It seems more of the news lately is focusing on increasing credit card debt amid higher interest rates—and millions of Americans are finding themselves stuck with a growing credit card balance. It can be quite the struggle to manage finances in this inflationary environment, so there’s good reason for you to be cautious.
This whole concept raises the question: What makes managing money so challenging?
Cognitive biases can be a large part of the problem. That’s why I wanted to share the New York Times article below, to help inform your decision making this week. Cognitive biases can be more harmful than helpful when it comes to managing your finances. They can prevent you from seeing things clearly and making rational decisions about spending and saving.
Knowing the biases you’re most susceptible to can help you make better decisions with your money.
Check out these articles with relevant information for your financial strategy and reach out with any comments or questions. Let’s keep in touch.
When It Comes to Money, Your Brain Can Be Your Own Worst Enemy
Moving in Retirement to Cut Tax Costs? Consider These 4 Factors First.
What Is the Impact of Inflation on My 401(k)?
The Last-Minute Retirement Plan Moves That Can Cut Your Tax Bill
You Could Live to 100. The Trick Is Not Running Out of Money.