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Transcript

Taking risks in uncertain times - Lessons from a behavioral finance expert

In episode three of Stuck we get vulnerable about money. And there's a (free) bonus offer inside if you're ready to get vulnerable too.

Who better to help if you’re wondering if the new job market is for you than a man that’s trained more than a thousand financial advisors? This week we dive into the money side with behavioral finance expert Brian Pasalic.

Frankly, I like Brian's take on our relationship with money decisions. I don’t manage money with spreadsheets and financial models, so I always find it off-putting if that’s the only option on the table. For me, the most impactful thing I learned early on was about how we human people make decisions in the first place.

Highlights for me:

  • Your financial decision-making style likely falls into one of four patterns. Jamal and I took Brian's assessment and we open up about why we show these patterns

  • Most of us think we need to "fix" our financial behaviors. Brian suggests we're better off understanding and working with our natural tendencies (“you aren’t broken, can’t be fixed”

  • The hardest part isn't the math (well don’t tell my husband) - it's giving ourselves permission to make changes that affect our lifestyle

  • When facing a big decision, consider four levers: earn more, spend less, delay, or change your goals

Special offer: Brian has generously offered to provide his financial behavior assessment to the first 10 listeners who email us at stuck@213studios.com. Having taken it myself, I can say it's illuminating stuff.

Want more insights? Listen to the full episode on Apple Podcasts, Spotify, or YouTube.

Next Week:

Coming up next week: How to Talk to Your Partner About Money with President of the Financial Therapy Association and author of Feel Good Finance, Aja Evans.

Aja Evans - So Money® Podcast

See you Tuesday for Future Work.

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