Behavioral-Based Financial Education: Bryan Foltice’s 6-Week One-Credit Class That Changes Money Habits

In this episode of the Bryan Foltice Behavioral Finance Podcast, we explore the practical, behavioral-based interventions behind the encouraging results from Bryan’s one-credit and three-credit personal finance classes. We discuss how the one-credit course is structured into six weekly meetings that move quickly from personal money memories and mindset-setting to paychecks (taxes, insurance, and employer retirement match), then into monthly financial planning, expense reflection, and either student-loan payoff strategies (snowball vs. avalanche) or net worth tracking and SMART goals. We also cover a high-level, engaging introduction to investing, risk/reward, diversification, and retirement planning using simple asset-allocation rules and ETFs, ending with a “Foltice Lifetime Guarantee” to support students as lifelong financial learners.

00:00 Podcast Welcome
00:26 Why Behavioral Education Works
02:23 Course Structure Overview
03:52 Money Memories Mindset
07:03 Paychecks Taxes Reality
10:33 Build Your Monthly Plan
14:25 Debt Payoff Or Net Worth
17:10 Investing Risk Reward Basics
18:43 Retirement Plan Asset Mix
23:08 Commencement Lifetime Guarantee
24:49 Keep It Simple Repeat
26:20 Wrap Up And Next Steps
27:05 Outro Subscribe

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1-Credit vs 3-Credit Personal Finance: What Actually Changes Student Behavior? | Bryan Foltice

In this episode of the Bryan Foltice Behavioral Finance Podcast, we explore post-class survey results comparing a one-credit Financial Well-Being course with a three-credit Personal Finance course at Butler, using 102 student responses across business/non-business majors and online vs face-to-face formats. 

We discuss high engagement and applicability in both courses, strong increases in preparedness, and widespread intent to change financial behaviors immediately (84% in the one-credit course vs 80% in the three-credit course), along with a surprising edge in reported confidence for the one-credit course (62% vs 48%). We examine why “less may be more,” emphasizing stripped-down, actionable, behavior-based teaching over information-heavy financial literacy, noting research that knowledge alone rarely shifts behavior, and we reflect on improving course design, especially making the three-credit class more engaging and practical.

00:00 Podcast Welcome
00:26 New Course Experiment
03:01 Survey Goals
04:30 Who Took The Classes
05:38 Engagement To Behavior
07:33 Confidence Surprise
09:05 Major Differences
10:23 Online Class Results
11:33 Why Less Is More
13:39 Behavioral Finance Evidence
17:22 Improving The Curriculum
20:05 Final Takeaways
21:32 Outro And Subscribe

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Using AI Effectively: Pairing the Machine With Your Own Brainpower

In this episode, Bryan Foltice explores how AI can be used really effectively only when it’s coupled with our own brain power. We discuss how conversations about AI often lead back to this core idea, and why it helps to name and formalize a continuum for where we and others fall in our attitudes toward AI. We explore the value of understanding prior research on these perspectives, building awareness of where others might be—like blind rejection—and how we can help move toward a more skeptical, exploratory stance that still involves dipping a toe into using the technology.

00:00 AI Needs Brainpower
00:39 Mapping Adoption Spectrum
00:46 From Rejection to Skepticism
00:59 Putting AI to Work
01:01 Closing Thoughts

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Automation Bias in Investing: When to Trust (and Challenge) AI | Bryan Foltice Behavioral Finance Podcast

In this episode of the Bryan Foltice Behavioral Finance Podcast, we explore automation bias—the tendency to use technology as a mental shortcut in place of vigilant information seeking and processing—using examples like GPS routes and copying ChatGPT answers without thinking. We discuss early research from the 1990s on pilots and automated aircraft, outlining two error types: omission errors (failing to act when automation misses a problem) and commission errors (following a bad automated recommendation despite contradictory information). We connect automation bias to Type 1 vs. Type 2 thinking, arguing that as tasks become more complex and consequences rise—especially in investing, retirement, tax, and estate planning—we need a middle ground: use AI’s benefits while actively verifying, prompting, and challenging outputs. We close by previewing next episode’s topic: algorithm aversion.

00:00 Podcast Welcome
00:26 Automation Bias Defined
02:19 Origins in Aviation
03:47 Omission vs Commission
05:39 Why We Love Automation
08:04 GPS Jog Gone Wrong
11:35 Type Two Thinking Trigger
13:07 Finding the AI Middle Ground
16:08 Prompting and Staying Critical
17:57 Algorithm Aversion Teaser
19:37 Wrap Up and Next Episode

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In this episode, we continue the discussion on the diversification heuristic, noting people are naturally good at diversifying but can mistakenly believe they’re diversified when holdings overlap. 

We explores when it might make sense not to diversify, inspired by millionaire profiles that often focus heavily on one area such as real estate, which can be risky when leverage is involved. 

Here we propose a framework: Diversify when you’re uncertain, but consider concentrating when you have special knowledge within a “circle of competence,” echoing Warren Buffett’s view that diversification protects against ignorance. 

The challenge is knowing whether you’re truly specialized, since people are poor judges of their abilities due to overconfidence and the Dunning-Kruger effect. We outline Dunning-Kruger’s four stages and suggests using feedback and time/experience to better gauge competence before concentrating.

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In this episode, Dr. Bryan Foltice explains the diversification heuristic as a mental shortcut that often leads to smarter choices but can backfire in the wrong context. 

Using a buffet example and evolutionary reasoning, he shows how people naturally try a little of everything to avoid regret. 

He reviews research on sequential versus simultaneous choice: Simonson (1990) found far more variety when people choose for multiple weeks at once, and Read & Loewenstein (1999) showed children diversify more when choosing two candies together. 

In finance, Benartzi & Thaler (2001) and TIAA-CREF data illustrate “1/N” allocation, including Markowitz’s regret-minimizing 50/50 stock-bond split, which can ignore true risk tolerance. 

Foltice highlights pitfalls like overlapping funds (SPY vs. VOO), buying unfamiliar assets (e.g., crypto) for “diversification,” and over-diversifying time, concluding that awareness helps clients and individuals apply diversification appropriately.

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In this episode, Dr. Bryan Foltice introduces behavioral finance using a trading-card example where three people buy the same $500 Patrick Mahomes card but act differently: 

One sells it back to buy unopened boxes (the gambler), One files it into a personal collection (the collector), and one lists it for profit (the investor/flipper). 

He traces how trading cards evolved from childhood collectibles to the mass-produced “Junk Wax Era,” then surged again during the pandemic, with the industry reportedly at $50 billion in 2026 and projected to reach $90 billion. 

Foltice explains key behavioral concepts behind each type—overconfidence, availability bias, and variable rewards for gamblers; nostalgia, endowment effect, and identity for collectors; and mispricing, grading dynamics, herding, recency bias, and overconfidence for investors—arguing that identical assets can serve different psychological utilities.

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We're back BABY!!! Dr. Bryan Foltice returns to relaunch The Bryan Foltice Behavioral Finance Podcast and refocus it on true behavioral finance rather than generic personal finance content. 

He explains how his work at Butler University, building Money Strong programming, and serving as department chair pulled him away, but with that role now over he’s energized to ramp the show back up and eventually pursue full professor. 

The podcast will examine why people fail to follow simple financial advice like spending less than they earn, using behavioral finance—defined as the study of how psychology affects investors and financial markets—to bridge the gap between academic research and practical application. 

Episodes will include bias-focused education, research insights (including around AI), market current events, and potential guests, and he invites listeners to submit topic ideas.

00:00 Welcome Back Intro

00:31 Host Background Reset

01:17 Money Strong To Now

03:14 Why Behavioral Finance

04:21 Personal Finance Gap

05:38 Behavioral Finance Defined

06:12 Markets And Current Events

06:38 Bridge Academia And Real Life

08:36 What Youll Learn Here

09:24 Community And Guests

10:28 Wrap Up And Subscribe

11:38 Outro Thanks

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Welcome to the Money Strong Monday morning broadcast with Dr. Bryan Foltice! 

In this episode, we break format to discuss the latest economic updates, including the state of the S&P 500, inflation rates, and interest rates, and their impacts. Dr. Foltice then dives deep into this episode's primary topic—NIL (Name, Image, and Likeness) money and its significant effect on student-athletes in U.S. colleges. 

Learn about the various tiers of NIL compensation, financial challenges, and opportunities athletes face, and the importance of providing the right support and education to help them navigate this new landscape. Also, get a sneak peek into Dr. Foltice's upcoming fall courses and plans for supporting student-athletes with money management and financial wellbeing.

00:00 Introduction and Today's Agenda
00:59 Economic Update: Market Trends and Federal Reserve Policies
06:57 Preparing for the Upcoming Academic Year
08:29 Deep Dive: NIL Money in College Athletics
15:34 Understanding the Tiers of NIL Earnings
26:23 Conclusion and Upcoming Discussions

Check out www.moneystrong.net and www.bryanfoltice.com for more information. 

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How I Overspent $3300 in June & What I Learned From It | Money Strong Podcast

In this episode of the Money Strong Podcast, Dr. Bryan Foltice shares his real-life experience of going over his monthly budget by $3300 in June. He provides insights into how unexpected expenses and impulsive spending can derail financial plans. Learn about his approach to dealing with the aftermath and how he aims to throttle back, simplify life, and regain control over his finances. Follow along as Dr. Foltice wraps up his series on financial well-being, emphasizing the importance of mindset in managing money. Don't miss his tips on how to bounce back from financial mistakes and build a more stable future. Remember to like, comment, and subscribe!

00:00 Introduction and Episode Overview
03:11 A Month of Overspending: My June Story
05:01 The Financial Impact of Summer Activities
08:37 Unexpected Expenses and Financial Missteps
12:44 The Day of Reckoning: Realizing the Overspend
16:04 Strategies to Regain Financial Control
17:30 Reflecting on the Root Causes of Overspending
21:03 Simplifying Life for Better Financial Health
23:41 Mid-July Update: Progress and Optimism
26:45 Conclusion and Final Thoughts

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Tackling Financial Anxiety and Shame: Steps to Overcome

Welcome back! In this episode, we delve into the often overlooked aspects of financial well-being—financial anxiety and shame. Dr. Bryan Foltice explains how money is more than just numbers; it's tied to our emotions and past experiences. Using references from the show 'Big Mouth,' he illustrates how anxiety and shame manifest, especially in finances. Dr. Foltice provides actionable steps to overcome these feelings: identifying triggers, removing judgment, taking small steps, building habits, and seeking support if needed. Join us in breaking down the stigma around financial struggles and improving your financial confidence. Don't miss next week's episode, where Dr. Foltice shares his own financial mistakes and how he's dealing with them.

00:00 Introduction and Recap
01:31 Understanding Financial Anxiety and Shame
04:15 The Impact of Financial Shame on Students
07:30 Steps to Overcome Financial Anxiety and Shame
12:47 Seeking Support and Resources
14:21 Conclusion and Upcoming Topics

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Unpacking Money Beliefs: Key to Financial Wellbeing

Welcome to the Money Strong Podcast hosted by Dr. Bryan Foltice, where we dive deep into the psychology behind our financial decision-making. In this episode, we explore the hidden beliefs about money that stem from our upbringing, culture, media, and personal experiences. 

Dr. Foltice discusses common money beliefs such as money avoidance, money worship, and money vigilance, and how these beliefs impact our financial behaviors. Learn how to identify and shift these beliefs through awareness, questioning, and rewiring, to improve your financial wellbeing. Don't miss this insightful conversation designed to help you build confidence and take control of your financial future.

00:00 Introduction to the Money Strong Podcast
00:49 Understanding Money Beliefs
01:46 Types of Money Beliefs
05:14 Impact of Money Beliefs on Behavior
08:00 Common Money Beliefs and Their Effects
17:03 Shifting and Rewiring Money Beliefs
20:26 Conclusion and Final Thoughts

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Understanding and Changing Your Financial Behavior | Money Strong Podcast

Join Dr. Bryan Foltice on the Money Strong Podcast as he dives into the psychology behind financial decision-making. Discover why knowing the right financial behaviors isn't enough and learn how to change your habits for the better. In this episode, 

Dr. Foltice discusses the influence of habits, emotions, and environment on financial behavior and introduces a five-step process to foster lasting change. He also shares personal insights and encourages listeners to start small, celebrate milestones, and prioritize progress over perfection. Tune in for actionable tips to improve your financial wellbeing and gain control over your money.

00:00 Introduction to the Money Strong Podcast
00:49 Understanding Financial Decision Making
01:53 The Challenge of Changing Financial Behaviors
02:37 Identifying and Changing Financial Habits
05:49 The Five-Step Process to Behavior Change
14:51 Replacing and Automating Positive Behaviors
17:19 Tracking Progress and Celebrating Milestones
19:17 Conclusion and Final Thoughts

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Unlocking Your Financial Potential: Understanding Money Memories & Motivations

Welcome to the Money Strong Podcast with Dr. Bryan Foltice, dedicated to helping you gain confidence and control over your finances. In this episode, we explore the deep-seated impact of 'money memories' from childhood and how they shape our financial behaviors today. 

Dr. Foltice breaks down different money motivations including security, freedom, status, avoiding, giving, and optimizing, explaining how these motivations influence financial decisions. Learn how self-awareness can lead to better financial habits and decisions. Tune in to start transforming your financial mindset and build a healthier relationship with money.

00:00 Introduction to Money Strong Podcast
00:49 Exploring Money Memories
07:58 Understanding Money Motivations
15:18 Conclusion and Final Thoughts

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Understanding Financial Wellbeing: Key Components and Why It Matters

Welcome to the Money Strong Podcast, where Dr. Bryan Foltice helps listeners build confidence and control over their finances. 

In this episode, Dr. Foltice explores the true meaning of financial wellbeing, breaking down its components such as security, confidence, and control. 

He discusses the importance of not fixating on a specific financial 'magic number' and delves into the concept of financial wellbeing as defined by the Consumer Financial Protection Bureau (CFPB), including living with a margin between income and expenses, the capacity to absorb financial shocks, and progress towards financial goals. 

Additionally, Dr. Foltice examines the impact of financial wellbeing on various life aspects like mental health, physical fitness, life fulfillment, relationships, and having fun. Stay tuned to understand your money motivations in the next episode.

00:00 Introduction to the Money Strong Podcast
00:42 Defining Financial Wellbeing
02:36 Components of Financial Wellbeing
04:50 Steps to Achieve Financial Wellbeing
08:03 The Impact of Financial Wellbeing on Life
08:25 The Six Fs of Life and Finance
15:42 Conclusion and Next Steps

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Understanding Ambiguity Aversion: How Uncertainty Affects Financial Decisions

In this episode of the Money Strong podcast, hosted by Dr. Bryan Foltice, we dive into the concept of ambiguity aversion as part of our Psychology Saturday segment. 

Bryan explains how individuals prefer known risks over uncertain outcomes and how this affects various aspects of financial decision-making, from stock market behavior to personal finance choices. Real-life examples include investment preferences, insurance purchases, and career decisions. 

Bryan also shares his personal experiences and offers practical steps to help listeners overcome ambiguity aversion and make more informed financial choices. Tune in for insights and actionable advice to enhance your financial well-being.

00:00 Introduction to Psychology Saturday
01:42 Understanding Ambiguity Aversion
03:36 Ambiguity Aversion in Finance
07:27 Ambiguity Aversion in Personal Decisions
11:20 Overcoming Ambiguity Aversion
16:54 Conclusion and Call to Action

You can also find more information and free resources at www.bryanfoltice.com and at www.moneystrong.net. 

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Understanding Financial Independence: Breaking Down the Four Levels

In this episode of the Money Strong Money Monday podcast, hosted by Dr. Bryan Foltice, the focus is on clarifying the concept of financial independence. 

Bryan introduces a four-level framework to help listeners understand and navigate their journey toward financial independence. 

He starts by defining Level 1 as the stage where individuals work to get out of debt and build an emergency fund. 

Level 2 involves generating passive income through assets like real estate and stocks. 

Reaching Level 3 means passive income exceeds expenses, allowing more financial freedom. 

Finally, Level 4 represents ultimate financial flexibility, where income surpasses all expenses by a significant margin. 

Bryan also encourages listeners to engage with Money Strong's online resources, including their educational programs and social media channels.

00:00 Welcome to Money Strong Money Monday
00:21 Introduction to Financial Independence
00:49 Money Strong Programs and Offers
02:39 Understanding Financial Independence Levels
05:02 Level 1: Ground Level Starting Line
06:42 Level 2: Building Passive Income and Wealth
09:36 Level 3: Passive Income Outweighs Expenses
14:43 Level 4: Ultimate Financial Flexibility
16:16 Conclusion and Final Thoughts

You can also find more information and free resources at www.bryanfoltice.com and at www.moneystrong.net. 

Support the show

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Understanding Mental Accounting: Avoiding Common Financial Pitfalls

In this episode of the Money Strong Personal and Behavioral Finance podcast, host Dr. Bryan Foltice introduces 'Psychological Saturday' with a deep dive into mental accounting. Learn how categorizing money in different areas can lead to both optimal and suboptimal financial decisions. 

This episode covers how we categorize our investments, income, and financial events, and explores concepts from prospect theory, loss aversion, and the sunk cost fallacy. 

Bryan also highlights the tendency to overweight low probabilities and offers tips on making better financial decisions. Tune in for insights that could transform your approach to personal finance. 

Visit www.MoneyStrong.net and connect on social media for more financial advice and resources.

00:00 Introduction to Mental Accounting
00:59 Behavioral Finance Concepts
02:12 Categorizing Investments and Income
06:03 Categorizing Spending
11:06 Categorizing Financial Events
16:48 Overweighting Low Probabilities
18:39 Conclusion and Further Learning

You can also find more information and free resources at www.bryanfoltice.com and at www.moneystrong.net. 

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Side Hustles: Should You Have One? Exploring All Angles

Welcome to the Money Strong Personal Finance podcast! Join Dr. Bryan Foltice as he delves into the heated debate around side hustles. Discover the pros and cons, various types of side hustles, and key considerations for deciding when and if you should take on a side gig. 

Bryan shares personal anecdotes and statistical insights, all while maintaining a balanced viewpoint to help you make an informed decision about your financial future. Tune in and learn how side hustles can help you achieve your financial goals, or if they might lead you to burnout.

00:00 Introduction to the Podcast
00:48 Updates and Announcements
02:24 The Side Hustle Debate
07:30 Types of Side Hustles
14:41 When Not to Pursue a Side Hustle
19:30 Conclusion and Final Thoughts

You can also find more information and free resources at www.bryanfoltice.com and at www.moneystrong.net. 

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Overcoming Financial Planning Obstacles: 4 Common Pitfalls and How to Avoid Them | Money Strong Podcast

In this episode of the Money Strong Podcast, host Bryan Foltice discusses the key reasons why many people struggle with long-term financial planning. He outlines four major obstacles: not starting at all, quitting after setbacks, creating unsustainable plans, and losing motivation. Bryan shares strategies to overcome these hurdles by breaking down financial goals into manageable steps, maintaining consistency, and building sustainable plans. He also highlights the importance of community support and mental resilience in achieving financial success. Tune in for actionable advice and frameworks to strengthen your financial future.

00:00 Introduction and Podcast Overview
00:40 End of School Year Reflections
01:54 Transition to Summer Mode
02:26 Why We Fail at Financial Planning
02:44 Reason 1: Not Starting - Due to Being Overwhelmed & Opening Accounts
09:22 Reason 2: Quitting After Setbacks
14:28 Reason 3: Unsustainable Plans
19:46 Reason 4: Losing Motivation
22:27 Conclusion and Call to Action

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Navigating Stock Market Corrections: Lessons in Emotion, Timing, and Diversification

In this episode of the Money Strong Podcast, host Bryan Foltice discusses the recent stock market correction of 2025. Bryan delves into the importance of remaining unemotional during market downturns and views these periods as buying opportunities. He emphasizes key lessons in managing emotions, understanding time horizons for investments, and the critical role of diversification. Bryan shares his personal experience with loss aversion and offers practical advice on rebalancing portfolios to mitigate risks. Watch and learn how to navigate financial turbulence with a balanced and informed approach.

00:00 Introduction to the Money Strong Podcast
00:48 Reflecting on Recent Market Performance
01:38 Understanding Emotional Reactions
03:38 Lessons from Market Corrections
08:48 The Importance of Time Horizon
11:53 Diversification Strategies
16:13 Rebalancing Your Portfolio
20:33 Final Thoughts and Viewer Engagement

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10 Keys to Improve Financial Communication with Your Partner

Join Bryan Foltice in the Money Strong Personal Finance Podcast as he discusses how to effectively talk about money with your significant other. This episode dives into 10 key strategies to help build a stronger relationship through financial conversations. Topics include setting regular financial check-ins, maintaining transparency, working as a team, and celebrating milestones together. Bryan also shares his personal experiences and valuable insights into creating a harmonious financial partnership.

1. Set a Regular Money Date

• Schedule a relaxed time (weekly, biweekly, or monthly) to discuss finances.
• Keep it low-pressure—maybe over coffee or dinner.

2. Be Honest and Transparent

• Share your income, expenses, debts, and financial goals.
• Avoid hiding purchases or financial decisions.

3. Focus on Teamwork, Not Blame

• Approach money as a team effort rather than pointing fingers.
• Use "we" statements instead of "you" (e.g., "How can we improve our savings?" instead of "You need to stop spending so much").

4. Define Shared Goals

• Discuss what matters most—paying off debt, saving for a house, investing, etc.
• Align on long-term goals like retirement or travel.

5. Understand Each Other’s Money Mindset

• Discuss how you were raised with money and how it affects your financial habits.
• Recognize if one of you is a spender and the other is a saver—find a balance.

6. Use a Budget That Works for Both of You

• Choose a budgeting method that fits your lifestyle (e.g., joint or separate accounts, percentage-based budgeting).
• Use apps or spreadsheets to track spending together.

7. Give Each Other Some Financial Freedom

• Set aside “no-questions-asked” personal spending money.
• This avoids micromanaging and resentment.

8. Handle Disagreements Calmly

• If tensions rise, take a break and return to the conversation later.
• Compromise where possible and seek solutions, not arguments.

9. Consider a Financial Advisor or Coach

• If discussions become too difficult, an objective third party can help.

10. Celebrate Progress Together

• Acknowledge wins—paying off a debt, reaching a savings goal, etc.
• Reward yourselves for good financial habits.

Support the show

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Overcoming Negativity Bias: Strategies for Financial Resilience | Money Strong Podcast

In this episode of the Money Strong podcast, host Bryan Foltice discusses the common human tendency towards negativity bias and its implications for personal finance. 

He provides updates on the rebranding of the podcast and the new Money Strong College Program available on various platforms. 

Bryan shares personal stories and insights into the current state of the stock market, emphasizing the importance of maintaining a positive mindset during financial downturns. He explores historical market trends, the emotional impact of market fluctuations, and strategies for managing and overcoming negativity bias to achieve long-term financial success. 

Bryan encourages listeners to stay the course with their investments, learn from setbacks, and continue to save diligently. The episode blends behavioral finance concepts with practical financial advice aimed at helping individuals build a robust financial future.

00:00 Introduction to the Money Strong Podcast
01:19 Personal Updates and New Beginnings
03:37 Market Overview and Negativity Bias
06:05 Investment Strategies and Diversification
09:42 Behavioral Finance and Overcoming Negativity
16:38 Lessons from Past Market Experiences
20:53 Strategies to Overcome Financial Setbacks
22:02 Conclusion and Viewer Engagement

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Mastering Debt: Understanding Your Financial Intensity Levels

Join Dr. Bryan Foltice in this episode of the Bryan Foltice Behavioral Finance Podcast as he dives deep into the concept of financial intensity levels, particularly in the context of paying off loans and debt. Bryan shares his unique approach from his Money Strong program, offering four distinct intensity levels: minimal effort, moderate effort, high effort, and extreme intense effort. Drawing from personal anecdotes and professional insights, he emphasizes that not everyone should approach debt repayment the same way. Listeners will learn how to identify the level that best fits their personality and situation, and how to design their financial goals accordingly. Don't miss valuable tips on creating a balanced financial plan that promotes both debt repayment and wealth building.

00:00 Introduction to the Podcast
01:15 Understanding Intensity Levels in Finance
02:59 Personal Stories and Lessons Learned
09:05 Four Levels of Debt Repayment
20:57 Conclusion and Final Thoughts

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Debt Repayment Strategies Unveiled | Bryan Foltice Behavioral Finance Podcast

In this episode of the Bryan Foltice Behavioral Finance Podcast, host Dr. Bryan Foltice dives into debt repayment strategies. Dr. Foltice discusses the growing issue of consumer debt in the U.S. and reveals different methods to tackle it, including the snowball, avalanche, and snowflake methods. He also introduces a hybrid repayment approach. Additionally, he offers advice for new graduates on balancing debt repayment with retirement savings. Don't miss this insightful episode to help you or someone you know get out of debt more effectively.

00:00 Introduction to the Podcast
00:26 Understanding Debt Repayment Strategies
06:54 The Snowball Method Explained
09:33 The Avalanche Method: Pros and Cons
11:25 The Snowflake Method: Small Wins
15:36 Hybrid Approach to Debt Repayment
18:49 Conclusion and Final Thoughts

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Understanding Hedonic Adaptation in Behavioral Finance with Dr. Bryan Foltice

Welcome to the Bryan Foltice Behavioral Finance Podcast! In this episode, Dr. Bryan Foltice dives deep into the concept of hedonic adaptation, also known as the hedonic treadmill. Dr. Foltice shares his personal journey, transitioning from the corporate world to academia, and illustrates how we often adapt to both positive and negative life events. He further discusses the impact of this adaptation on financial decisions, the pitfalls of lifestyle inflation, and the importance of aligning financial goals with personal values. Learn practical advice on practicing gratitude, spending on experiences, and aligning your finances with life goals for long-term happiness. Tune in for an insightful discussion on making smarter, more informed financial decisions.

00:00 Introduction to the Podcast
01:33 Understanding Hedonic Adaptation
02:14 Personal Journey: From Investment Banking to Academia
07:13 Achieving Tenure: The Emotional Rollercoaster
14:08 Hedonic Adaptation in Financial Decisions
19:51 Strategies to Overcome Hedonic Adaptation
24:02 Aligning Financial Goals with Life Purpose
26:17 Conclusion and Final Thoughts

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Unveiling the Ziegarnik Effect: How Unfinished Tasks Shape Our Financial Decisions

In this episode of the Bryan Foltice Behavioral Finance Podcast, Dr. Bryan Foltice delves into the Ziegarnik effect, a psychological phenomenon that explains why unfinished tasks occupy our minds more than completed ones. The discussion covers the impact of this effect on various aspects of life, including work, personal tasks, and even watching TV shows. Dr. Foltice then bridges the concept to behavioral finance, illustrating how unresolved financial issues like debt can cause stress and anxiety. He offers strategies to mitigate these effects and transform financial goals into powerful motivators. This episode provides valuable insights into using the Ziegarnik effect to enhance financial decision-making and overall well-being.

00:00 Introduction to the Bryan Foltice Behavioral Finance Podcast
01:13 Unpacking the Ziegarnik Effect
02:42 Applying the Ziegarnik Effect in Daily Life
06:05 Behavioral Finance and the Ziegarnik Effect
08:20 Using the Ziegarnik Effect to Achieve Financial Goals
12:14 The Ziegarnik Effect and Investment Behavior
16:32 Conclusion and Final Thoughts

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Building a Flexibility Fund: The Key to Financial Independence | Bryan Foltice Behavioral Finance Podcast

Welcome to the Bryan Foltice Behavioral Finance Podcast! In this episode, Dr. Bryan Foltice discusses the importance of the Flexibility Fund as a crucial step in achieving financial independence. He shares personal anecdotes and practical advice on setting up this fund, which serves as a safety net for unexpected expenses and provides financial freedom. Learn how to prioritize savings goals, manage debt, and create a financial buffer that opens doors to future opportunities. Don't miss out on tips to turn your financial life around and build a secure and flexible future.

00:00 Introduction to the Podcast
00:25 Introducing the Flexibility Fund
00:58 The Importance of the Murphy's Fund
02:00 Steps to Eliminate Debt
02:52 Building the Flexibility Fund
03:54 Personal Journey and Financial Turnaround
05:08 The Daniel Fast and Its Impact
06:52 Achieving Financial Independence
10:18 Setting Up Your Flexibility Fund
13:09 Investing Your Flexibility Fund
15:17 Maintaining Financial Discipline
16:57 Conclusion and Listener Engagement

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Achieve Your First $1,000: Behavioral Finance Tips with Dr. Bryan Foltice

Welcome to the first episode of the Bryan Foltice Behavioral Finance Podcast! Dr. Bryan Foltice dives into the world of behavioral finance and personal milestones, focusing on how to save your first $1,000. Whether you're starting from zero or already have some savings, this episode is packed with actionable strategies to help you achieve this initial goal. Dr. Foltice also introduces the 'Money Strong' program and the importance of having a financial cushion to mitigate unforeseen expenses. Tune in for practical tips on cutting expenses, boosting income, and setting up effective savings plans.

00:00 Introduction to the Podcast
00:24 The Importance of Saving Your First $1000
03:09 Understanding the Murphy Fund
07:17 Practical Tips for Saving $1000
12:34 Where to Keep Your Savings
15:29 Conclusion and Next Steps

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Understanding the Winner's Curse: How Overpaying Leads to Losses

Welcome to the Bryan Foltice Behavioral Finance Podcast! In this episode, host Dr. Bryan Foltice delves into the intriguing phenomenon of the winner's curse—a situation where winning can actually mean losing. By examining real-world examples ranging from eBay auctions and trading card businesses to sports contracts and major acquisitions, Dr. Foltice explains how overconfidence, emotional decision-making, and asymmetric information often lead to overpaying. He also shares practical strategies to recognize and avoid falling victim to this financial pitfall. Tune in for valuable insights on making smarter, more informed financial decisions.

00:00 Introduction to the Brian Foltis Behavioral Finance Podcast
00:27 Understanding the Winner's Curse
01:36 Personal Experience with eBay Auctions
04:47 Emotional Decision Making in Auctions
05:37 The Loser's Curse in Sports Contracts
07:28 Overconfidence and Emotional Decision Making
10:29 Examples of the Winner's Curse in Business
14:12 Avoiding the Winner's Curse
17:20 Conclusion and Listener Engagement

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Unmasking the Super Bowl Effect in Behavioral Finance | Bryan Foltice

Welcome to another episode of the Bryan Foltice Behavioral Finance Podcast! This week, coinciding with Super Bowl week, Dr. Bryan Foltice dives into the intriguing 'Super Bowl effect'—a theory that links Super Bowl outcomes with stock market performance. Originating from a 1978 New York Times article by Leonard Kopet, the theory suggests that an AFC team win signals a market decline, while an NFC team win predicts a bull run. Bryan scrutinizes this pattern recognition, its historical accuracy, and the cognitive biases that entice us to believe in such coincidences. He concludes by emphasizing the importance of disciplined, long-term investment strategies over superstitious financial decisions. Tune in for an enlightening discussion and don't forget to subscribe!

00:00 Introduction to the Podcast
00:42 The Super Bowl Effect Explained
02:00 Historical Analysis of the Super Bowl Effect
04:33 Behavioral Finance and Cognitive Biases
07:33 Correlation vs. Causation
10:00 Other Market Indicators and Theories
12:49 Final Thoughts and Advice
13:15 Closing Remarks

Support the show

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Smart Goal Setting in Personal Finance for 2025: A Year in Review and Planning Ahead

In this episode of the Bryan Foltice Behavioral Finance Podcast, Dr. Bryan Foltice discusses personal finance goal setting for the new year, reviewing the events of 2024. He emphasizes the importance of SMART goals (Specific, Measurable, Achievable, Relevant, Time-bound) and shares personal milestones, such as paying off student loans and improving financial habits. The episode focuses on helping listeners craft well-defined financial objectives to make 2025 a prosperous and successful year. Dr. Foltice also offers resources available on his website and Udemy courses.

00:00 Introduction to the Podcast
00:50 Setting Personal Finance Goals for 2025
02:40 Reflecting on Past Financial Decisions
03:49 Mandy's Career and Financial Journey
06:49 Combining Finances in Marriage
11:53 Achieving Financial Milestones
13:18 SMART Goal Setting Explained
19:17 Conclusion and Final Thoughts

Support the show

Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter

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Understanding the Mere Urgency Effect in Behavioral Finance

In this episode of the Bryan Foltice Behavioral Finance Podcast, Dr. Bryan Foltice explores the Mere Urgency Effect, a psychological phenomenon where people prioritize urgent tasks over important ones, even if the latter offers greater rewards. He delves into recent studies from the Journal of Consumer Research by professors from Carnegie Mellon, Florida, and Chicago. Bryan explains the practical implications of this effect on productivity and financial planning, offering actionable advice on how to better categorize and prioritize tasks to achieve financial and personal goals. He also provides resources for further learning and tools for effective financial planning available on his website and Udemy. Listeners are encouraged to subscribe and engage with the podcast for more insights into behavioral finance.

00:00 Introduction and Podcast Overview
00:23 Promotional Announcements and Resources
01:27 Understanding the Mere Urgency Effect
02:14 Real-Life Examples of Urgency vs. Importance
07:12 Implications for Productivity and Finance
11:08 Strategies to Outsmart the Urgency Effect
16:19 Conclusion and Final Thoughts

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Goal Setting and Financial Independence for 2025

In this episode of the Bryan Foltice Behavioral Finance Podcast, Dr. Bryan Foltice helps listeners kick off 2025 with personal finance goal setting. Discussing SMART goals, he outlines the importance of setting Specific, Measurable, Achievable, Relevant, and Time-bound objectives. Bryan shares his own journey with his wife Mandi, tackling debt and prioritizing investments, and encourages listeners to reflect on their financial progress over the past year to set impactful goals for the new year. Tune in for insights on achieving financial independence and making informed decisions with your money.

00:00 Introduction to the Podcast
00:50 Setting Personal Finance Goals for 2025
02:40 Reflecting on Past Financial Decisions
03:49 Mandi's Career and Financial Journey
06:49 Combining Finances in Marriage
11:53 Achieving Financial Milestones
13:18 SMART Goal Setting Explained
19:17 Conclusion and Final Thoughts

Support the show

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Mastering Time Management and Financial Decisions with Pareto's Principle

In this episode of the Bryan Foltice Behavioral Finance Podcast, Dr. Foltice returns after a hiatus to discuss the challenges of time management and financial decision-making, using Pareto's Principle (the 80/20 rule) as a guide. He shares his personal experiences from a demanding fall semester, reflects on the importance of focusing on high-impact activities, and offers actionable steps to improve time and financial management for the upcoming year. Dr. Foltice also emphasizes the benefits of passive index investing and minimizing distractions like email and smartphones to enhance productivity and financial well-being.

00:00 Introduction to the Podcast
00:44 New Year, New Topics: Time Management and Behavioral Finance
01:31 Personal Experiences and Challenges
06:02 Understanding Pareto's Principle
10:35 Applying Pareto's Principle to Time Management
12:33 Financial Decisions and Investments
15:01 Actionable Steps for Improvement
19:46 Conclusion and Final Thoughts

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Introducing the Money Strong Program: Empowering Financial Literacy at Butler University

In this episode, Bryan introduces his friend and partner, Randy Brown, as they unveil the Money Strong Program at Butler University. 

Together, they share their journey in developing the program, emphasizing the importance of financial literacy for students. Randy shares his personal background in HR and his transition to a career mentor at Butler, while Bryan explains the personal experiences that fueled his passion for financial literacy. 

The duo discusses the steps they've taken to launch the program, the challenges they've faced, and the incredible support they've received from the Butler community. 

They highlight the key components of the program, including large group 'Money Talks' sessions, one-on-one financial advice from professionals, and the creation of a new Personal Finance Club. 

Join Bryan and Randy as they share their mission to help students navigate their financial futures more confidently.

00:00 Introduction and Guest Welcome
00:54 Randy Brown's Background and Career Journey
03:25 Transition to Butler University
06:48 Challenges and Insights in Career Mentoring
10:44 The Birth of the Financial Literacy Initiative
17:52 Building the Financial Literacy Program
27:01 Launching the Personal Finance Club
30:35 Future Plans and Call to Action

Support the show

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The Untold Truths of Starting Your Own Business | Bryan Foltice Behavioral Finance Podcast

Welcome to the Bryan Foltice Behavioral Finance Podcast! In this episode, Bryan shares invaluable insights on starting your own business, focusing on three often overlooked aspects: the overwhelming responsibility, the isolation, and the slow growth. Drawing from his own experiences, Bryan provides encouragement and practical advice to help you navigate these challenges and succeed in your entrepreneurial journey. Plus, discover how these obstacles can lead to personal growth and long-term success. Don't miss out on this candid and inspirational discussion!

00:00 Introduction to the Podcast
00:55 The Hidden Challenges of Starting a Business
02:19 It's All On You: The Reality of Running a Startup
05:21 The Isolation and Loneliness of Entrepreneurship
07:56 Facing the Harsh Reality of Results
09:37 Turning Challenges into Opportunities
10:42 Encouragement and Final Thoughts
12:21 Personal Reflections and Growth
19:17 Conclusion and Available Resources

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Understanding and Overcoming the Planning Fallacy | Bryan Foltice Behavioral Finance Podcast

In this episode of the Bryan Foltice Behavioral Finance Podcast, host Bryan Foltice discusses the 'planning fallacy,' a common cognitive bias where individuals systematically underestimate the time, cost, and risks associated with tasks. Originating from the work of Daniel Kahneman and Amos Tversky in 1979, this fallacy affects everyone, including academics and professionals. 

Bryan shares his personal experiences and insights on avoiding the pitfalls of the planning fallacy, emphasizing the importance of realistic time estimations, proper budgeting, and anticipation of potential risks to improve productivity and financial planning. Tune in to learn practical strategies to combat this common bias and enhance your decision-making skills.

00:00 Introduction to the Planning Fallacy
00:49 Personal Experience with the Planning Fallacy
01:47 Origins and Explanation of the Planning Fallacy
02:33 Impact of the Planning Fallacy in Academia
04:14 Optimism and Miscalibration
05:09 Real-Life Example: Summer Project
07:55 Budgeting and Financial Implications
10:13 Evaluating Risk and Setting Expectations
11:43 Strategies to Overcome the Planning Fallacy
14:53 Conclusion and Offerings

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In this episode of the Bryan Foltice Behavioral Finance podcast, Bryan discusses the recent market volatility linked to the carry trade, a complex financial strategy involving borrowing in low-interest currencies like the Japanese yen to invest in higher-yielding assets. 

Using current market data, he provides an in-depth explanation of how fluctuations in currency values impact these trades and their broader implications on equity and bond markets. The episode aims to educate listeners on the recent disturbances caused by potential interest rate hikes in Japan and how this phenomenon affects global financial markets.

00:00 Introduction to the Podcast and Market Volatility
00:59 Understanding the Carry Trade
02:13 Example of the Carry Trade with Japanese Yen
03:46 Impact of Currency Rates on the Carry Trade
08:23 Recent Market Reactions and Risks
11:33 Conclusion and Final Thoughts

Support the show

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Join Dr. Bryan Foltice in this episode of the Bryan Foltice Behavioral Finance Podcast as he dives into the concept of the bias blind spot. Discover how most of us perceive ourselves as less biased than others and the psychological mechanisms behind this phenomenon. 

Dr. Foltice discusses the impact of this bias on decision-making and offers personal insights and examples of common biases in daily life. Additionally, get an exciting update on his new mini-course on behavioral finance. Tune in for a thought-provoking discussion aimed at increasing self-awareness and understanding in the realm of personal finance.

References: The Bias Blind Spot: Perceptions
of Bias in Self Versus Others - https://www.sakkyndig.com/psykologi/artvit/pronin2015.pdf

00:00 Introduction to the Podcast
00:29 Unveiling the Bias Blind Spot
02:54 Behavioral Finance Course Announcement
05:18 Understanding the Bias Blind Spot
10:06 Real-World Examples of Bias
18:08 Self-Serving Bias and Cognitive Dissonance
22:10 Overcoming Bias and Final Thoughts

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Active vs Passive Management: Analyzing Mutual Fund Performance

In this episode of the Bryan Foltice Behavioral Finance Podcast, Dr. Bryan Foltice delves into the debate between actively managed mutual funds and their passive counterparts. He discusses market efficiency, the pitfalls of actively managed funds, and the significant impact of expenses and front-loaded fees on investment returns. 

Foltice provides evidence for and against active management, compares historical performances, and explains the difference between arithmetic and geometric returns. Despite acknowledging the allure of certain actively managed funds, he advocates for index investing based on current data and research. Join the conversation and explore the intricacies of making informed investment decisions to achieve financial success.

00:00 Introduction to the Podcast
00:26 Actively Managed Mutual Funds vs. Alternatives
01:04 Reflections on Previous Episode and Dave Ramsey's Critique
04:35 Market Efficiency and Behavioral Finance
06:28 Personal Investment Strategies
07:36 Active vs. Passive Management Debate
09:45 Analyzing Historical Fund Performance
14:36 The Impact of Fees on Investment Returns
21:04 Final Thoughts and Listener Engagement
21:51 Closing Remarks

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In this episode of the Bryan Foltice Behavioral Finance Podcast, Dr.  Bryan Foltice  discusses the controversy surrounding Dave Ramsey's recommendation of an 8% retirement withdrawal rate. He critiques Ramsey's approach, highlighting its potential risks and compares it with the more conservative 4% rate commonly advised by financial planners. 

Dr. Foltice delves into the importance of considering sequence risk and advocates for a balanced, flexible strategy to ensure financial stability throughout retirement. The episode aims to provide financial insights and foster informed decision-making among listeners.

00:00 Introduction to the Podcast
00:35 Critique of Dave Ramsey's Advice
01:41 Personal Experience with Financial Peace
03:58 Long-term Financial Planning
06:23 The 4% Rule and Retirement Puzzle
14:28 Sequence of Returns Risk
19:49 Finding a Middle Ground
22:09 Conclusion and Next Steps

References
Recap on Dave Ramsey's 8% Rule - https://www.mcleanam.com/dave-ramseys-8-withdrawal-rate/
The Updated Trinity Study - https://thepoorswiss.com/updated-trinity-study/
Sequence Risk Calculator Link - https://bryanfoltice.com/resources

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In this episode of the Bryan Foltice Behavioral Finance Podcast, Dr. Bryan Foltice delves into foundational concepts of behavioral finance. He revisits prospect theory, emphasizing our differing sensitivities to gains and losses, and introduces the disposition effect - our tendency to sell winning stocks too early and hold onto losing stocks too long. 

Dr. Foltice shares personal anecdotes and research findings, including a study on the efficacy of trailing stop loss orders in minimizing the disposition effect and improving investment strategies. Tune in for more insights and practical advice on making smarter financial decisions.

00:00 Introduction to the Podcast
00:23 Overview of Today's Topic
01:40 Understanding Prospect Theory
04:30 The Disposition Effect Explained
07:35 Personal Anecdotes and Lessons
08:41 Research and Strategies to Mitigate the Disposition Effect
11:26 Practical Application of Trailing Stop Losses
14:17 Conclusion and Final Thoughts

References: 
"Are Investors Reluctant to Realize Their Losses?" Terrance O'Dean Journal of Finance https://faculty.haas.berkeley.edu/odean/papers%20current%20versions/areinvestorsreluctant.pdf

"Exploring the Effectiveness of Trailing-Stop-Loss Strategies for Individual Investors" by Steve Dolvin and Bryan Foltice - Journal of Beta Investment Strategies Journal. https://www.pm-research.com/content/iijindinv/14/1/29

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Behavioral Finance Explains: Why Americans Misunderstand the Economy

In this episode of the Bryan Foltice Behavioral Finance Podcast, Dr. Bryan Foltice discusses a U.S. survey revealing widespread economic misconceptions among Americans. Key findings show that many Americans believe the economy is shrinking, the stock market is down, and unemployment is at a high, contrary to actual data showing economic growth, stock market highs, and low unemployment rates. 

Foltice explores the reasons behind these misconceptions, including a lack of stock market participation and the impact of confirmation bias, and emphasizes the potential political motivations behind misinformation. He also raises concerns about future economic and real estate market stability given the high percentage of people living paycheck to paycheck.

00:00 Introduction to the Podcast
01:27 Survey Findings on American Economic Perceptions
03:09 Disconnection Between Perception and Reality
05:45 Living Paycheck to Paycheck in America
08:29 Impact of Inflation and Interest Rates
11:09 Concerns About Unemployment and Future Recession
14:22 Conclusion and Final Thoughts

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Retiring Early: Is the FIRE Community the Right Path?

In this episode of the Bryan Foltice Behavioral Finance Podcast, Dr. Bryan Foltice delves into the FIRE (Financial Independence, Retire Early) movement. He discusses the key principles behind FIRE, including the idea of saving up to 70% of annual income to retire early and live off small withdrawals. 

Dr. Foltice evaluates the merits and challenges of the FIRE lifestyle, emphasizing the importance of having a purpose in both one's career and retirement. He addresses the potential pitfalls of extreme frugality and explores the balance between enjoying the present and saving for the future. Listeners are encouraged to find their own path to financial independence while maintaining a fulfilling and purposeful life.

00:00 Introduction to the Podcast
00:24 Understanding the FIRE Movement
01:52 Pros and Cons of the FIRE Lifestyle
05:30 Challenges Faced by Law Enforcement
08:43 Balancing Financial Goals and Life Purpose
11:57 Personal Insights and Financial Strategies
14:37 Conclusion and Final Thoughts

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In this episode of the Brtan Foltice Behavioral Finance Podcast, Dr. Brtan Foltice delves into the intriguing world of meme stocks, such as GameStop and AMC Entertainment, and their impact on investor behavior. 
He introduces key concepts of behavioral finance including noise trader risk and the Greater Fool Theory, explaining how these factors drive the stock prices far beyond their fundamental value. Bryan demonstrates how meme stock phenomena bring to light irrational aspects of investor behavior, fueled by social media influences and group dynamics rather than financial fundamentals. 
He also shares insights from his experiences teaching corporate finance, emphasizing the learning curve and sophistication investors gain through these market anomalies. The episode concludes with an encouragement for listeners to delve deeper into behavioral finance, suggesting it as an elective for finance majors and teasing an upcoming course package on the subject.

00:00 Introduction to Behavioral Finance and Meme Stocks

01:21 Summer Teaching and Transition to Online Classes

03:10 Diving Deep into Meme Stocks Phenomenon

07:38 Behavioral Finance Theories in Action: Noise Trader Risk and Greater Fool Theory

15:57 Learning from the Meme Stock Frenzy: A Shift in Investor Behavior

18:26 Wrapping Up

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Empowering Students with Financial Literacy: The Money Strong Program at Butler

In this episode of the Bryan Foltice Behavioral Finance Podcast, Dr. Bryan Foltice discusses the Money Strong program, a new initiative designed for college juniors and seniors at Butler University aimed at improving their personal finance skills. 

This program, born from a collaboration with career mentor Randy Brown, aims to address the lack of financial literacy education for students, regardless of their major. 

Foltice shares insights into the development of the program, its four content modules focused on motivation, budgeting, dealing with student loans, and investing, and the broader mission to equip students with the knowledge to avoid common financial pitfalls. Additionally, he highlights the new personal finance club initiated by students, and plans to involve alumni and financial advisors to provide further support. This episode emphasizes the importance of financial literacy in aligning with one's life purpose and not allowing money to become an obstacle to achieving it.

00:00 Introduction to the Behavioral Finance Podcast
00:32 Unveiling the Money Strong Program for College Students
01:15 Summer Break Reflections and the Emotional Roller Coaster of Academia
04:06 The Genesis of the Money Strong Program: A Collaboration Story
07:45 Developing the Money Strong Program: Feedback and Design
09:57 The Four Modules of the Money Strong Program
20:16 Navigating Postgraduate Financial Decisions
32:46 Expanding the Money Strong Program and Building a Personal Finance Community
36:39 Conclusion and Future Plans

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Youth Sports Meets Behavioral Finance: A Deep Dive with Dr. Bryan Foltice

In this episode of the Bryan Foltice Behavioral Finance Podcast, Dr. Foltice discusses the intersection of youth sports and behavioral finance in the United States. He explores the shift from community-based sports to private, for-profit sports organizations that emerged around 2008 due to budget cuts during the Great Recession. 

Dr. Foltice  \shares personal anecdotes and research findings on how this shift has led to financial strain and negative consequences for families, including overextended parents and kids missing out on valuable family time. The episode delves into the societal pressures and social norms around youth sports, the financial exploitation by private sports organizations, and the lack of balance between sports activities and family life. 

Bryan calls for a reevaluation of the current system, advocating for a return to more community-based activities and a balanced approach to children's involvement in sports.

00:00 Introduction to the Podcast and Host
00:45 Youth Sports Meets Behavioral Finance: A Personal Journey
03:59 The Financial and Emotional Strain of Youth Sports
05:42 Observing Parental Behavior at Youth Sports Events
07:51 The Hamster Wheel of Youth Sports Participation
08:43 Challenging the Status Quo: Social Norms and Family Balance
14:57 Navigating the Pay-to-Play Landscape: Costs and Consequences
22:11 Seeking Solutions and Personal Reflections
29:27 Conclusion and Call to Action

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The Overwhelming World of Youth Sports: A Behavioral Finance Perspective

In this episode of the Bryan Foltice Behavioral Finance Podcast, the discussion centers around the behavioral finance aspects of youth sports in the United States, highlighting the vast changes and increasing pressures families face. 

Bryan shares personal experiences to underscore how youth sports commitment has escalated, consuming significant time and resources, contrasting it with more balanced approaches seen in other countries like Germany. Delving into the history of youth sports, he points out the shift from community-based, low-cost sports to a prevalent pay-to-play model post-2008 recession, leading to a 19 billion dollar industry built on parental overconfidence and hope. The podcast sheds light on the disproportionate beliefs vs. reality of athletic scholarships and the financial strains on families, aiming to pivot towards improving this unbalanced situation.

00:00 Introduction to the Podcast

00:31 The Hot Topic: Behavioral Finance Meets Youth Sports

05:29 A Week in the Life: The Overwhelming Schedule of Youth Sports

14:25 How Did We Get Here? The Evolution of Youth Sports

19:15 The Behavioral Finance Perspective: Overconfidence and Financial Strain

24:35 Concluding Thoughts and Next Steps

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In this episode of the Bryan Foltice Behavioral Finance Podcast, hosts Bryan and Mandi Foltice delve into the topic of finance in relation to life purpose and future planning. They share personal stories, including Mandi's journey from nursing to pursuing a career aligned with her passion for creativity. 

They discuss the challenges and considerations of combining finances in marriage, the importance of aligning finances with life goals, and the process of navigating career changes for a more fulfilling life. 

The conversation also touches upon dealing with aging parents and the necessity of estate planning. Furthermore, the episode emphasizes the value of deep conversations about life purpose, the difficulties of discerning one's calling, and the journey towards happiness and fulfillment beyond routine and financial stability.

00:00 Welcome to the Behavioral Finance Journey

00:35 Diving Into Part Three: The Future of Finance and Life Purpose

03:49 Exploring Mandi's Career Shift and Life Purpose

07:32 The Challenges of Leaving a Stable Career for Passion

13:54 Financial Realities of Pursuing Your True Calling

16:16 Aligning Finances with Life Purpose and Future Planning

19:04 The Importance of Conversations on Future and Purpose

26:16 Embracing Creativity and Overcoming Doubts

27:40 Wrapping Up and Looking Forward

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In this episode of the Bryan Foltice Behavioral Finance Podcast, hosts Dr. Bryan Foltice and his wife Mandi discuss the evolution of their financial management as a couple. They recount their experiences of merging their finances after getting married, buying a house, and adjusting to new expenses like a dog and personal maintenance. 

They emphasize the importance of regular financial conversations to stay on track with their budget, despite how life's busyness can sometimes get in the way. The discussions cover everything from tracking expenses in a spreadsheet, handling unexpected costs, to planning for future purchases and travel. 

The episode highlights the benefits of financial transparency and accountability within their partnership, revealing both the challenges and positive outcomes of combining finances in a marriage.

00:00 Welcome to the Behavioral Finance Journey

00:28 Navigating Present Financial Waters Together

01:30 The Art of Monthly Finance Conversations

03:55 Unpacking the Budget: Expenses, Savings, and Surprises

09:03 The Travel Budget Dilemma: Finding Our Financial Pain Points

11:41 Managing Upcoming Purchases and Credit Card Dynamics

20:50 The Transparency and Accountability of Combining Finances

24:45 Looking Ahead: Combining Life Purposes and Financial Goals

25:25 Wrapping Up and Looking Forward to Part Three

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In this episode of the Bryan Foltice Behavioral Finance Podcast, host Dr. Bryan Foltice and his wife Mandi delve into their personal journey of combining finances in their relationship. They discuss their backgrounds, including Mandi's financial situation before they met and how they navigated their differing approaches to money management. 

By sharing their experiences with budgeting, addressing debt, and planning for the future, the couple sheds light on the challenges and successes of merging financial lives. The episode emphasizes the importance of communication, setting common goals, and working together as a team to achieve financial wellness in a relationship.

00:00 Welcome to the Behavioral Finance Journey

00:32 Introducing Mandi: A Personal Finance Transformation

02:44 From Financial Chaos to Clarity: Mandi's Story

05:22 First Impressions and Financial Fears

07:52 The Past: Navigating Finances in a Previous Marriage

17:51 The Power of Budgeting: A New Financial Perspective

22:56 Achieving Financial Progress Together

25:57 Looking Ahead: The Future of Our Financial Journey

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Navigating Finances in Marriage: Part 4 - Personal Finance Series

In this episode of the Bryan Foltice Behavioral Finance Podcast, Bryan shares his personal experience of navigating finances in marriage, highlighting the transition from single life through dating to getting married for a second time. Beginning with reflections on his dating life post-divorce and meeting his current wife, Mandi, the podcast delves into the practicalities and philosophies of combining finances within a marriage. 

Bryan and Mandi's approach to managing finances, from dealing with debts and savings to making joint financial decisions, is discussed in detail. Emphasizing a balanced approach rather than an all-or-nothing strategy, Bryan highlights the importance of communication, setting financial rules, and aligning finances with personal and joint life goals. 

The episode also touches on the personal growth both Bryan and Mandi experience as they navigate these financial decisions together, promising to bring Mandi's perspective in a future episode.

00:00 Introduction and Overview

00:16 The Journey to Financial Independence

01:32 The Transition to Audio-Only Format

02:03 The Story of Love and Finance

07:09 The Challenges of Combining Finances

09:36 The Decision to Combine Finances

11:37 The Importance of Financial Transparency

12:25 The Role of Budgeting in Financial Planning

12:58 The Impact of Personal Spending Habits

13:47 The Importance of Regular Financial Discussions

19:33 The Role of Purpose in Financial Planning

23:56 The Value of Quality in Purchasing Decisions

26:32 Conclusion and Contact Information

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5 Key Lessons on Teaching Kids About Money | Bryan Foltice Behavioral Finance Podcast

In this episode of the Bryan Foltice Behavioral Finance Podcast, Bryan continues the personal finance series by sharing important teaching points for educating children about money. He emphasizes the necessity of open discussions about financial matters, despite not feeling fully equipped or perfect at managing one's finances. 

Bryan outlines five key lessons to impart to children: talking openly about money, making them work for money, understanding taxes, basics of saving and investing, and the importance of giving and abundance. Additionally, he touches on societal pressures and the illusion of wealth, illustrating with personal anecdotes and examples the significance of making informed financial decisions. 

This episode aims to empower parents to engage in meaningful financial conversations with their children, encouraging smart spending, saving, and investing habits from a young age.

00:00 Introduction and Purpose of the Podcast

00:27 The Importance of Open Conversations about Money

02:05 Personal Update and Spring Break Plans

03:02 Five Key Points to Discuss with Kids about Money

06:39 The Illusion of Wealth and the Reality of Being Broke

11:30 The Concept of Working for Money

14:13 Understanding Taxes and Their Impact

16:10 The Basics of Saving and Investing

18:29 The Importance of Giving and Abundance

20:10 Conclusion and Invitation for Feedback

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In this episode of the Bryan Foltice Behavioral Finance podcast, Bryan shares personal experiences with finances, relating both positive and pitfalls. He highlights lessons learned from his childhood about avoiding debt and the importance of saving.  These include the "Snake Bite Effect" from buying his first house in Florida at the peak of the real estate bubble in 2007 to having a savers mentality versus investing. 

He also addresses some of his bad financial habits, noting a heavy annual spend during Christmas, visits to arcades and frequent using the DoorDash and Uber Eats services. 

Finally, Bryan emphasizes open conversations about money, working through past experiences to make better financial decisions, and steering clear of risky financial behaviors.

I hope you enjoy the content and learn all about the topic of Behavioral Finance. I've set up the first few podcasts as mini-lectures of my Behavioral Finance course that I teach at Butler University each semester. The goal of this podcast is to provide a comprehensive look into the topic of Behavioral Finance - for free!

Please click "Subscribe" and click the bell icon to keep up to date with new videos from Dr. Bryan Foltice - Behavioral Finance. If you've got any questions or feedback about this video content, please leave a comment in the comments section.

Support the show

Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter

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In this episode of the Bryan Foltice Behavioral Finance Podcast, Bryan discusses his personal journey to financial independence. Despite being a late bloomer, he outlines how he managed to get a grip on his finances, including paying off all debt except mortgage, maintaining a savings rate of about 25%, maxing out his 401k, saving for his children's education, and diligently tracking expenses. 

The podcast emphasizes the behavioral aspect of finance, reflecting on how our upbringings and past experiences shape our financial beliefs and decisions. This episode includes tips and tidbits about different forms of savings, assets, and strategies Bryan has used, while also touching on his upcoming plans to discuss combining finances after marriage.

00:00 Introduction and Personal Updates
03:27 The Importance of Personal Finance
05:18 The Role of Upbringing in Financial Decisions
08:43 My Personal Financial Journey
11:03 The Good: Successful Financial Strategies
13:55 The Transition to Shared Finances in Marriage
18:14 Investment Strategies and Portfolio Breakdown
21:26 Conclusion and Contact Information

I hope you enjoy the content and learn all about the topic of Behavioral Finance. I've set up the first few podcasts as mini-lectures of my Behavioral Finance course that I teach at Butler University each semester. The goal of this podcast is to provide a comprehensive look into the topic of Behavioral Finance - for free!

Please click "Subscribe" and click the bell icon to keep up to date with new videos from Dr. Bryan Foltice - Behavioral Finance. If you've got any questions or feedback about this video content, please leave a comment in the comments section.

 To Find out more about Bryan Foltice Behavioral Finance: 

Support the show

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In this episode, we dive into the topic of mental health and how it affects our Life and Finances. We also introduce a couple of very important topics: Develop a better understanding on how to change our behavior as well as redefining how it means to be rich (or life a rich/abundant life).

00:00 Introduction 
04:12 Changing our Behavior (Not a 1 Step Process! It's (at least) 3 steps)
10:10 Changing our Understanding of Social Norms using the 3 Step process
14:30 The (Almost) Five F's of a Rich Life Framework
16:30 The Importance of Mental Health in Living a Rich Life
40:00 Know Your Purpose in Life
43:10 Finances - Introduction to Scarcity vs. Abundance Mindset

I hope you enjoy the content and learn all about the topic of Behavioral Finance. I've set up the first few podcasts as mini-lectures of my Behavioral Finance course that I teach at Butler University each semester. The goal of this podcast is to provide a comprehensive look into the topic of Behavioral Finance - for free!

Please click "Subscribe" and click the bell icon to keep up to date with new videos from Dr. Bryan Foltice - Behavioral Finance. If you've got any questions or feedback about this video content, please leave a comment in the comments section.

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#behavioralfinance #bryanfoltice #behavioralfinancebiases #behavioralfinanceheuristics #psychologyandfinance #behavioralfinancespeaker #financepsychology #financialdecisions

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In this episode, we finish the Behavioral Finance Undergraduate course content with an episode devoted to various de-biasing strategies. 

00:00 Introduction 
04:18 4 Steps to Eliminate Bias 1. Bias Awareness 2. Motivate why the bias is important 3. Direction and Magnitude 4. Ability to eliminate/overcome
10:00 How to Reduce Bias (Actual Equation/Rule of Thumb/Experiential Learning) 
17:20 People Have Different Learning Preferences When it Comes to Reducing Bias
18:40 When is it Appropriate to Teach Bias Reduction? Just-In-Time Learning  
23:15 Why to People Who Look at their Portfolios Each Day Perform Worse? 
27:08 Understanding Your Budgeting Personality
34:40 Understanding the Difference Between Subjective and Objective Risk

I hope you enjoy the content and learn all about the topic of Behavioral Finance. I've set up the first few podcasts as mini-lectures of my Behavioral Finance course that I teach at Butler University each semester. The goal of this podcast is to provide a comprehensive look into the topic of Behavioral Finance - for free!

Please click "Subscribe" and click the bell icon to keep up to date with new videos from Dr. Bryan Foltice - Behavioral Finance. If you've got any questions or feedback about this video content, please leave a comment in the comments section.

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#behavioralfinance #bryanfoltice #behavioralfinancebiases #behavioralfinanceheuristics #psychologyandfinance #behavioralfinancespeaker #financepsychology #financialdecisions

Support the show

Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter

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In this episode, we continue our discussion on the importance of retirement savings and why most individuals don't save enough. We talk about the mistakes people make with retirement, how to improve spending decisions, and finish with a discussion on why some people save too much. 

00:00 Introduction and Short Life Update
03:45 Understanding Your Net Pay (and How much You Make per Hour)
06:40 Automatic Millionaire (Retirement Contributions Post-Graduation) 
12:00 Making Financial Decisions Based on Net Paycheck (Not Gross) 
15:00 Understanding Your Net Hourly Earnings (and Spending Decisions) 
20:00 Why We Don't Save - Short-Sightedness and Emotional Decisions
22:20 Why Young (Old) Investors are Invested Too Conservatively (Aggressively) 
27:35 Retirement Plan Design (SMartT Plan) 
31:40 Helping Asset Allocation? Target Date Fund
38:40 Wandering Asset Allocation 
40:00 Why People Save Too Much!

Reference: Net Paycheck Category https://www.paycheckcity.com/calculator/salary

I hope you enjoy the content and learn all about the topic of Behavioral Finance. I've set up the first few podcasts as mini-lectures of my Behavioral Finance course that I teach at Butler University each semester. The goal of this podcast is to provide a comprehensive look into the topic of Behavioral Finance - for free!

Please click "Subscribe" and click the bell icon to keep up to date with new videos from Dr. Bryan Foltice - Behavioral Finance. If you've got any questions or feedback about this video content, please leave a comment in the comments section.

 To Find out more about Bryan Foltice Behavioral Finance: 

Website - www.bryanfoltice.com
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Disclaimer: www.bryanfoltice.com/cv

#behavioralfinance #bryanfoltice #behavioralfinancebiases #behavioralfinanceheuristics #psychologyandfinance #behavioralfinancespeaker #financepsychology #financialdecisions

Support the show

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In this episode, we begin our discussion on the importance of retirement savings and why most individuals don't save enough. The biggest issue with this is that there are no do-overs for retirement savings, leaving most people ill-equipped for retirement. 

👉 Subscribe to our channel to stay tuned: https://cutt.ly/rwfRZWED

Defined Contribution (DC) Plan:

Individual Accounts: In a DC plan, each employee has their own individual retirement account. Examples include 401(k)s and 403(b)s in the United States, as well as Individual Retirement Accounts (IRAs).
Contributions: Contributions to a DC plan are made by both the employee and often the employer. These contributions are typically a percentage of the employee's salary. Some employers also provide matching contributions.
Investment Responsibility: In a DC plan, employees are typically responsible for making investment decisions for their account. They can choose from a menu of investment options offered by the plan, such as mutual funds or exchange-traded funds (ETFs).

Defined Benefit (DB) Plan:

Pooled Fund: In a DB plan, the employer contributes to a pooled fund, which is managed by the employer or a professional investment manager. The contributions are determined by a formula based on factors like the employee's salary, years of service, and age.
Guaranteed Benefit: The key characteristic of a DB plan is that it provides a guaranteed retirement benefit. This benefit is typically based on a formula and is predetermined. Employees know in advance what they can expect to receive upon retirement.
Investment Responsibility: Investment decisions in a DB plan are typically the responsibility of the employer or the plan trustee. The employee does not make investment choices.

1. Procrastination in Finance
Procrastination refers to the tendency to delay or put off tasks, even when they are important or have long-term consequences. In the context of personal finance, procrastination can have several negative effects. 

2. Self-Control in Finance:
Self-control, also known as discipline or willpower, plays a vital role in managing personal finances effectively. It involves making decisions that prioritize long-term financial well-being over short-term gratification. 

Clicking the timestamps below for a quick view of every action.

00:00 Introduction and Short Life Update
01:21 Cost of Having a Wedding Compared to Alternative Wedding Options
07:15 The rational stance on retirement savings (perfect savings vs. consumption)
10:00 Defined Benefit vs. Defined Contribution Plans Defined
12:22 In retirement savings, there are no do-over's
14:30 The overall "sorry picture" to retirement savings
17:15 Reasons We Don't Save - Procrastination and Lack of Self Control
21:40 Reasons We Don't Save - Status Quo Bias and Information Overload
23:40 How Often Should You Change Your Retirement Portfolio (What Do Most People Do?)
28:05 Reasons We Don't Save - The Task Is Too Overwhelming and Difficult

I hope you enjoy the content and learn all about the topic of Behavioral Finance. I've set up the first few podcasts as mini-lectures of my Behavioral Finance course that I teach at Butler University each semester. The goal of this podcast is to provide a comprehensive look into the topic of Behavioral Finance - for free!

Please click "Subscribe" and click the bell icon to keep up to date with new videos from Dr. Bryan Foltice - Behavioral Finance. If you've got any questions or feedback about this video content, please leave a comment in the comments section.

Support the show

Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter

Bryan Foltice Personal Website - www.bryanfoltice.com
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Disclaimer: www.bryanfoltice.com/cv

In this episode, we'll explore social norms, which are the unwritten rules and expectations that guide human behavior in a given society. They vary across cultures and can change over time. Here are some key points about social norms:

Social norms defined: Social norms are shared expectations within a society about how individuals should behave in various situations. They help maintain order and cohesion in a group..

Social norms also play a significant role in financial decision-making. These norms are the unwritten rules and expectations within a society or community that influence how individuals manage their money, make financial choices, and interact with financial institutions. In this episode, we discuss some ways in which social norms affect financial decision-making:

Clicking the timestamps below for a quick view of every action.

00:00 Introduction and Short Life Update
10:03 Introduction to Social Norms
11:48 Social Norms Defined
15:00 Social Norms Can Change Over Time, Cultures, and Situations
16:00 How we Speak and Dress based on Situation
19:01 Phone Etiquette
21:45 Different Cultures and Social Norms 
27:10 Social Norms and Eating
30:19 Social Norms and Investing (Gamestop and Cryptocurrencies)
34:00 Banking Social Norms (Electronic Bank Runs)
36:45 Why We Don't Break Social Norms in Investing
37:40 Breaking Social Norms in Personal Finance! Cars, Mortgages, and Education. 
44:44 Social Norms Getting in the Way of Your Purpose. 

I hope you enjoy the content and learn all about the topic of Behavioral Finance. I've set up the first few podcasts as mini-lectures of my Behavioral Finance course that I teach at Butler University each semester. The goal of this podcast is to provide a comprehensive look into the topic of Behavioral Finance - for free!

Please click "Subscribe" and click the bell icon to keep up to date with new videos from Dr. Bryan Foltice - Behavioral Finance. If you've got any questions or feedback about this video content, please leave a comment in the comments section.

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Disclaimer: www.bryanfoltice.com/cv

In this episode, we'll explore how the concepts of groupthink and conformity influence our decisions, shedding light on how these psychological tendencies influence our decisions, behavior, and society as a whole.

Behavioral finance helps us understand how financial decisions around things like investments, payments, risk, and personal debt, are greatly influenced by human emotion, biases, and cognitive limitations of the mind in processing and responding to information.

Groupthink defined: A psychological phenomenon where individuals within a group prioritize harmony and consensus over critical thinking, often leading to flawed decisions.

Key factors contributing to groupthink:
High group cohesion: Strong unity can discourage dissenting opinions.
Directive leadership: Authoritarian leaders can suppress diverse viewpoints.
Insulation: Lack of external input prevents a balanced perspective.
Stressful situations: Pressure for quick decisions can deter critical analysis.

Conformity defined: Adjusting one's behavior or beliefs to match those of a larger group.
Asch Conformity Experiment: Solomon Asch's research showed how individuals would give incorrect answers to match the group's consensus, even when they knew it was wrong.

Factors influencing conformity:
Group size: Larger groups tend to increase conformity.
Social identity: People conform more within groups they strongly identify with.
Normative influence: Conforming to gain social approval or avoid rejection.

Clicking the timestamps below for a quick view of every action.

00:00 Introduction 
01:08 Asch's Line Activity (Introduction to Conformity)
07:19 Pitfall of Conformity: GroupThink
08:08 Conformity/GroupThink Case Study - Enron
09:11 Size Matters: Group Size Determines Conformity for Board of Directors (more than 12 = Free-Riders) 
10:30 Interconnectedness of Board of Directors
13:22 Obedience to Authority
14:55 Milgram's Obedience to Authority Video Explanation
19:30 Herding 
22:40 The Wisdom of Crowds
24:51 The Difference Between the Wisdom of Crowds Vs. Biases

Interconnectedness of Board of Directors 
https://www.fastcompany.com/90209537/the-web-of-board-members-that-link-american-corporations-mapped

McDonalds Board of Directors (September 2023)
https://corporate.mcdonalds.com/corpmcd/investors/corporate-governance/board-of-directors.html

Milgram's Experiment Video: https://www.youtube.com/watch?v=cBDkJ-Nc3Ig

I hope you enjoy the content and learn all about the topic of Behavioral Finance. I've set up the first few podcasts as mini-lectures of my Behavioral Finance course that I teach at Butler University each semester. The goal of this podcast is to provide a comprehensive look into the topic of Behavioral Finance - for free!

Support the show

Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter

Bryan Foltice Personal Website - www.bryanfoltice.com
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Disclaimer: www.bryanfoltice.com/cv

In today's episode, we delve into the intriguing interplay between selfishness and altruism in the realm of decision-making and its impact on financial choices.

Behavioral finance helps us understand how financial decisions around things like investments, payments, risk, and personal debt, are greatly influenced by human emotion, biases, and cognitive limitations of the mind in processing and responding to information.

It's important to understand behavioral finance because analyzing this theory allows professionals to understand why individuals make certain decisions with their finances and how these decisions affect the economy. Professionals can use behavioral finance concepts to explain to customers the difference between a rational business decision and one that considers personal bias and impartial tendencies.

By understanding how and when people deviate from rational expectations, behavioral finance provides a blueprint to help us make better, more rational decisions when it comes to financial matters.

Behavioral finance shows that individuals may not necessarily make decisions on the basis of a rational analysis of all the information. This can lead to movements away from a fair price for an individual company’s shares, and the market as a whole to a period where share prices are collectively very high or low.

Clicking the timestamps below for a quick view of every action.

00:00 Introduction 
03:58 3 Games - Game 1 - Ultimatum Game
07:55 3 Games - Game 2 - Dictator Game 
08:57 3 Games - Game 3 - Trust Game 
12:48 If you were Fully Rational, What are the Amounts You would Give in these Games? 
16:41 Altruism Defined - Selfless concern of the Well-Being of Others
17:20 Do Fully Rational People Tip at an American Restaurant? 
26:20 Who are the Most Selfish and Altruistic Groups of People? 
28:16 What's the right balance (selfish vs. selfless) with our Money? 
30:00 Growing Up with a Scarcity Mindset to Tithing Money

I hope you enjoy the content and learn all about the topic of Behavioral Finance. I've set up the first few podcasts as mini-lectures of my Behavioral Finance course that I teach at Butler University each semester. The goal of this podcast is to provide a comprehensive look into the topic of Behavioral Finance - for free!

Please click "Subscribe" and click the bell icon to keep up to date with new videos from Dr. Bryan Foltice - Behavioral Finance. If you've got any questions or feedback about this video content, please leave a comment in the comments section.

 "To Find out more about Bryan Foltice Behavioral Finance: 

Website - www.bryanfoltice.com
Instagram - www.instagram.com/bryanfoltice
Linkedin - https://www.linkedin.com/in/bryan-fol...

Support the show

Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter

Bryan Foltice Personal Website - www.bryanfoltice.com
Money Strong Website - www.moneystrong.net

Instagram - www.instagram.com/dr.bryanfoltice
Linkedin - https://www.linkedin.com/in/bryanfoltice

Disclaimer: www.bryanfoltice.com/cv

In today's episode, we'll dive into the fascinating topic of overconfidence and its implications in the world of finance and decision-making.

Link to the 10 Question Overconfidence Survey (Links to an external site).: https://butler.qualtrics.com/jfe/form/SV_3CnkB2H2MN44dQF 

Overconfidence is a cognitive bias that can lead individuals to overestimate their abilities, knowledge, and the accuracy of their predictions.

Behavioral finance helps us understand how financial decisions around things like investments, payments, risk, and personal debt, are greatly influenced by human emotion, biases, and cognitive limitations of the mind in processing and responding to information.

It's important to understand behavioral finance because analyzing this theory allows professionals to understand why individuals make certain decisions with their finances and how these decisions affect the economy. Professionals can use behavioral finance concepts to explain to customers the difference between a rational business decision and one that considers personal bias and impartial tendencies.

By understanding how and when people deviate from rational expectations, behavioral finance provides a blueprint to help us make better, more rational decisions when it comes to financial matters.

Behavioral finance shows that individuals may not necessarily make decisions on the basis of a rational analysis of all the information. This can lead to movements away from a fair price for an individual company’s shares, and the market as a whole to a period where share prices are collectively very high or low.

Clicking the timestamps below for a quick view of every action.

00:00 Introduction 
01:55 Take the 10 Question Survey (Click on the link above to take the survey yourself)
05:10 Answers to the Survey 
08:40 Defining Confidence vs. Overconfidence 
10:35 4 Manifestations of overconfidence: Miscalibration
12:13 4 Manifestations of overconfidence: Better-than-Average Effect
13:10 4 Manifestations of overconfidence: Illusion of Control
14:40 4 Manifestations of overconfidence: Excessive Optimism
16:40 Bucket of Water Vs. Bale of Hay - Underconfidence Example
19:20 Who are Most Overconfident - 3 Main Drivers - Male, Education, Math Abilities
22:23 Why We Don't Learn from Our Mistakes - Self-Attribution Bias
25:09 Why We Don't Learn from Our Mistakes - Hindsight Bias
26:10 Why We Don't Learn from Our Mistakes - Confirmation Bias
30:40 Overconfidence in Financial Markets - Retail Traders
33:05 Excessive Optimism and Stock Analysts

I hope you enjoy the content and learn all about the topic of Behavioral Finance. I've set up the first few podcasts as mini-lectures of my Behavioral Finance course that I teach at Butler University each semester. The goal of this podcast is to provide a comprehensive look into the topic of Behavioral Finance - for free!

Please click "Subscribe" and click the bell icon to keep up to date with new videos from Dr. Bryan Foltice - Behavioral Finance. If you've got any questions or feedback about this video content, please leave a comment in the comments section.

 "To Find out more about Bryan Foltice Behavioral Finance: 

Website - www.bryanfoltice.com
Instagram - www.instagram.com/bryanfoltice
Linkedin - https://www.linkedin.com/in/bryan-fol...

Disclaimer: www.bryanfoltice.com/cv

Support the show

Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter

Bryan Foltice Personal Website - www.bryanfoltice.com
Money Strong Website - www.moneystrong.net

Instagram - www.instagram.com/dr.bryanfoltice
Linkedin - https://www.linkedin.com/in/bryanfoltice

Disclaimer: www.bryanfoltice.com/cv

In this four and final podcast on heuristics and biases, we connect the previously learned biases and heuristics of the last three episodes to our financial decision making. 

01:47 Heuristics Review  
03:05 Diversification Heuristic (Naive Diversification)
11:16 Information Overload on Retirement Investment Decisions 
13:52 Ambiguity in Investment Decisions (Under-diversification)
14:45 Home Bias Overview
16:50 Why the Home Bias Exists (3 Reasons)
20:21 Next Level Home Bias (Regional and Localized Home Bias)
23:10 Hedging our Happiness
25:05 Other Factors Driving Home Bias
26:20 Anchoring and Adjustment in Real Estate Appraisals
28:35 Status Quo Bias and Our Asset Allocation Decisions
33:20 Myopia and Frequently Feeling Losses in Our Portfolio 

I hope you enjoy the content and learn all about the topic of Behavioral Finance. I've set up the first few podcasts as mini lectures of my Behavioral Finance course that I teach at Butler University each semester. The goal of this podcast is to provide a comprehensive look into the topic of Behavioral Finance - for free!

#behavioralfinance #psychologyofmoney #financialdecisions 

References: Bernartzi and Thaler (2001) - Naive Diversification
https://www.aeaweb.org/articles?id=10.1257/aer.91.1.79

Disclaimer: www.bryanfoltice.com/cv

Support the show

Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter

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In this third installment of heuristics and biases, we conclude this theme by discussing some vital biases - exponential growth, amortization, self-selection, and survivorship biases. 

00:00 Introduction
02:25 Compound Interest - Exponential Growth Bias (EGB)  
07:46 Exponential Growth Math FV=PV*(1+r)^t
09:35 Implications of Exponential Growth Bias
11:21 Learning Present Value - Who Wants to Be a Millionaire PV=FV/(1+r)^t
16:09 Expense Fees Over Time - FV=PV*(1+r-e)^t
24:48 Amortization Bias - Tendency to Believe that We pay off loans equally over time. 
27:02 Self-Selection Bias
29:34 Survivorship Bias 
31:45 How Datasets Can be Manipulated 

I hope you enjoy the content and learn all about the topic of Behavioral Finance. I've set up the first few podcasts as mini lectures of my Behavioral Finance course that I teach at Butler University each semester. The goal of this podcast is to provide a comprehensive look into the topic of Behavioral Finance - for free!

#behavioralfinance #psychologyofmoney #financialdecisions 

Disclaimer: www.bryanfoltice.com/cv

References: 
Fernandes et al: Financial Literacy Driving 0.1% of Financial Behavioral https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2333898

Foltice and Langer (2014) Decision Analysis paper on How We Learn about Exponential Growth Bias
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2419035

Support the show

Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter

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Disclaimer: www.bryanfoltice.com/cv

In this episode, we continue our exploration into various heuristics and biases. We dive into various biases and heuristics. 

00:00 Introduction 
03:38 Status Quo Bias 
07:58 Endowment Effect
12:50 Wine and Information Overload
19:03 "Representativeness" Defined
20:13 Conjunction Fallacy
25:15 Hot-Hand Effect
30:01 Gamblers Fallacy  
32:35 Recency Bias 
33:16 Salience   
35:47 Availability Bias
38:55 Anchoring and Adjustment

I hope you enjoy the content and learn all about the topic of Behavioral Finance. I've set up the first few podcasts as mini lectures of my Behavioral Finance course that I teach at Butler University each semester. The goal of this podcast is to provide a comprehensive look into the topic of Behavioral Finance - for free!

#behavioralfinance #psychologyofmoney #financialdecisions 

Disclaimer: www.bryanfoltice.com/cv

Support the show

Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter

Bryan Foltice Personal Website - www.bryanfoltice.com
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Disclaimer: www.bryanfoltice.com/cv

In this episode, we begin our exploration into various heuristics and biases. We dive into type 1 thinking and explore the pros and cons of our mental shortcuts. 

00:00 Introduction 
07:40 Background on Biases and Heuristics 
08:30 Processing Constraints - Confirmation Bias and Cognitive Dissonance
16:49 3 Perception Issues: Halo Effect, Primacy Effect, Recency Effect
23:29 Heuristics Defined "Thinking Fast and Slow"
24:04 Two Types of Thinking - Type 1 (Automatic, non-cognitive)
28:00 Self Preservation Heuristics
28:36 Diversification Heuristics  
30:28 Ambiguity Aversion  
38:48 Law of Small Numbers (myopia or short-sightedness)
44:15 Type 2 Thinking (Cognitive and Requires Effort)

I hope you enjoy the content and learn all about the topic of Behavioral Finance. I've set up the first few podcasts as mini lectures of my Behavioral Finance course that I teach at Butler University each semester. The goal of this podcast is to provide a comprehensive look into the topic of Behavioral Finance - for free!

#behavioralfinance #psychologyofmoney #financialdecisions 

Disclaimer: www.bryanfoltice.com/cv

Support the show

Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter

Bryan Foltice Personal Website - www.bryanfoltice.com
Money Strong Website - www.moneystrong.net

Instagram - www.instagram.com/dr.bryanfoltice
Linkedin - https://www.linkedin.com/in/bryanfoltice

Disclaimer: www.bryanfoltice.com/cv

In this episode, we explore various market observations that challenge semi-strong market efficiency. Here, we learn about six challenges of market efficiency and discuss the three issues to arbitrage exploitation. 

00:00 Introduction 
01:40 Exercise in Market Efficiency - Beauty Contest 
09:48 Market Efficiency Forms (Strong, Semi-Strong, Weak) Review
12:33 Six Challenges to Market Efficiency (Semi-Strong) - #1 Small/Large Cap Stocks
13:48 Challenge #2 - Value/Growth Stocks
15:40 Challenge #3 - P/E Ratios (Low/High Price to Earnings Ratios)
19:18 Challenge #4 - Negative Earnings Momentum 
22:32 Challenge #5 - Momentum Investing  
29:55 Challenge #6 - Contrarian Strategy Investing 
32:17 Market Efficiency and Arbitrage (Risk-Free Profits)
33:15 Three Issues to Arbitrage Exploitation (Fundamental Risk, Noise Trader Risk and Implementation Costs)

Papers Referenced in Podcast

Dolvin S. & Foltice, B. Using Simple Technical Analysis Indicators for Asset Allocation Decisions. Journal of Wealth Management, 24(3), 31-41 (2021). 
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3732822

Foltice, B. & Langer, T. (2015) Profitable momentum trading strategies for individual investors. Financial Markets and Portfolio Management, 29(2), 85-113.
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2420743

Dolvin S. & Foltice, B. “Where Has the Trend Gone? An Update on Momentum Returns in the U.S. Stock Market” with Steven Dolvin. Journal of Wealth Management, 20(2), 29-40 (2017).
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2813333

I hope you enjoy the content and learn all about the topic of Behavioral Finance. I've set up the first few podcasts as mini lectures of my Behavioral Finance course that I teach at Butler University each semester. The goal of this podcast is to provide a comprehensive look into the topic of Behavioral Finance - for free!

Support the show

Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter

Bryan Foltice Personal Website - www.bryanfoltice.com
Money Strong Website - www.moneystrong.net

Instagram - www.instagram.com/dr.bryanfoltice
Linkedin - https://www.linkedin.com/in/bryanfoltice

Disclaimer: www.bryanfoltice.com/cv

In this episode, we continue our deeper dive on Prospect Theory. Here, we learn about framing and mental accounting that comes with our decision-making, in life and finance. 

00:00 Introduction 
01:49 Introduction to Framing - Positive/Negative 
07:16 Auditory Framing
08:28 Visual Framing
11:05 Value Framing
15:44 Mental Accounting - (Sub optimally) Categorizing money, spending or financial events.
23:10 Mental Accounting and Tax Refunds (& House Money Effect)
25:23 Reference Point Dependence 
34:59 Prospect Theory Applied to Horse (and Sports) Betting 1. Favorite/Longshot Bias 2. End of the Day Effect 3. Recency Effect

I hope you enjoy the content and learn all about the topic of Behavioral Finance. I've set up the first few podcasts as mini lectures of my Behavioral Finance course that I teach at Butler University each semester. The goal of this podcast is to provide a comprehensive look into the topic of Behavioral Finance - for free!

Support the show

Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter

Bryan Foltice Personal Website - www.bryanfoltice.com
Money Strong Website - www.moneystrong.net

Instagram - www.instagram.com/dr.bryanfoltice
Linkedin - https://www.linkedin.com/in/bryanfoltice

Disclaimer: www.bryanfoltice.com/cv

In this episode, we continue our conversation on a previous podcast by doing a deeper dive on Prospect Theory. Here, we learn that prospect theory is four-fold and how to understand and use the prospect theory utility function. 

00:00 Introduction 
04:17 Decision #1 - Gain Domain - Risk Averse 
07:06 Decision #2 - Loss Domain - Risk Seeking
10:00 Diminishing Value Sensitivity - Prospect Theory Utility Function
16:19 Four Fold Pattern of Prospect Theory - Decision #3 - Gain Domain
20:34 Four Fold Pattern of Prospect Theory - Decision #4 - Loss Domain
27:53 Integration vs. Segregation - Prospect Theory Utility Function on Multiple Coin Flips

I hope you enjoy the content and learn all about the topic of Behavioral Finance. I've set up the first few podcasts as mini lectures of my Behavioral Finance course that I teach at Butler University each semester. The goal of this podcast is to provide a comprehensive look into the topic of Behavioral Finance - for free!

Support the show

Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter

Bryan Foltice Personal Website - www.bryanfoltice.com
Money Strong Website - www.moneystrong.net

Instagram - www.instagram.com/dr.bryanfoltice
Linkedin - https://www.linkedin.com/in/bryanfoltice

Disclaimer: www.bryanfoltice.com/cv

In this episode, we continue our Introduction to Behavioral Finance by looking at the various forms of market efficiency as well as the challenges to these forms that Behavioral Finance brings. 

00:00 Introduction 
05:09 Capital Asset Pricing Model - Short Review 
11:55 Challenging the Capital Asset Pricing Model (Value = Price Always/Generally)
14:55 Challenge #1 - Why do Some Investors/Trading Strategies Earn Excess Returns?
16:32 Three Major Assumptions in the CAPM Pricing Model
19:04 Three Types of Market Efficiency (Strong, Semi-Strong, Weak)
20:41 Semi-Strong Form Market Efficiency
21:26 Weak Form Market Efficiency
23:48 Challenging Semi-Strong Form Efficiency - Information Paradox 
25:28 Joint Hypothesis Problem

I hope you enjoy the content and learn all about the topic of Behavioral Finance. I've set up the first few podcasts as mini lectures of my Behavioral Finance course that I teach at Butler University each semester. The goal of this podcast is to provide a comprehensive look into the topic of Behavioral Finance - for free!

Support the show

Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter

Bryan Foltice Personal Website - www.bryanfoltice.com
Money Strong Website - www.moneystrong.net

Instagram - www.instagram.com/dr.bryanfoltice
Linkedin - https://www.linkedin.com/in/bryanfoltice

Disclaimer: www.bryanfoltice.com/cv

In this episode, we continue our Introduction to Behavioral Finance, continuing to look at how our decisions sometimes violate rational maximized "utility". 

00:00 Introduction 
03:07 You Are a Sum Total of All Decisions You've Made - Big and Small
09:25 Expected Value Review 
11:22 Violation #2 of Expected Utility - Framing - Using the Allais Paradox
16:32 Violation #3 of Expected Utility - Risk Domain Specificity
18:16 Four Major Domains of Risk Preferences - #1 Financial Decisions
22:18 Don't Get Addicted to Sports Betting - Arbitrage it Instead!
27:20 Risk Domain #2 - Health and Safety
29:25 Risk Domain #3 - Recreational Risk Taking
31:10 Risk Domain #4 - Social Risk Taking

I hope you enjoy the content and learn all about the topic of Behavioral Finance. I've set up the first few podcasts as mini lectures of my Behavioral Finance course that I teach at Butler University each semester. The goal of this podcast is to provide a comprehensive look into the topic of Behavioral Finance - for free!

Support the show

Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter

Bryan Foltice Personal Website - www.bryanfoltice.com
Money Strong Website - www.moneystrong.net

Instagram - www.instagram.com/dr.bryanfoltice
Linkedin - https://www.linkedin.com/in/bryanfoltice

Disclaimer: www.bryanfoltice.com/cv

In this episode, we begin the Behavioral Finance course content with an introduction to Behavioral Finance, starting with a look at how we analyze our utility (read: happiness) and begin to discover how our real-life decisions often violate rational maximized "utility". 

00:00 Introduction 
04:37 Neoclassical Economics - 3 Assumptions of Fully Rational Participants
08:35 What is (Expected) Utility and How do We Calculate It? 
10:30 Let's Make a Deal - St. Petersburg Paradox
20:30 Computing Expected Utility Using "LN" (Natural Logarithm)
24:15 First Violation of Expected Utility - 50/50 Coin Flip
29:12 Loss Aversion Defined & Your Loss Aversion Coefficient

I hope you enjoy the content and learn all about the topic of Behavioral Finance. I've set up the first few podcasts as mini lectures of my Behavioral Finance course that I teach at Butler University each semester. The goal of this podcast is to provide a comprehensive look into the topic of Behavioral Finance - for free!

Disclaimer: www.bryanfoltice.com/cv

Support the show

Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter

Bryan Foltice Personal Website - www.bryanfoltice.com
Money Strong Website - www.moneystrong.net

Instagram - www.instagram.com/dr.bryanfoltice
Linkedin - https://www.linkedin.com/in/bryanfoltice

Disclaimer: www.bryanfoltice.com/cv

Welcome to the Bryan Foltice Behavioral Finance Podcast! I hope you enjoy the content and learn all about the topic of Behavioral Finance. I've set up the first few podcasts as mini lectures of my Behavioral Finance course that I teach at Butler University each semester. The goal of this podcast is to provide a comprehensive look into the topic of Behavioral Finance - for free!

In this first episode, I give you some background of my personal story, from a professional basketball player in Germany to making my own personal finance mistakes in my 20's, to getting a Doctorate in Behavioral Finance in Germany and landing a job as a Finance Professor at Butler University in Indianapolis, Indiana. I also lay out the overall topics and expectations for the upcoming podcasts. 

#behavioralfinance #psychologyofmoney #financialdecisions 

Support the show

Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter

Bryan Foltice Personal Website - www.bryanfoltice.com
Money Strong Website - www.moneystrong.net

Instagram - www.instagram.com/dr.bryanfoltice
Linkedin - https://www.linkedin.com/in/bryanfoltice

Disclaimer: www.bryanfoltice.com/cv