Utah's Hope

We like to think we make rational decisions with our money, but what if our emotions influence our financial choices far more than we realize?

That’s one of behavioral economics' central findings: human psychology shapes financial decisions. While these discoveries have challenged traditional economic thinking, they reinforce what Scripture has taught for thousands of years: human wisdom is limited, our hearts can deceive us, and our emotions don't always lead us in the right direction.

Mark Biller, Executive Editor and Senior Portfolio Manager at Sound Mind Investing (SMI), believes understanding these tendencies can help Christians become wiser, more disciplined investors.

For decades, traditional economic theory largely assumed people make rational financial decisions based on available information and their own economic interests.

But behavioral economists have shown that emotions, cognitive biases, and psychological tendencies often shape our decisions in ways that can undermine our financial well-being.

While these findings have transformed modern economic thinking, they shouldn't surprise Christians familiar with Scripture. Consider what the Bible reveals about human nature:

Our wisdom is flawed. 1 Corinthians 3:18–19 reminds us that human wisdom doesn't always align with God's wisdom. What seems reasonable from our limited perspective may not be wise at all.

Our hearts can deceive us. Jeremiah 17:9 warns that the human heart is deceitful. We may believe we're making objective financial decisions when fear, pride, or greed actually shapes our motivations.

Our emotions can overpower our intentions. In Romans 7:18, Paul acknowledges the struggle between knowing what is right and actually doing it. Investors experience a similar tension when they understand sound financial principles but struggle to follow them during market volatility.

Our ability to predict the future is limited. James 4:13–14 cautions against assuming we know what tomorrow will bring. That principle matters especially in investing, where even the most experienced professionals cannot consistently predict market movements.

Recognizing these limitations should encourage humility, not fear. We don't have to understand everything about the future to make wise financial decisions today. And according to Biller, there are practical ways to account for these human weaknesses when managing investments.

At Sound Mind Investing, Biller and his team encourage investors to recognize their behavioral tendencies and establish disciplined practices to counteract them. Here are three strategies they recommend.

1. Establish Clear, Non-Emotional Selling Guidelines

One of the most difficult investment decisions is knowing when to sell.

Behavioral economists have identified two common tendencies that make selling particularly challenging.

The first is the Endowment Effect, our tendency to value something more simply because we own it.

An investor might become emotionally attached to a particular stock, especially after it has perfor

Trisha Davis explains how her tendency to be a rule-follower, and her husband’s tendency to be a rule-breaker, set them up for disaster when their marriage was tested.

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Find Hope for Your Hurting Marriage -- This 6-part video series was created specifically for couples in crisis — those facing emotional distance, depression, control issues, infidelity, or even questions about whether the marriage can survive. Best-selling author and marriage counselor Dr. Gary Chapman will walk with you through the kinds of situations that often precede divorce. Discover what thousands of couples have learned that saved their marriage and how to find hope in the midst of your hurt.

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Miscarriage is a painful and often silent loss that many parents carry alone. John Fuller and Dr. Danny Huerta explore the grief, guilt, and healing that come with pregnancy loss, drawing from their own experiences and a candid conversation with author Annie F. Downs and her sister Tatum Green, who opens up about four miscarriages, her wrestling with God, and the eventual arrival of her miracle son, Sam. A compassionate look at how couples can grieve together, find community, and hold onto hope.

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You pray alone. No problem. But praying out loud with the person who knows you best? Suddenly, checking your phone sounds productive. If you’re wondering how to pray with your spouse without feeling awkward, Dave and Ann Wilson get candid about vulnerability, conflict, and why two people who love God can still find those first few words surprisingly hard.

Show Notes and Resources

• 5 Prayers for Couples When You Don’t Know What to Say.

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What if debt isn’t just a financial issue—but a discipleship one? We often view borrowing through a financial lens—rates, payments, and timelines; however, in Scripture, we are invited to see the spiritual implications, too. Debt can shape our freedom, generosity, and ability to respond when God calls. On the next Faith & Finance Live, Rob West explores a more biblical perspective on borrowing. Then, it’s your questions. That’s Faith & Finance Live—where biblical wisdom meets today’s financial decisions—weekdays at 4pm Eastern/3pm Central on Moody Radio.

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Colby Rummell introduces Paxton D. Kleinhauser III and shares the long road that finally brought him to Adventures in Odyssey. Plus, Bob and Jesse reveal every episode title in Album 83: “Phase One” and preview “Teambuilding University.”