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Why Do People Do Dumb Things? | MHFI 145
Doug chats with his friend, Dusti, about cognitive biases and behavioral economics.
They discuss how our financial habits are heavily influenced by emotions, and why we oftentimes spend money on unnecessary things.
Behavioral Economics
Cognitive Biases
Connect with Dusti on Instagram.
-
Check out the Econome Conference - Save money using our coupon code MILEHIGHFI. Carl and Doug will be there, so come and hang out.
Join the Mile High FI Club – It’s our email list!
Get MHFi Merch – It helps support the show. Get t-shorts & more
**Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won't even make such a claim. You shouldn't take the info as financial, legal, or tax advice. We aren't certified financial planners or advisors. We're not qualified for much. So get advice from professionals.**
Brought To You By:
The Doug Show, aka Affiliate Marketing & Side Hustles
1500 Days, Carl's Blog about Early Retirement
Email us here: [email protected] or [email protected]
0:00 - Intro
1:20 - Who is Dusti?
12:12 - Behavioral economics and the emotional side to money
18:11 - How you can support us
21:02 - Availability bias
23:10 - Confirmation bias and how society affects our buying decisions
29:39 - Is having fewer options better?
34:28 - People overvalue what they own
43:06 - Going along with everyone else
50:04 - Loss aversion
53:20 - The ostrich effect
View all episodes
By Carl Jensen & Doug Cunnington
4.4
169169 ratings
Doug chats with his friend, Dusti, about cognitive biases and behavioral economics.
They discuss how our financial habits are heavily influenced by emotions, and why we oftentimes spend money on unnecessary things.
Behavioral Economics
Cognitive Biases
Connect with Dusti on Instagram.
-
Check out the Econome Conference - Save money using our coupon code MILEHIGHFI. Carl and Doug will be there, so come and hang out.
Join the Mile High FI Club – It’s our email list!
Get MHFi Merch – It helps support the show. Get t-shorts & more
**Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won't even make such a claim. You shouldn't take the info as financial, legal, or tax advice. We aren't certified financial planners or advisors. We're not qualified for much. So get advice from professionals.**
Brought To You By:
The Doug Show, aka Affiliate Marketing & Side Hustles
1500 Days, Carl's Blog about Early Retirement
Email us here: [email protected] or [email protected]
0:00 - Intro
1:20 - Who is Dusti?
12:12 - Behavioral economics and the emotional side to money
18:11 - How you can support us
21:02 - Availability bias
23:10 - Confirmation bias and how society affects our buying decisions
29:39 - Is having fewer options better?
34:28 - People overvalue what they own
43:06 - Going along with everyone else
50:04 - Loss aversion
53:20 - The ostrich effect
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