In this series, it’s my goal to help you recognise the biases that can subtly – and sometimes not so subtly – pull or push your thinking into making decisions about your finances that aren’t entirely rational. When you’re able to recognise these pushes and pulls, you’ll be able to make smarter choices about your money, and hopefully end up saving and earning more.
All content for Nudging Financial Behaviour is the property of Dr Gizelle Willows and is served directly from their servers
with no modification, redirects, or rehosting. The podcast is not affiliated with or endorsed by Podjoint in any way.
In this series, it’s my goal to help you recognise the biases that can subtly – and sometimes not so subtly – pull or push your thinking into making decisions about your finances that aren’t entirely rational. When you’re able to recognise these pushes and pulls, you’ll be able to make smarter choices about your money, and hopefully end up saving and earning more.
We’ve reached the end of Season 2 of The Nudging Financial Behaviour Podcast. In this episode, you’ll get some bonus questions and answers from all of our guests for the season. We’ve asked them to analyse their own financial behaviour when it comes to the many biases we unpacked throughout the season.
We’re wrapping up Season 2 of The Nudging Financial Behaviour Podcast and asking all of our guests for the season some interesting questions about their own financial behaviour. We extract some final additional wisdom to help all of us make better financial decisions. You don’t want to miss the final episode of the season!
In this episode of The Nudging Financial Behaviour Podcast, we’re looking at how you can overcome Home Bias by chatting about diversification. This is a risk management strategy for investing and a vital part of any investment portfolio.
Episode 9 of The Nudging Financial Behaviour Podcast is coming soon and we’re continuing our discussion on home bias by looking at diversification. We’ve also got Nerina Visser as our guest to help with some very practical tips.
Home bias is just what it sounds like – you prefer to choose things that are closer to home. For investing, this can mean that you have too many assets in your portfolio that are linked to the country you’re living in or the company you work for – and this can lead to major problems.
In this episode of The Nudging Financial Behaviour Podcast, we’re looking at two biases that are all about the order in which you receive information and how that can impact the way you make decisions. These are the Primacy Effect (also known as First Impression Bias) and Recency Bias. They’re similar but not quite the same.
To help us with our discussion and to give us some more insights into how our biases can impact the way we trade or invest, we’ve got Kristia van Heerden as our guest. Kristia is the Global Education Lead for IG Markets South Africa (the sponsor for this podcast) and has plenty of experience in the trading world. We get straight into it… and talk about common trading mistakes. So, of course, we’re unpacking stop losses and other vital tools that should be part of your trading plan.
Useful links:
More about Kristia van Heerden:
https://justonelap.com/the-fat-wallet-show/
https://za.linkedin.com/in/kristiavheerden
Solomon Asch experiment - https://psycnet.apa.org/doiLanding?doi=10.1037%2Fh0055756
Recency and primacy in persuasion as a function of the timing of speeches and measurements by Miller and Campbell - https://psycnet.apa.org/doiLanding?doi=10.1037%2Fh0049330
Be sure to like this episode and hit the subscribe button to get notified when the next episode drops.
You can also read more on my blog: https://www.nudgingfinancialbehaviour.com/trading-mistakes/
Or watch to the video version of this podcast episode: https://youtu.be/hCx-J_hA1aM
Special thanks to everyone who has helped put this series together:
Our sponsor: IG Markets South Africa
Producer: Faeron Wheeler of F Creations
Original music and sound mix: Neil Leachman
Video and editing: Deetlefs Smith and Matthew Carew
Hair and makeup: Ida Webster
Set styling: Michelle Murray of Interiors Etc.
Voice over: Sizo Mphti
We’ve got a two-for-one special happening in episode 7 of The Nudging Financial Behaviour Podcast! We’re discussing First Impression Bias (or the Primacy Effect) and Recency Bias.
Availability bias is all about how we are influenced by information that is readily available, and how we often don’t do enough research before making decisions.
It pretty much goes without saying that any decision we make is based on the information we have at hand – and this is where availability bias comes in.
Impression management is exactly what you think it is – tactics and strategies deployed to manage the impression you have of someone or something. What’s important to know is that loss aversion and the understanding of how that impacts human behaviour is a large part of those impression management tactics.
Did you know that it’s possible to use loss aversion to your benefit? This is where impression management comes in, and this is what we’re covering in episode 5 of The Nudging Financial Behaviour Podcast.
We’re still looking at loss aversion in episode 4 of The Nudging Financial Behaviour Podcast – that’s right, it’s a big topic! Today, we’re breaking down the disposition effect, which is all about how loss aversion manifests itself in the world of investing.
Loss aversion is a big bias. It can impact us in so many ways – causing us to make strange decisions about money. This bias can actually cause you to become risk seeking when you’re faced with a possible loss and then risk averse when you have a gain on your hands
The second episode of the Nudging Financial Behaviour Podcast is coming soon. We’re continuing our discussion from episode 1 with an in-depth look at loss aversion and how that can impact our trading decisions.
To kick off season 2 of The Nudging Financial Behaviour Podcast, we’re talking about a big topic – risk. Risk aversion and risk tolerance are two big concepts that you need to wrap your head around if you want to understand one of the strongest pulls on how and why you make specific decisions about your money.
In this series, it’s my goal to help you recognise the biases that can subtly – and sometimes not so subtly – pull or push your thinking into making decisions about your finances that aren’t entirely rational. When you’re able to recognise these pushes and pulls, you’ll be able to make smarter choices about your money, and hopefully end up saving and earning more.
