Finura Director, Nathan Mead-Wellings, talks to Money Marketing magazine about behavioural science in the context of financial planning.
One way of trying to reach a decision on something is to write a list of all the pros and cons of the action you are contemplating, then weigh them up accordingly. This requires honesty and objectivity.
However, everything you put on that list is inevitably shaped by your perceptions and experiences – all the things that make you who you are. So, when one column on your list is clearly longer than the other and pointing you towards that particular path, how do you know the facts of the situation are really speaking for themselves? Is there any chance you may have unconsciously filtered some out?
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