The Psychology of Money: Why We Spend Irrationality

Doing well with money isn't necessarily about what you know. It's about how you behave.

Anchoring Bias

The tendency to rely too heavily on the first piece of information offered when making a decision.

Loss Aversion

The pain of losing is psychologically twice as powerful as the joy of gaining.

Keeping Up with the Joneses

Our spending is often influenced by our desire to match the social status of our peers, even if it hurts our bank account.