Here’s the one behavior that quietly sabotages your money decisions and how to avoid it.
Transcript:
CAROLINE WOODS: So what would you say is one small behavior shift that people can make that will make a big impact on their finances?
CARL RICHARDS: Is the smallest, simplest thing you can do is also the hardest, I think. And this often sounds – it almost sounds so easy that it’s so simple that it’s silly. But just learning to pause, right? Learning to take almost nothing you will do with your money, right? For for the average person out there that doesn’t do this professionally, almost nothing you will do with your money is an emergency, especially on the investment side. Like just learning to pause and get clear about, like, why am I doing this. Am I reacting to something my neighbor said. Am I thinking about something that I have no control over. Just just simple awareness around putting a little bit of space between the stimulus and the response. Right and learning just to create a little bit of space, you’ll make much more aligned. And I think much better decisions if you can do that.
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