Negativity bias, a cognitive phenomenon where negative experiences have a greater impact on our thoughts and emotions than positive ones, plays a significant role in influencing human behavior, including financial decision-making. This article explores how negativity bias can affect individuals' financial choices, leading to suboptimal outcomes and potential long-term consequences.
Credit cards: A minimum payment might help you in the short term but could be one of your most expensive decisions.
Want to be your credit card company’s favorite customer? Just max out your card’s limit, agree to pay interest at a rate of 18 percent to 25 percent, and make only the minimum payment each month.
In addition to the flowers, the chocolate, and the good champagne, remember these lasting financial planning ways to say I Love You every day to your dearest Valentine:
Follow the Golden Rule
Be as honest and accountable to your mate as you would like them to be with you about spending decisions and preferences.
To make your retirement years truly golden, understand what may be coming your way. Many of us look forward to retirement as the reward for a lifetime of hard work. While the post-work years can truly be golden for those who plan for them, many retirees are caught off guard by the facts of their new life.