Money Management

When Have You Played the Financial Fool?

It’s the day after April Fool’s Day, but a family emergency prevented me from posting this on the actual day of fools so I’m posting it anyway. This is all about the times I’ve been a financial fool. Some of them are doozies. Not Selling a Stock When I Knew I Should This one goes all the way back to 1999 and the days of the tech bubble.…
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Goal Motivation: the Carrot or the StickK

For the last several months, I’ve been hearing about this theory that the risk of losing money can be more motivating than the prospect of winning money. Last week, NPR reported on a website based on the theory. It was developed by two Yale professors and is called StickK. I’ll explain how it works. The Stick Theory of Goal Motivation Many people use positive reinforcement to reach their goals,…
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