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Say you put $1,000 in a savings account with a 1% APY in 2023. ... ask yourself why — or seek out an unbiased professional for another perspective. 7. You silo your money — at all costs ...
Most of us have made poor financial choices at one point or another. Maybe you have fallen victim to the lure of free shipping if you order a certain amount, or perhaps you just can't resist the...
Watch Out: Dave Ramsey: 7 Vacation Splurges That Are a Waste of Money. 2. Bad Budgeting. Whether you use a 50-30-20 rule or ruthlessly track every penny that comes and goes, it’s essential to ...
After battling inflation, rising interest rates, and a volatile stock market over the past couple of years, you may be worried about preserving your hard-earned money. Where can you stash cash and...
Financial mismanagement is management that, deliberately or not, is handled in a way that can be characterized as "wrong, bad, careless, inefficient or incompetent" and that will reflect negatively upon the financial standing of a business or individual. [1] There are many ways of how financial mismanagement is carried out.
Escalation of commitment can many times cause behavior change by means of locking into resources. One of the first examples of escalation of commitment was described by George Ball, who wrote to President Lyndon Johnson to explain to him the predictions of the war outcome: [1] The decision you face now is crucial.
Loss aversion coupled with myopia has been shown to explain macroeconomic phenomena, such as the equity premium puzzle. [17] Loss aversion to kinship is an explanation for aversion to inheritance tax. [18]
Your App Addiction. In the list of things to waste money on, smartphone apps are a big one. Those $1.99 purchases seem inexpensive enough, but they can snowball -- especially if you have kids who ...