Doug and Dusti are back for Part 2 on cognitive biases and how they shape our financial decisions.
- How a scarcity mindset can hold you back
- Desire to be like everyone else
- Decision paralysis
- Default bias
- Holding onto bad investments
- Are we more motivated when we’re close to reaching a goal?
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2:50 Having a scarcity mindset
8:14 The ”what the hell” effect
13: 35 Social proof and the desire to be like other people
19:08 The cost of friction and decision paralysis
25:34 Default bias
37:20 Why we hold on to bad investments
45: 18 Getting more motivated at the finish line
55:12 Our favorite desserts