Financial decisions

Self-Serving Bias

Self-Serving Bias

Recognizing the tendency to credit personal strategies for gains and blame external factors for losses helps in making more balanced and informed financial choices.
Loss Aversion

Loss Aversion

Understanding loss aversion can help you make more rational investment choices and avoid emotional decision-making based on potential losses.
10-10-10 Rule

10-10-10 Rule

When deciding whether to make a large purchase, consider the impact on your finances in the short term, medium term, and long term.

Similar Situations

Ikigai

Ikigai

Financial planning: Considering your Ikigai can help you make more thoughtful financial decisions that align with your values and long-term goals.
Framing Effect

Framing Effect

Making financial decisions: Being aware of the framing effect can help you avoid being swayed by how financial options are presented.
Flea In a Jar

Flea In a Jar

Financial Recovery After Debt: Poor financial decisions don’t define your future. Learning and discipline can build a new path.
The Barber Paradox

The Barber Paradox

Personal finance: Making sound financial decisions using logical reasoning and assessment of risk and reward.
Cynefin Framework

Cynefin Framework

Managing personal finances: Determine the appropriate level of financial knowledge and expertise needed to make sound decisions.
Bandwagon Effect

Bandwagon Effect

Investment decisions: Understanding the bandwagon effect can help you make more rational financial choices, avoiding the temptation to jump on trending investments without thorough research.
Clustering Bias/Illusion

Clustering Bias/Illusion

Financial investments: Recognizing clustering bias can help you make more informed investment decisions, without assuming that a series of gains or losses indicates a trend.
Confirmation Bias

Confirmation Bias

Making financial decisions: Understanding confirmation bias can help you avoid relying solely on information that supports your existing beliefs about investments.
Correlation-Causation Fallacy

Correlation-Causation Fallacy

Financial investments: Understanding the correlation-causation fallacy can help you make better investment decisions by not assuming that a correlation between two variables necessarily implies a causal relationship.
Sunk Cost Fallacy

Sunk Cost Fallacy

Financial investments: Understanding the sunk cost fallacy can help you make more rational investment decisions, letting go of poorly performing assets without being influenced by prior investments.