New research has found a few helpful tips we can use when making financial decisions. When it comes to making decisions about money, many of us go running in the opposite direction. According to science, we do this for a few reasons: because we have too many choices, we're happy to defer the decision to a partner, or we don't feel we have the expertise to make the decision.Read More
We all have cognitive biases -- errors or faults in the shortcuts our brains take when processing information and making decisions.
Understanding these common biases, especially if they are particularly common in your thought patterns, can help you develop strategies to minimize bias and improve the quality of your decisions.
In this article, we’ll tackle gambler’s fallacy, which sometimes sounds like this: “I’ve had so much bad luck lately that things are bound to turn around.”Read More