The world often feels rigged. And this episode is a wake-up call to recognize the barriers that exist for those who don’t fit the traditional mold. In this episode, which is a kind of tribute to my dear departed Dad, I recount some powerful lessons from the man who was a brilliant psychiatrist and my biggest champion. He taught me that if something feels off about the environment you’re in, it probably is—and it’s absolutely hella-not your fault. We dare to break into the uncomfortable truth that many workplaces are designed for a very specific demographic, leaving neurodivergent individuals, particularly those on the autism spectrum, feeling excluded. I share three stories in which my Dad imparted to me more than my fair share of his wisdom, and I'm hoping you to can feel empowered. You'll learn that we can advocate for ourselves and others to create a more inclusive work culture. Newsletter Paste this into your browser if the newsletter link is broken - https://www.lbeehealth.com/ Join our Patreon - https://differentnotbrokenpodcast.com/patreon Mentioned in this episode: Sign Up For Our Newsletter Stay updated on all the things! Get added to our newsletter mailing list. Newsletter…
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Welcome to the Money Strong Personal Finance Podcast, where we dive deep into the fascinating intersection of financial decision-making and human behavior.
Your host, Dr. Bryan Foltice, aims to embark on this journey with you to explore the quirks, biases, and psychological factors that shape our financial choices. From understanding why we buy high and sell low, to uncovering the emotional drivers behind our investment strategies, each episode will uncover valuable insights to help you navigate the complex world of finance with clarity and confidence.
So, please join us as we unravel the mysteries of personal and behavioral finance and unlock the secrets to making smarter, more informed decisions with your money.
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Inhalt bereitgestellt von Dr. Bryan Foltice. Alle Podcast-Inhalte, einschließlich Episoden, Grafiken und Podcast-Beschreibungen, werden direkt von Dr. Bryan Foltice oder seinem Podcast-Plattformpartner hochgeladen und bereitgestellt. Wenn Sie glauben, dass jemand Ihr urheberrechtlich geschütztes Werk ohne Ihre Erlaubnis nutzt, können Sie dem hier beschriebenen Verfahren folgen https://de.player.fm/legal.
Welcome to the Money Strong Personal Finance Podcast, where we dive deep into the fascinating intersection of financial decision-making and human behavior.
Your host, Dr. Bryan Foltice, aims to embark on this journey with you to explore the quirks, biases, and psychological factors that shape our financial choices. From understanding why we buy high and sell low, to uncovering the emotional drivers behind our investment strategies, each episode will uncover valuable insights to help you navigate the complex world of finance with clarity and confidence.
So, please join us as we unravel the mysteries of personal and behavioral finance and unlock the secrets to making smarter, more informed decisions with your money.
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Understanding Financial Independence: Breaking Down the Four Levels In this episode of the Money Strong Money Monday podcast, hosted by Dr. Bryan Foltice, the focus is on clarifying the concept of financial independence. Bryan introduces a four-level framework to help listeners understand and navigate their journey toward financial independence. He starts by defining Level 1 as the stage where individuals work to get out of debt and build an emergency fund. Level 2 involves generating passive income through assets like real estate and stocks. Reaching Level 3 means passive income exceeds expenses, allowing more financial freedom. Finally, Level 4 represents ultimate financial flexibility, where income surpasses all expenses by a significant margin. Bryan also encourages listeners to engage with Money Strong's online resources, including their educational programs and social media channels. 00:00 Welcome to Money Strong Money Monday 00:21 Introduction to Financial Independence 00:49 Money Strong Programs and Offers 02:39 Understanding Financial Independence Levels 05:02 Level 1: Ground Level Starting Line 06:42 Level 2: Building Passive Income and Wealth 09:36 Level 3: Passive Income Outweighs Expenses 14:43 Level 4: Ultimate Financial Flexibility 16:16 Conclusion and Final Thoughts You can also find more information and free resources at www.bryanfoltice.com and at www.moneystrong.net. Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…
Understanding Mental Accounting: Avoiding Common Financial Pitfalls In this episode of the Money Strong Personal and Behavioral Finance podcast, host Dr. Bryan Foltice introduces 'Psychological Saturday' with a deep dive into mental accounting. Learn how categorizing money in different areas can lead to both optimal and suboptimal financial decisions. This episode covers how we categorize our investments, income, and financial events, and explores concepts from prospect theory, loss aversion, and the sunk cost fallacy. Bryan also highlights the tendency to overweight low probabilities and offers tips on making better financial decisions. Tune in for insights that could transform your approach to personal finance. Visit www.MoneyStrong.net and connect on social media for more financial advice and resources. 00:00 Introduction to Mental Accounting 00:59 Behavioral Finance Concepts 02:12 Categorizing Investments and Income 06:03 Categorizing Spending 11:06 Categorizing Financial Events 16:48 Overweighting Low Probabilities 18:39 Conclusion and Further Learning You can also find more information and free resources at www.bryanfoltice.com and at www.moneystrong.net. Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…
Side Hustles: Should You Have One? Exploring All Angles Welcome to the Money Strong Personal Finance podcast! Join Dr. Bryan Foltice as he delves into the heated debate around side hustles. Discover the pros and cons, various types of side hustles, and key considerations for deciding when and if you should take on a side gig. Bryan shares personal anecdotes and statistical insights, all while maintaining a balanced viewpoint to help you make an informed decision about your financial future. Tune in and learn how side hustles can help you achieve your financial goals, or if they might lead you to burnout. 00:00 Introduction to the Podcast 00:48 Updates and Announcements 02:24 The Side Hustle Debate 07:30 Types of Side Hustles 14:41 When Not to Pursue a Side Hustle 19:30 Conclusion and Final Thoughts You can also find more information and free resources at www.bryanfoltice.com and at www.moneystrong.net. Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…
Overcoming Financial Planning Obstacles: 4 Common Pitfalls and How to Avoid Them | Money Strong Podcast In this episode of the Money Strong Podcast, host Bryan Foltice discusses the key reasons why many people struggle with long-term financial planning. He outlines four major obstacles: not starting at all, quitting after setbacks, creating unsustainable plans, and losing motivation. Bryan shares strategies to overcome these hurdles by breaking down financial goals into manageable steps, maintaining consistency, and building sustainable plans. He also highlights the importance of community support and mental resilience in achieving financial success. Tune in for actionable advice and frameworks to strengthen your financial future. 00:00 Introduction and Podcast Overview 00:40 End of School Year Reflections 01:54 Transition to Summer Mode 02:26 Why We Fail at Financial Planning 02:44 Reason 1: Not Starting - Due to Being Overwhelmed & Opening Accounts 09:22 Reason 2: Quitting After Setbacks 14:28 Reason 3: Unsustainable Plans 19:46 Reason 4: Losing Motivation 22:27 Conclusion and Call to Action Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…
Navigating Stock Market Corrections: Lessons in Emotion, Timing, and Diversification In this episode of the Money Strong Podcast, host Bryan Foltice discusses the recent stock market correction of 2025. Bryan delves into the importance of remaining unemotional during market downturns and views these periods as buying opportunities. He emphasizes key lessons in managing emotions, understanding time horizons for investments, and the critical role of diversification. Bryan shares his personal experience with loss aversion and offers practical advice on rebalancing portfolios to mitigate risks. Watch and learn how to navigate financial turbulence with a balanced and informed approach. 00:00 Introduction to the Money Strong Podcast 00:48 Reflecting on Recent Market Performance 01:38 Understanding Emotional Reactions 03:38 Lessons from Market Corrections 08:48 The Importance of Time Horizon 11:53 Diversification Strategies 16:13 Rebalancing Your Portfolio 20:33 Final Thoughts and Viewer Engagement Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…
10 Keys to Improve Financial Communication with Your Partner Join Bryan Foltice in the Money Strong Personal Finance Podcast as he discusses how to effectively talk about money with your significant other. This episode dives into 10 key strategies to help build a stronger relationship through financial conversations. Topics include setting regular financial check-ins, maintaining transparency, working as a team, and celebrating milestones together. Bryan also shares his personal experiences and valuable insights into creating a harmonious financial partnership. 1. Set a Regular Money Date Schedule a relaxed time (weekly, biweekly, or monthly) to discuss finances. Keep it low-pressure—maybe over coffee or dinner. 2. Be Honest and Transparent Share your income, expenses, debts, and financial goals. Avoid hiding purchases or financial decisions. 3. Focus on Teamwork, Not Blame Approach money as a team effort rather than pointing fingers. Use "we" statements instead of "you" (e.g., "How can we improve our savings?" instead of "You need to stop spending so much"). 4. Define Shared Goals Discuss what matters most—paying off debt, saving for a house, investing, etc. Align on long-term goals like retirement or travel. 5. Understand Each Other’s Money Mindset Discuss how you were raised with money and how it affects your financial habits. Recognize if one of you is a spender and the other is a saver—find a balance. 6. Use a Budget That Works for Both of You Choose a budgeting method that fits your lifestyle (e.g., joint or separate accounts, percentage-based budgeting). Use apps or spreadsheets to track spending together. 7. Give Each Other Some Financial Freedom Set aside “no-questions-asked” personal spending money. This avoids micromanaging and resentment. 8. Handle Disagreements Calmly If tensions rise, take a break and return to the conversation later. Compromise where possible and seek solutions, not arguments. 9. Consider a Financial Advisor or Coach If discussions become too difficult, an objective third party can help. 10. Celebrate Progress Together Acknowledge wins—paying off a debt, reaching a savings goal, etc. Reward yourselves for good financial habits. Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…
Overcoming Negativity Bias: Strategies for Financial Resilience | Money Strong Podcast In this episode of the Money Strong podcast, host Bryan Foltice discusses the common human tendency towards negativity bias and its implications for personal finance. He provides updates on the rebranding of the podcast and the new Money Strong College Program available on various platforms. Bryan shares personal stories and insights into the current state of the stock market, emphasizing the importance of maintaining a positive mindset during financial downturns. He explores historical market trends, the emotional impact of market fluctuations, and strategies for managing and overcoming negativity bias to achieve long-term financial success. Bryan encourages listeners to stay the course with their investments, learn from setbacks, and continue to save diligently. The episode blends behavioral finance concepts with practical financial advice aimed at helping individuals build a robust financial future. 00:00 Introduction to the Money Strong Podcast 01:19 Personal Updates and New Beginnings 03:37 Market Overview and Negativity Bias 06:05 Investment Strategies and Diversification 09:42 Behavioral Finance and Overcoming Negativity 16:38 Lessons from Past Market Experiences 20:53 Strategies to Overcome Financial Setbacks 22:02 Conclusion and Viewer Engagement Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…
Mastering Debt: Understanding Your Financial Intensity Levels Join Dr. Bryan Foltice in this episode of the Bryan Foltice Behavioral Finance Podcast as he dives deep into the concept of financial intensity levels, particularly in the context of paying off loans and debt. Bryan shares his unique approach from his Money Strong program, offering four distinct intensity levels: minimal effort, moderate effort, high effort, and extreme intense effort. Drawing from personal anecdotes and professional insights, he emphasizes that not everyone should approach debt repayment the same way. Listeners will learn how to identify the level that best fits their personality and situation, and how to design their financial goals accordingly. Don't miss valuable tips on creating a balanced financial plan that promotes both debt repayment and wealth building. 00:00 Introduction to the Podcast 01:15 Understanding Intensity Levels in Finance 02:59 Personal Stories and Lessons Learned 09:05 Four Levels of Debt Repayment 20:57 Conclusion and Final Thoughts Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…
Debt Repayment Strategies Unveiled | Bryan Foltice Behavioral Finance Podcast In this episode of the Bryan Foltice Behavioral Finance Podcast, host Dr. Bryan Foltice dives into debt repayment strategies. Dr. Foltice discusses the growing issue of consumer debt in the U.S. and reveals different methods to tackle it, including the snowball, avalanche, and snowflake methods. He also introduces a hybrid repayment approach. Additionally, he offers advice for new graduates on balancing debt repayment with retirement savings. Don't miss this insightful episode to help you or someone you know get out of debt more effectively. 00:00 Introduction to the Podcast 00:26 Understanding Debt Repayment Strategies 06:54 The Snowball Method Explained 09:33 The Avalanche Method: Pros and Cons 11:25 The Snowflake Method: Small Wins 15:36 Hybrid Approach to Debt Repayment 18:49 Conclusion and Final Thoughts Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…
Understanding Hedonic Adaptation in Behavioral Finance with Dr. Bryan Foltice Welcome to the Bryan Foltice Behavioral Finance Podcast! In this episode, Dr. Bryan Foltice dives deep into the concept of hedonic adaptation, also known as the hedonic treadmill. Dr. Foltice shares his personal journey, transitioning from the corporate world to academia, and illustrates how we often adapt to both positive and negative life events. He further discusses the impact of this adaptation on financial decisions, the pitfalls of lifestyle inflation, and the importance of aligning financial goals with personal values. Learn practical advice on practicing gratitude, spending on experiences, and aligning your finances with life goals for long-term happiness. Tune in for an insightful discussion on making smarter, more informed financial decisions. 00:00 Introduction to the Podcast 01:33 Understanding Hedonic Adaptation 02:14 Personal Journey: From Investment Banking to Academia 07:13 Achieving Tenure: The Emotional Rollercoaster 14:08 Hedonic Adaptation in Financial Decisions 19:51 Strategies to Overcome Hedonic Adaptation 24:02 Aligning Financial Goals with Life Purpose 26:17 Conclusion and Final Thoughts Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…
Unveiling the Ziegarnik Effect: How Unfinished Tasks Shape Our Financial Decisions In this episode of the Bryan Foltice Behavioral Finance Podcast, Dr. Bryan Foltice delves into the Ziegarnik effect, a psychological phenomenon that explains why unfinished tasks occupy our minds more than completed ones. The discussion covers the impact of this effect on various aspects of life, including work, personal tasks, and even watching TV shows. Dr. Foltice then bridges the concept to behavioral finance, illustrating how unresolved financial issues like debt can cause stress and anxiety. He offers strategies to mitigate these effects and transform financial goals into powerful motivators. This episode provides valuable insights into using the Ziegarnik effect to enhance financial decision-making and overall well-being. 00:00 Introduction to the Bryan Foltice Behavioral Finance Podcast 01:13 Unpacking the Ziegarnik Effect 02:42 Applying the Ziegarnik Effect in Daily Life 06:05 Behavioral Finance and the Ziegarnik Effect 08:20 Using the Ziegarnik Effect to Achieve Financial Goals 12:14 The Ziegarnik Effect and Investment Behavior 16:32 Conclusion and Final Thoughts Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…
Building a Flexibility Fund: The Key to Financial Independence | Bryan Foltice Behavioral Finance Podcast Welcome to the Bryan Foltice Behavioral Finance Podcast! In this episode, Dr. Bryan Foltice discusses the importance of the Flexibility Fund as a crucial step in achieving financial independence. He shares personal anecdotes and practical advice on setting up this fund, which serves as a safety net for unexpected expenses and provides financial freedom. Learn how to prioritize savings goals, manage debt, and create a financial buffer that opens doors to future opportunities. Don't miss out on tips to turn your financial life around and build a secure and flexible future. 00:00 Introduction to the Podcast 00:25 Introducing the Flexibility Fund 00:58 The Importance of the Murphy's Fund 02:00 Steps to Eliminate Debt 02:52 Building the Flexibility Fund 03:54 Personal Journey and Financial Turnaround 05:08 The Daniel Fast and Its Impact 06:52 Achieving Financial Independence 10:18 Setting Up Your Flexibility Fund 13:09 Investing Your Flexibility Fund 15:17 Maintaining Financial Discipline 16:57 Conclusion and Listener Engagement Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…
Achieve Your First $1,000: Behavioral Finance Tips with Dr. Bryan Foltice Welcome to the first episode of the Bryan Foltice Behavioral Finance Podcast! Dr. Bryan Foltice dives into the world of behavioral finance and personal milestones, focusing on how to save your first $1,000. Whether you're starting from zero or already have some savings, this episode is packed with actionable strategies to help you achieve this initial goal. Dr. Foltice also introduces the 'Money Strong' program and the importance of having a financial cushion to mitigate unforeseen expenses. Tune in for practical tips on cutting expenses, boosting income, and setting up effective savings plans. 00:00 Introduction to the Podcast 00:24 The Importance of Saving Your First $1000 03:09 Understanding the Murphy Fund 07:17 Practical Tips for Saving $1000 12:34 Where to Keep Your Savings 15:29 Conclusion and Next Steps Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…
Understanding the Winner's Curse: How Overpaying Leads to Losses Welcome to the Bryan Foltice Behavioral Finance Podcast! In this episode, host Dr. Bryan Foltice delves into the intriguing phenomenon of the winner's curse—a situation where winning can actually mean losing. By examining real-world examples ranging from eBay auctions and trading card businesses to sports contracts and major acquisitions, Dr. Foltice explains how overconfidence, emotional decision-making, and asymmetric information often lead to overpaying. He also shares practical strategies to recognize and avoid falling victim to this financial pitfall. Tune in for valuable insights on making smarter, more informed financial decisions. 00:00 Introduction to the Brian Foltis Behavioral Finance Podcast 00:27 Understanding the Winner's Curse 01:36 Personal Experience with eBay Auctions 04:47 Emotional Decision Making in Auctions 05:37 The Loser's Curse in Sports Contracts 07:28 Overconfidence and Emotional Decision Making 10:29 Examples of the Winner's Curse in Business 14:12 Avoiding the Winner's Curse 17:20 Conclusion and Listener Engagement Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…
Unmasking the Super Bowl Effect in Behavioral Finance | Bryan Foltice Welcome to another episode of the Bryan Foltice Behavioral Finance Podcast! This week, coinciding with Super Bowl week, Dr. Bryan Foltice dives into the intriguing 'Super Bowl effect'—a theory that links Super Bowl outcomes with stock market performance. Originating from a 1978 New York Times article by Leonard Kopet, the theory suggests that an AFC team win signals a market decline, while an NFC team win predicts a bull run. Bryan scrutinizes this pattern recognition, its historical accuracy, and the cognitive biases that entice us to believe in such coincidences. He concludes by emphasizing the importance of disciplined, long-term investment strategies over superstitious financial decisions. Tune in for an enlightening discussion and don't forget to subscribe! 00:00 Introduction to the Podcast 00:42 The Super Bowl Effect Explained 02:00 Historical Analysis of the Super Bowl Effect 04:33 Behavioral Finance and Cognitive Biases 07:33 Correlation vs. Causation 10:00 Other Market Indicators and Theories 12:49 Final Thoughts and Advice 13:15 Closing Remarks Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…
Smart Goal Setting in Personal Finance for 2025: A Year in Review and Planning Ahead In this episode of the Bryan Foltice Behavioral Finance Podcast, Dr. Bryan Foltice discusses personal finance goal setting for the new year, reviewing the events of 2024. He emphasizes the importance of SMART goals (Specific, Measurable, Achievable, Relevant, Time-bound) and shares personal milestones, such as paying off student loans and improving financial habits. The episode focuses on helping listeners craft well-defined financial objectives to make 2025 a prosperous and successful year. Dr. Foltice also offers resources available on his website and Udemy courses. 00:00 Introduction to the Podcast 00:50 Setting Personal Finance Goals for 2025 02:40 Reflecting on Past Financial Decisions 03:49 Mandy's Career and Financial Journey 06:49 Combining Finances in Marriage 11:53 Achieving Financial Milestones 13:18 SMART Goal Setting Explained 19:17 Conclusion and Final Thoughts Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…
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Money Strong Personal Finance Podcast
Understanding the Mere Urgency Effect in Behavioral Finance In this episode of the Bryan Foltice Behavioral Finance Podcast, Dr. Bryan Foltice explores the Mere Urgency Effect, a psychological phenomenon where people prioritize urgent tasks over important ones, even if the latter offers greater rewards. He delves into recent studies from the Journal of Consumer Research by professors from Carnegie Mellon, Florida, and Chicago. Bryan explains the practical implications of this effect on productivity and financial planning, offering actionable advice on how to better categorize and prioritize tasks to achieve financial and personal goals. He also provides resources for further learning and tools for effective financial planning available on his website and Udemy. Listeners are encouraged to subscribe and engage with the podcast for more insights into behavioral finance. 00:00 Introduction and Podcast Overview 00:23 Promotional Announcements and Resources 01:27 Understanding the Mere Urgency Effect 02:14 Real-Life Examples of Urgency vs. Importance 07:12 Implications for Productivity and Finance 11:08 Strategies to Outsmart the Urgency Effect 16:19 Conclusion and Final Thoughts Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…
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Money Strong Personal Finance Podcast
Goal Setting and Financial Independence for 2025 In this episode of the Bryan Foltice Behavioral Finance Podcast, Dr. Bryan Foltice helps listeners kick off 2025 with personal finance goal setting. Discussing SMART goals, he outlines the importance of setting Specific, Measurable, Achievable, Relevant, and Time-bound objectives. Bryan shares his own journey with his wife Mandi, tackling debt and prioritizing investments, and encourages listeners to reflect on their financial progress over the past year to set impactful goals for the new year. Tune in for insights on achieving financial independence and making informed decisions with your money. 00:00 Introduction to the Podcast 00:50 Setting Personal Finance Goals for 2025 02:40 Reflecting on Past Financial Decisions 03:49 Mandi's Career and Financial Journey 06:49 Combining Finances in Marriage 11:53 Achieving Financial Milestones 13:18 SMART Goal Setting Explained 19:17 Conclusion and Final Thoughts Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…
Mastering Time Management and Financial Decisions with Pareto's Principle In this episode of the Bryan Foltice Behavioral Finance Podcast, Dr. Foltice returns after a hiatus to discuss the challenges of time management and financial decision-making, using Pareto's Principle (the 80/20 rule) as a guide. He shares his personal experiences from a demanding fall semester, reflects on the importance of focusing on high-impact activities, and offers actionable steps to improve time and financial management for the upcoming year. Dr. Foltice also emphasizes the benefits of passive index investing and minimizing distractions like email and smartphones to enhance productivity and financial well-being. 00:00 Introduction to the Podcast 00:44 New Year, New Topics: Time Management and Behavioral Finance 01:31 Personal Experiences and Challenges 06:02 Understanding Pareto's Principle 10:35 Applying Pareto's Principle to Time Management 12:33 Financial Decisions and Investments 15:01 Actionable Steps for Improvement 19:46 Conclusion and Final Thoughts Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…
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Money Strong Personal Finance Podcast
Introducing the Money Strong Program: Empowering Financial Literacy at Butler University In this episode, Bryan introduces his friend and partner, Randy Brown, as they unveil the Money Strong Program at Butler University. Together, they share their journey in developing the program, emphasizing the importance of financial literacy for students. Randy shares his personal background in HR and his transition to a career mentor at Butler, while Bryan explains the personal experiences that fueled his passion for financial literacy. The duo discusses the steps they've taken to launch the program, the challenges they've faced, and the incredible support they've received from the Butler community. They highlight the key components of the program, including large group 'Money Talks' sessions, one-on-one financial advice from professionals, and the creation of a new Personal Finance Club. Join Bryan and Randy as they share their mission to help students navigate their financial futures more confidently. 00:00 Introduction and Guest Welcome 00:54 Randy Brown's Background and Career Journey 03:25 Transition to Butler University 06:48 Challenges and Insights in Career Mentoring 10:44 The Birth of the Financial Literacy Initiative 17:52 Building the Financial Literacy Program 27:01 Launching the Personal Finance Club 30:35 Future Plans and Call to Action Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…
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Money Strong Personal Finance Podcast
The Untold Truths of Starting Your Own Business | Bryan Foltice Behavioral Finance Podcast Welcome to the Bryan Foltice Behavioral Finance Podcast! In this episode, Bryan shares invaluable insights on starting your own business, focusing on three often overlooked aspects: the overwhelming responsibility, the isolation, and the slow growth. Drawing from his own experiences, Bryan provides encouragement and practical advice to help you navigate these challenges and succeed in your entrepreneurial journey. Plus, discover how these obstacles can lead to personal growth and long-term success. Don't miss out on this candid and inspirational discussion! 00:00 Introduction to the Podcast 00:55 The Hidden Challenges of Starting a Business 02:19 It's All On You: The Reality of Running a Startup 05:21 The Isolation and Loneliness of Entrepreneurship 07:56 Facing the Harsh Reality of Results 09:37 Turning Challenges into Opportunities 10:42 Encouragement and Final Thoughts 12:21 Personal Reflections and Growth 19:17 Conclusion and Available Resources Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…
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Money Strong Personal Finance Podcast
Understanding and Overcoming the Planning Fallacy | Bryan Foltice Behavioral Finance Podcast In this episode of the Bryan Foltice Behavioral Finance Podcast, host Bryan Foltice discusses the 'planning fallacy,' a common cognitive bias where individuals systematically underestimate the time, cost, and risks associated with tasks. Originating from the work of Daniel Kahneman and Amos Tversky in 1979, this fallacy affects everyone, including academics and professionals. Bryan shares his personal experiences and insights on avoiding the pitfalls of the planning fallacy, emphasizing the importance of realistic time estimations, proper budgeting, and anticipation of potential risks to improve productivity and financial planning. Tune in to learn practical strategies to combat this common bias and enhance your decision-making skills. 00:00 Introduction to the Planning Fallacy 00:49 Personal Experience with the Planning Fallacy 01:47 Origins and Explanation of the Planning Fallacy 02:33 Impact of the Planning Fallacy in Academia 04:14 Optimism and Miscalibration 05:09 Real-Life Example: Summer Project 07:55 Budgeting and Financial Implications 10:13 Evaluating Risk and Setting Expectations 11:43 Strategies to Overcome the Planning Fallacy 14:53 Conclusion and Offerings Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…
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Money Strong Personal Finance Podcast
In this episode of the Bryan Foltice Behavioral Finance podcast, Bryan discusses the recent market volatility linked to the carry trade, a complex financial strategy involving borrowing in low-interest currencies like the Japanese yen to invest in higher-yielding assets. Using current market data, he provides an in-depth explanation of how fluctuations in currency values impact these trades and their broader implications on equity and bond markets. The episode aims to educate listeners on the recent disturbances caused by potential interest rate hikes in Japan and how this phenomenon affects global financial markets. 00:00 Introduction to the Podcast and Market Volatility 00:59 Understanding the Carry Trade 02:13 Example of the Carry Trade with Japanese Yen 03:46 Impact of Currency Rates on the Carry Trade 08:23 Recent Market Reactions and Risks 11:33 Conclusion and Final Thoughts Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…
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Money Strong Personal Finance Podcast
Join Dr. Bryan Foltice in this episode of the Bryan Foltice Behavioral Finance Podcast as he dives into the concept of the bias blind spot. Discover how most of us perceive ourselves as less biased than others and the psychological mechanisms behind this phenomenon. Dr. Foltice discusses the impact of this bias on decision-making and offers personal insights and examples of common biases in daily life. Additionally, get an exciting update on his new mini-course on behavioral finance. Tune in for a thought-provoking discussion aimed at increasing self-awareness and understanding in the realm of personal finance. References: The Bias Blind Spot: Perceptions of Bias in Self Versus Others - https://www.sakkyndig.com/psykologi/artvit/pronin2015.pdf 00:00 Introduction to the Podcast 00:29 Unveiling the Bias Blind Spot 02:54 Behavioral Finance Course Announcement 05:18 Understanding the Bias Blind Spot 10:06 Real-World Examples of Bias 18:08 Self-Serving Bias and Cognitive Dissonance 22:10 Overcoming Bias and Final Thoughts Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…
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Money Strong Personal Finance Podcast
Active vs Passive Management: Analyzing Mutual Fund Performance In this episode of the Bryan Foltice Behavioral Finance Podcast, Dr. Bryan Foltice delves into the debate between actively managed mutual funds and their passive counterparts. He discusses market efficiency, the pitfalls of actively managed funds, and the significant impact of expenses and front-loaded fees on investment returns. Foltice provides evidence for and against active management, compares historical performances, and explains the difference between arithmetic and geometric returns. Despite acknowledging the allure of certain actively managed funds, he advocates for index investing based on current data and research. Join the conversation and explore the intricacies of making informed investment decisions to achieve financial success. 00:00 Introduction to the Podcast 00:26 Actively Managed Mutual Funds vs. Alternatives 01:04 Reflections on Previous Episode and Dave Ramsey's Critique 04:35 Market Efficiency and Behavioral Finance 06:28 Personal Investment Strategies 07:36 Active vs. Passive Management Debate 09:45 Analyzing Historical Fund Performance 14:36 The Impact of Fees on Investment Returns 21:04 Final Thoughts and Listener Engagement 21:51 Closing Remarks Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…
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Money Strong Personal Finance Podcast
In this episode of the Bryan Foltice Behavioral Finance Podcast, Dr. Bryan Foltice discusses the controversy surrounding Dave Ramsey's recommendation of an 8% retirement withdrawal rate. He critiques Ramsey's approach, highlighting its potential risks and compares it with the more conservative 4% rate commonly advised by financial planners. Dr. Foltice delves into the importance of considering sequence risk and advocates for a balanced, flexible strategy to ensure financial stability throughout retirement. The episode aims to provide financial insights and foster informed decision-making among listeners. 00:00 Introduction to the Podcast 00:35 Critique of Dave Ramsey's Advice 01:41 Personal Experience with Financial Peace 03:58 Long-term Financial Planning 06:23 The 4% Rule and Retirement Puzzle 14:28 Sequence of Returns Risk 19:49 Finding a Middle Ground 22:09 Conclusion and Next Steps References Recap on Dave Ramsey's 8% Rule - https://www.mcleanam.com/dave-ramseys-8-withdrawal-rate/ The Updated Trinity Study - https://thepoorswiss.com/updated-trinity-study/ Sequence Risk Calculator Link - https://bryanfoltice.com/resources Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…
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Money Strong Personal Finance Podcast
In this episode of the Bryan Foltice Behavioral Finance Podcast, Dr. Bryan Foltice delves into foundational concepts of behavioral finance. He revisits prospect theory, emphasizing our differing sensitivities to gains and losses, and introduces the disposition effect - our tendency to sell winning stocks too early and hold onto losing stocks too long. Dr. Foltice shares personal anecdotes and research findings, including a study on the efficacy of trailing stop loss orders in minimizing the disposition effect and improving investment strategies. Tune in for more insights and practical advice on making smarter financial decisions. 00:00 Introduction to the Podcast 00:23 Overview of Today's Topic 01:40 Understanding Prospect Theory 04:30 The Disposition Effect Explained 07:35 Personal Anecdotes and Lessons 08:41 Research and Strategies to Mitigate the Disposition Effect 11:26 Practical Application of Trailing Stop Losses 14:17 Conclusion and Final Thoughts References: "Are Investors Reluctant to Realize Their Losses?" Terrance O'Dean Journal of Finance https://faculty.haas.berkeley.edu/odean/papers%20current%20versions/areinvestorsreluctant.pdf "Exploring the Effectiveness of Trailing-Stop-Loss Strategies for Individual Investors" by Steve Dolvin and Bryan Foltice - Journal of Beta Investment Strategies Journal. https://www.pm-research.com/content/iijindinv/14/1/29 Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…
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Money Strong Personal Finance Podcast
Behavioral Finance Explains: Why Americans Misunderstand the Economy In this episode of the Bryan Foltice Behavioral Finance Podcast, Dr. Bryan Foltice discusses a U.S. survey revealing widespread economic misconceptions among Americans. Key findings show that many Americans believe the economy is shrinking, the stock market is down, and unemployment is at a high, contrary to actual data showing economic growth, stock market highs, and low unemployment rates. Foltice explores the reasons behind these misconceptions, including a lack of stock market participation and the impact of confirmation bias, and emphasizes the potential political motivations behind misinformation. He also raises concerns about future economic and real estate market stability given the high percentage of people living paycheck to paycheck. 00:00 Introduction to the Podcast 01:27 Survey Findings on American Economic Perceptions 03:09 Disconnection Between Perception and Reality 05:45 Living Paycheck to Paycheck in America 08:29 Impact of Inflation and Interest Rates 11:09 Concerns About Unemployment and Future Recession 14:22 Conclusion and Final Thoughts Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…
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Money Strong Personal Finance Podcast
Retiring Early: Is the FIRE Community the Right Path? In this episode of the Bryan Foltice Behavioral Finance Podcast, Dr. Bryan Foltice delves into the FIRE (Financial Independence, Retire Early) movement. He discusses the key principles behind FIRE, including the idea of saving up to 70% of annual income to retire early and live off small withdrawals. Dr. Foltice evaluates the merits and challenges of the FIRE lifestyle, emphasizing the importance of having a purpose in both one's career and retirement. He addresses the potential pitfalls of extreme frugality and explores the balance between enjoying the present and saving for the future. Listeners are encouraged to find their own path to financial independence while maintaining a fulfilling and purposeful life. 00:00 Introduction to the Podcast 00:24 Understanding the FIRE Movement 01:52 Pros and Cons of the FIRE Lifestyle 05:30 Challenges Faced by Law Enforcement 08:43 Balancing Financial Goals and Life Purpose 11:57 Personal Insights and Financial Strategies 14:37 Conclusion and Final Thoughts Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…
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Money Strong Personal Finance Podcast
In this episode of the Brtan Foltice Behavioral Finance Podcast, Dr. Brtan Foltice delves into the intriguing world of meme stocks, such as GameStop and AMC Entertainment, and their impact on investor behavior. He introduces key concepts of behavioral finance including noise trader risk and the Greater Fool Theory, explaining how these factors drive the stock prices far beyond their fundamental value. Bryan demonstrates how meme stock phenomena bring to light irrational aspects of investor behavior, fueled by social media influences and group dynamics rather than financial fundamentals. He also shares insights from his experiences teaching corporate finance, emphasizing the learning curve and sophistication investors gain through these market anomalies. The episode concludes with an encouragement for listeners to delve deeper into behavioral finance, suggesting it as an elective for finance majors and teasing an upcoming course package on the subject. 00:00 Introduction to Behavioral Finance and Meme Stocks 01:21 Summer Teaching and Transition to Online Classes 03:10 Diving Deep into Meme Stocks Phenomenon 07:38 Behavioral Finance Theories in Action: Noise Trader Risk and Greater Fool Theory 15:57 Learning from the Meme Stock Frenzy: A Shift in Investor Behavior 18:26 Wrapping Up Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…
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