Why is it so hard to manage money? (2 minutes)

Answer: TOO MUCH INFORMATION.

We know that we need to

Track our spending

Live below our means

Follow research that tells us to invest in low-cost index funds and let our money grow for 20-40 years.

But we don't.

We don't track our spending

We spend more than we realize because we don't track our spending

We debate about which stock is the best investment and how well the economy is doing without taking actual action.

We listen to stories or anecdotal accounts of quick to rich and blindly follow those paths. (And 99% of the time, we end up losing money, resources, and time!)

We hate the word "save" when saving can be: cutting costs, earning more, and optimizing spending.

We do not do what we are supposed to do because of our psychology.

Too much information and everyone is trying to sell you the latest secret on the hottest stock for 2020, the best fastest, quickest way to make 1 million dollars a month.

In the end, we end up not doing anything.

In behavioral economics, this is called choice paralysis.

Your brain has been hijacked by marketers, salespeople, tech companies, and the easy and convenient methods of buying stuff that we don't need.

Think about how much stuff do you have from amazon that you thought you NEEDED it, but now it's just one of those things that you take with you from apartment to apartment.

HERE IS THE TRUTH

Doing nothing is the worst choice you can make in personal finance.

If you do not manage your money, someone else will.

Investing early is the best thing you can do.

Complaining about it being not possible will not change your situation.

I have created an online academy with a 6-week easy to understand course on everything you need to know about personal finance.

Join today: https://www.unhackmylife.com/behavioral-finance-course