Bryan Foltice Behavioral Finance podcast

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The Zeigarnik Effect: Unlocking the Power of Unfinished Tasks 21:59

5 hari yang lalu21:59

21:59

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 Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…

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Building Your Safety Net: The Importance of a Flexibility Fund 19:57

12 hari yang lalu19:57

19:57

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 Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…

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Murphy’s Fund: The First Step to Financial Stability 20:09

19 hari yang lalu20:09

20:09

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 Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…

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The Winner's Curse: When Winning Is Actually Losing 19:46

26 hari yang lalu19:46

19:46

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 Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…

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From Gridiron to Portfolio: The Super Bowl Effect Explored 20:10

5 weeks yang lalu20:10

20:10

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 Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…

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Steps to Successful Financial Planning in 2025 20:22

6 weeks yang lalu20:22

20:22

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 Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…

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Navigating the Mere Urgency Effect: Balancing Urgency and Importance 19:59

7 weeks yang lalu19:59

19:59

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 Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…

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SMART Goals in Financial Planning for the Future in 2025 20:22

8 weeks yang lalu20:22

20:22

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 Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…

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Using Pareto's Principle (80:20 Rule) in the New Year 20:33

9 weeks yang lalu20:33

20:33

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 Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…

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Money Strong with Randy Brown: Butler's Initiative on Financial Education for All Students 36:21

25 weeks yang lalu36:21

36:21

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 Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…

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Episode 38: Three Untold Truths of Starting Your Own Business 20:15

26 weeks yang lalu20:15

20:15

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 Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…

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Episode 37: Master Your Estimates: Understanding and Overcoming the Planning Fallacy 16:38

27 weeks yang lalu16:38

16:38

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 Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…

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Episode 36: The Carry Trade Unveiled: Impacts on Global Markets 13:13

31 weeks yang lalu13:13

13:13

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 Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…

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Episode 35: Seeing Clearly: Understanding the Bias Blind Spot 26:55

32 weeks yang lalu26:55

26:55

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 Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…

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Episode 34: Behavioral Finance Insights: Weighing Active Management and Index Investments 24:26

36 weeks yang lalu24:26

24:26

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 Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…

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