Here’s a great thing to stumble across on a Sunday afternoon when a good nap seems in order.  There is now more evidence that sufficient sleep can support our quest for positive financial outcomes. Just a few short weeks ago, I mentioned how the functioning of the frontal lobes is disrupted when we are sleep-deprived, […]

When we’re trying to change a difficult financial behavior, the obvious question we ask ourselves is “What is getting in the way of doing the right thing?”  This helps us identify and problem-solve around barriers and obstacles. What we often forget, though, is another question that is equally important: “What is allowing the wrong behavior […]

Let’s face it.  Sometimes we just want our self-control to come from the outside, because when we check out our internal supply, we see that the fuel gauge reads “empty.” Consider the “Mother Bear” wallet, designed by John Kestner, a graduate student at the Massachusetts Institute of Technology.  Kestner realizes that it is easy for […]

It’s December.  Here in the upper Midwest, that makes it “soup weather.” And that reminds me of one of my favorite psychological experiments.  It’s probably one of the best pieces of research ever done to demonstrate the concept of mindlessness (the state of doing things on auto-pilot, without using conscious thought to guide our actions). […]

You might be used to that question from the grocery store check-out lane, but what’s the right answer when it comes to your money management: Pay with paper money or with plastic credit cards? It turns out that it is easier to monitor the use of cash than the use of credit. Economics professor Robert […]