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Common Financial Biases & Mistakes

Why Do We Follow the Crowd in the Stock Market? Unpacking Impulse Spending: What It Is and How to Avoid It Emotional Shopping Triggers: Understand Why You Buy Impulsively The “Joneses Effect“: Why Comparing Finances Can Hurt Your Wealth Anchoring Effect: Why Your First Budget Number Might Be Wrong Availability Bias: Why Scary Headlines Inflate Rare Financial Risk Familiarity Bias: Why “Homegrown” Investments Can Hurt Diversification Taming Your Impulses: Identifying and Overcoming Self-Control Spending Biases Hindsight Bias: Why “I Knew It All Along“ Hurts Your Finances How Your Brain Tricks You Into Debt: Dissonance and Justification