action

Support the show

Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com
Money Strong Program - www.moneystrong.net

Instagram - www.instagram.com/bryanfoltice
Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/

Disclaimer: www.bryanfoltice.com/cv

The Untold Truths of Starting Your Own Business | Bryan Foltice Behavioral Finance Podcast

Welcome to the Bryan Foltice Behavioral Finance Podcast! In this episode, Bryan shares invaluable insights on starting your own business, focusing on three often overlooked aspects: the overwhelming responsibility, the isolation, and the slow growth. Drawing from his own experiences, Bryan provides encouragement and practical advice to help you navigate these challenges and succeed in your entrepreneurial journey. Plus, discover how these obstacles can lead to personal growth and long-term success. Don't miss out on this candid and inspirational discussion!

00:00 Introduction to the Podcast
00:55 The Hidden Challenges of Starting a Business
02:19 It's All On You: The Reality of Running a Startup
05:21 The Isolation and Loneliness of Entrepreneurship
07:56 Facing the Harsh Reality of Results
09:37 Turning Challenges into Opportunities
10:42 Encouragement and Final Thoughts
12:21 Personal Reflections and Growth
19:17 Conclusion and Available Resources

Support the show

Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com
Money Strong Program - www.moneystrong.net

Instagram - www.instagram.com/bryanfoltice
Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/

Disclaimer: www.bryanfoltice.com/cv

Understanding and Overcoming the Planning Fallacy | Bryan Foltice Behavioral Finance Podcast

In this episode of the Bryan Foltice Behavioral Finance Podcast, host Bryan Foltice discusses the 'planning fallacy,' a common cognitive bias where individuals systematically underestimate the time, cost, and risks associated with tasks. Originating from the work of Daniel Kahneman and Amos Tversky in 1979, this fallacy affects everyone, including academics and professionals. 

Bryan shares his personal experiences and insights on avoiding the pitfalls of the planning fallacy, emphasizing the importance of realistic time estimations, proper budgeting, and anticipation of potential risks to improve productivity and financial planning. Tune in to learn practical strategies to combat this common bias and enhance your decision-making skills.

00:00 Introduction to the Planning Fallacy
00:49 Personal Experience with the Planning Fallacy
01:47 Origins and Explanation of the Planning Fallacy
02:33 Impact of the Planning Fallacy in Academia
04:14 Optimism and Miscalibration
05:09 Real-Life Example: Summer Project
07:55 Budgeting and Financial Implications
10:13 Evaluating Risk and Setting Expectations
11:43 Strategies to Overcome the Planning Fallacy
14:53 Conclusion and Offerings

Support the show

Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com
Money Strong Program - www.moneystrong.net

Instagram - www.instagram.com/bryanfoltice
Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/

Disclaimer: www.bryanfoltice.com/cv