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Tag: hardwired

Why you're hardwired to be bad at money

Why you're hardwired to be bad at money

Finance
How to save $ 1,000 this yearWhy are money decisions so stressful? No, it's not because you're broke. It's because your brain is fundamentally challenged when it comes to financial choices, according to neuroscience. And going it alone only makes it worse. "Our brains are really good at avoiding major risks and keeping ourselves alive," says Dr. Sam Barnett, a neuroscientist at Think Alike Labs and chief executive of SBB Research, a quantitative investment firm, who was the lead researcher. "Our brains were not designed to make the kind of complex decisions our financial realities demand, the kind that have many correct answers." There isn't just one right way to save money, for example. You could put your money in a shoe box, a high-yield savings account or a money market fund and each...