Nudging Financial Behaviour

Behavioural biases unpacked - Episode 10 | Season 1

We made it to the end of season 1! In this episode, we recap our discussions on the behavioural biases we’ve discussed so far. We also bring back all of our experts – they had to have the final word, of course!
You’re in for a treat as they give personal stories of their own financial mistakes and how they fell prey to behavioural biases. It’s really good to know that we’re not alone!
Special thank you to everyone who helped put season 1 of the Nudging Financial Behaviour podcast together – especially our sponsors, IG Markets South Africa. Thanks to all of our guests throughout the season. And finally, thank you to everyone who listened.
Be sure to subscribe to the channel because we’re coming back next year with season 2!
 
You can also read more on my blog: https://www.nudgingfinancialbehaviour.com/behavioural-biases-unpacked/    
Or watch to the video version of this podcast episode: https://youtu.be/6mHIP6LDviY
 
Special thanks to everyone who has helped put this series together:    
Our sponsors: IG Markets South Africa 
Producer: Faeron Wheeler of F Creations   
Music by: Neil Leachman   
Sound recording and mixing: Giovanni Serci of Soundcast Studios   
Video and editing: Kyle Wesson   
Hair and makeup: Ida Webster   
Set styling: Michelle Murray of Interiors Etc. 
Voice over: Sizo Mphti

Trailer for Episode 10 - Behavioural biases unpacked

Get ready for the final episode of season 1 of the Nudging Financial Behaviour podcast. We’re recapping everything we discussed, and we have all of our experts back for some more input and some personal stories of their own financial mistakes.

Anchoring Bias - Episode 9 | Season 1

The anchoring bias is a fascinating one, and part of the human psyche that is sometimes quite hard to understand. We get ourselves anchored to pieces of information that may or may not have any bearing on the facts and the decision we need to make. 
To help unpack anchoring bias and how we can try to be aware of it in our lives, we talk to Louise Bedford. Louise is a best-selling author from Australia, a trading mentor and she hosts her own podcast – Talking Trading. It’s safe to say that Louise knows what she’s talking about on the topic.
 
Useful links: 
More about our guest Louise Bedford: https://www.tradinggame.com.au/about-us/louise-bedford/  
The study done on anchoring: https://www.jstor.org/stable/10.1086/425103?seq=1#metadata_info_tab_contents  
 
You can also read more on my blog: https://www.nudgingfinancialbehaviour.com/the-anchored-trader/
Or watch to the video version of this podcast episode: https://youtu.be/P0nRZlu1sFA
 
Special thanks to everyone who has helped put this series together:     
Our sponsors: IG Markets South Africa     
Producer: Faeron Wheeler of F Creations     
Music by: Neil Leachman     
Sound recording and mixing: Giovanni Serci of Soundcast Studios     
Video and editing: Kyle Wesson     
Hair and makeup: Ida Webster     
Set styling: Michelle Murray of Interiors Etc.   
Voice over: Sizo Mphti 

Trailer for Episode 9 - Anchoring Bias

In episode 9 of the Nudging Financial Behaviour podcast, we’re talking about anchoring. Make sure you catch this fascinating discussion. We’re joined by guest Louise Bedford – trading mentor, author and host of her own podcast, Talking Trading.

The Framing Effect - Episode 8 | Season 1

Welcome to our discussion on the framing effect. This bias is all about giving context to information – something that we require in order to understand the information we’re receiving. The problem with framing is that it can be done maliciously to make a decision that’s not in your favour. If you change the context or the frame surrounding a piece of information, you could easily make a different decision.
Our guest for episode 8 is Louis van der Merwe – a certified financial planner and host of his own podcast, Ensombl Advice South Africa. We chat particularly about narrow framing in investments and how important it is to look at your portfolio as a whole rather than each individual share or investment. 
 
Useful links: 
More about Louis van der Merwe and his podcast Ensombl Advice South Africa: https://linktr.ee/louisvdmerwe  
The full Daniel Kahneman interview: https://www.youtube.com/watch?v=Kpev-Lb0EAg 
More on creating frameworks for money decisions: https://www.startribune.com/to-make-better-money-decisions-try-framing-the-issues/307168111/?refresh=true  
 
You can also read more on my blog: https://www.nudgingfinancialbehaviour.com/narrow-framing/ 
Or watch to the video version of this podcast episode: https://youtu.be/RhPYfYHsAmM  
 
Special thanks to everyone who has helped put this series together:     
Our sponsors: IG Markets South Africa     
Producer: Faeron Wheeler of F Creations     
Music by: Neil Leachman     
Sound recording and mixing: Giovanni Serci of Soundcast Studios    
Video and editing: Kyle Wesson     
Hair and makeup: Ida Webster     
Set styling: Michelle Murray of Interiors Etc.   
Voice over: Sizo Mphti   

Trailer for Episode 8 - The Framing Effect

Episode 8 – the framing effect – is coming soon! 
In this episode of Nudging Financial Behaviour, we talk about what framing is and why it’s important to be aware of. We also chat to certified financial planner, Louis van der Merwe.

Confirmation Bias - Episode 7 | Season 1

Confirmation bias plays a massive part in the way we all think and make decisions. In this episode, we’re delving into what this bias actually is and how to recognise it in ourselves. It’s so important to be able to spot confirmation bias at play because we can miss a lot when we aren’t aware of it. 
To help us get a better understanding of how we all fall prey to confirmation bias, we chat to Rachel Alberts – digital media lead at a top South African retailer. The social media echo chamber effect is a big talking point and shows us just how easy it is to fall into a feedback loop that continually confirms your beliefs. Rachel also gives us some great tips on how to break out of the echo chamber.
 
Useful links: 
A link to the graph mentioned about cognitive dissonance: https://www.nudgingfinancialbehaviour.com/the-social-media-echo-chamber/#CD  
Useful tips for beating confirmation bias: https://www.youtube.com/watch?v=xwZj_72Mawk 
More on the social media echo chamber effect: https://www.wired.com/story/facebook-twitter-echo-chamber-confirmation-bias/
 
You can also read more on my blog: https://www.nudgingfinancialbehaviour.com/the-social-media-echo-chamber/    
Or watch to the video version of this podcast episode: https://youtu.be/g6PTSP1LCRk 
 
Special thanks to everyone who has helped put this series together:     
Our sponsors: IG Markets South Africa     
Producer: Faeron Wheeler of F Creations
Music by: Neil Leachman
Sound recording and mixing: Giovanni Serci of Soundcast Studios     
Video and editing: Kyle Wesson
Hair and makeup: Ida Webster 
Set styling: Michelle Murray of Interiors Etc.   
Voice over: Sizo Mphti   

Trailer for Episode 7 - Confirmation Bias

It’s almost time for episode 7 of the Nudging Financial Behaviour podcast! 
In this episode, we’re delving into confirmation bias and chatting to social media expert Rachel Alberts about the echo chamber effect.

Overconfidence Bias - Episode 6 | Season 1

Overconfidence – that feeling that you can do no wrong and your decisions will always work out for you. This is what we’re unpacking in this episode of the Nudging Financial Behaviour podcast. Overconfidence bias is a tricky one because there can be a fine line between confidence and overconfidence. The problem is, one is good for you and the other can be very harmful.
Our guest in this episode is Professor Philip Fernbach – academic and cognitive scientist at the Leeds School of Business in the University of Colorado, Boulder. Philip is also the co-director of the Center for Research on Consumer Financial Decision Making. He gives us some great insights into overconfidence and how to combat this bias.
 
Useful links: 
An article on Professor Philip Fernbach’s overconfidence study – https://www.colorado.edu/today/2021/09/07/overconfidence-bad-your-wealth 
More from Dick Fuld’s testimony on the Lehman Brothers collapse - https://www.youtube.com/watch?v=2yCnvxsWfDY  
More on that study about lottery tickets - https://www.cambridge.org/core/journals/judgment-and-decision-making/article/representativeness-heuristic-and-the-choice-of-lottery-tickets-a-field-experiment/63294E0987CFDF01F565CEDC716B21AC 
 
You can also read more on my blog: https://www.nudgingfinancialbehaviour.com/the-overconfident-investor/ 
Or watch to the video version of this podcast episode: https://youtu.be/K_oyZHHDoBo
 
Special thanks to everyone who has helped put this series together:     
Our sponsors: IG Markets South Africa     
Producer: Faeron Wheeler of F Creations     
Music by: Neil Leachman     
Sound recording and mixing: Giovanni Serci of Soundcast Studios
Video and editing: Kyle Wesson     
Hair and makeup: Ida Webster
Set styling: Michelle Murray of Interiors Etc.
Voice over: Sizo Mphti 

Trailer for Episode 6 - Overconfidence bias

Episode 6 of the Nudging Financial Behaviour podcast will be out soon! 
Get ready to start a deep dive into the actual biases that impact our behaviour and decision-making abilities as we take a look at overconfidence bias.