Anchoring or the Anchoring Bias is the human tendency to evaluate or “anchor” numbers based on their presentation. Observers and participants are usually swayed by the availability or recency of a number. The human tendency towards anchoring bias is often exploited to make subsequent facts or numbers appear in a certain light. Beware the Anchoring […]
Imposter Syndrome – or the Imposter Phenomenon – is a feeling of intellectual self-doubt where people fear exposure as a “fraud”. In the face of – often overwhelming – objective proof of competence or excellence, individuals with imposter syndrome still don’t feel they deserve praise or accolades. Although first described in high achieving women, subsequent […]
A common financial topic begging for answers is whether to pay down debt or invest. Over much of the internet, it is encouraged to pay down your high interest debt before investing in a Roth IRA or putting money into a 401(k) above the employer match. The difficulty has always been in defining what, exactly, […]
Personal finance bloggers and personal finance connoisseurs (such as me) often feel that they have ultimate control over their actions. The belief is that if one is aware of their goals, the can reach them with the greatest of ease.
- Do you want to create an emergency fund? Spend four months building one.
- Do you want to retire at age forty? Control spending now and begin investing in tax-sheltered investment vehicles.
- Do you want to reduce your money spent on gas? Simply hypermile!