Financial Mistakes: The Dumb Things People Do With their Money
Summary
People who are successful and wise in other areas of their life may still be prone to making poor financial decisions—as many of us have learned from experience. Why does that happen so often? And what can we do about it?
Jill Schlesinger, a nationally syndicated financial columnist and award-winning business analyst for CBS News, shares some answers from her new book The Dumb Things Smart People Do With Their Money: 13 Ways to Right Your Financial Wrongs.
Money tends to be a very emotional topic, as Jill explains in this episode. Fear and greed in particular can cloud people’s financial vision, causing them to act against their better judgment. Fortunately, she says, recognizing these emotional triggers can give us the capacity to change our money management behavior.
Check out the podcast for more of Jill’s insights on:
- How to avoid buying financial products or services that you don’t fully understand
- The difference between objective wealth management advice and a sales pitch
- What families often fail to anticipate or discuss before incurring a heavy debt for college
- Why preparing a clear-cut estate plan and getting other financial paperwork in order is one of the most unselfish gifts you can give your family
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