Fairness is emotionally rewarding, a study finds

Fairness is emotionally rewarding, a study finds - Los Angeles Times
Linked above is an article on another interesting study on how we are neurologically wired about money issues. The research was done at UCLA’s Semel Institute for Neuroscience and Human Behavior to measure how our brains react to financial situations that would be considered “fair” [...]

5 Ways our Brain Works to Wreck our Finances

1. Redefining Needs
 
Perhaps it’s marketing or perhaps it is our culture, but we’ve gone from wanting certain possessions to NEEDING them.  Whether it’s a top model car or a specialty coffee, we confuse the difference between wants and needs.  We only really NEED food, shelter, companionship, and a job to pay for the food and [...]

Scapegoating the Credit Card Industry

While the review itself is on the later side, I’m happy at this review I found for the movie “Maxed Out: Hard Times, Easy Credit and the Era of Predatory Lenders” because it deals with an important aspect of psychology and finances.
 
For those of you who don’t know, MaxedOut is one of the many documentaries [...]

Neuroscience of Retail

I would like to highlight a few of the findings on how much research retail companies put into their effort to discover what the customer wants to buy:

A university study recently published in Psychological Science magazine revealed people are willing to pay up to 4 times more for an object after they are shown a [...]

Separating necessities and luxuries

Memorial Day Weekend is almost over. Are you satisfied with however much money you spent for it?
$4 gas prices have significantly affected people’s spending habits in a way that hitting the $3 mark didn’t, Marketwatch says. There are articles all over describing how people have been trying to save money on Memorial Day [...]

Depression and Finances: Can Money Buy Happiness?

 Can Money Buy Happiness?
 We’ve spoken a bit in this blog about how the brain can effect our financial decisions, but what about hour our financial health can effect our mental health?
Make Love, Not Debt bills itself as a Relationship Finance blog.  It’s a bold statement, but at the same time an interesting perspective to take.  [...]

Addictions – Fatty Foods

 
We’ve looked at the addiction to caffeine, but are there other addictions that impact our financial and physical health?
 
When people are stressed, often we turn to our comfort foods.  Foods that might help bring up happy memories, or just ones that we associate with relaxation.
 
A lot of food companies try to tap into this as [...]

Gardening is good for the mind, body, and pocketbook

My garden is just getting into full swing. The lettuce and spinach are just about ready to pick; the onions and leeks are slender versions of their mature selves; the carrots and dill are putting out their delicate foliage. I’ve got squash and melon plants waiting for slightly warmer weather, but when that warmer [...]

Empowerment leads to better mental performance

A study in the May issue of Psychological Science looked at people’s cognitive performance when they were feeling high or low in personal power. Smith, Jostmann, Galinsky, and van Dijk randomly assigned participants to a low-power or high-power group and then tested their executive functions, processes in the brain that guide behavior according to one’s [...]

Why does negativity sell?

This is a rant and a question about something that really bugs me. I spend quite a bit of time reading financial news, primarily on the Internet, and I am struck by how much writers and commenters wish for bad economic news, the worse the better. It is a widely accepted belief that if you [...]

Investment perspective redux

“We’re putting all our spare cash into the stock market right now,” my coworker M said to me not long ago. “I figure that it’s cheap to buy right now, and prices are bound to go up.”
“We had twelve thousand dollars in the stock market,” my friend J said to me not long ago. “Then [...]

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Personal Neurofinance Blog by Ivan Widjaya is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 Unported License. Based on a work at www.moneyandminds.com. Permissions beyond the scope of this license may be available at http://www.moneyandminds.com.

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