Nudging Financial Behaviour

System 1 and System 2 - Episode 5 | Season 1

At last! We’re beginning our discussion on the actual biases that impact our behaviour and decision-making abilities. In this episode, we delve into what biases actually are and explore some psychology around how our brains process information.
We thought it would be a good idea to start this discussion around biases with explaining Daniel Kahneman’s concept of System 1 and System 2 thinking. To help with unpacking this, we brought in Dr Daniel Crosby, a psychologist and New York Times best-selling author, as our guest. He’s also the host of his own podcast, called Standard Deviations.
 
Useful links: 
Buy the book - Thinking, Fast and Slow by Daniel Kahneman: 
https://www.takealot.com/thinking-fast-and-slow/PLID19456785 
https://www.amazon.com/Thinking-Fast-Slow-Daniel-Kahneman/dp/0374533555 
 
A great breakdown of the biases that I refer to regularly when lecturing: https://www.youtube.com/watch?v=uqXVAo7dVRU 
 
A little more about Dr Daniel Crosby: 
https://www.standarddeviationspod.com/ 
https://www.amazon.com/stores/Daniel-Crosby/author/B00O72MW1W?ref=ap_rdr&store_ref=ap_rdr&isDramIntegrated=true&shoppingPortalEnabled=true
 
You can also read more on my blog: https://www.nudgingfinancialbehaviour.com/system-1-and-system-2/  
Or watch to the video version of this podcast episode: https://youtu.be/9qa45_juNS4
 
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 5 - System 1 and System 2

Episode 5 of the Nudging Financial Behaviour podcast is coming soon!    
We’re exploring what behavioural biases actually are and delving into the notion of System 1 and System 2 thinking with the help of Dr Daniel Crosby.

Have a plan - Episode 4 | Season 1

We’re wrapping up our discussion on the common pitfalls that land so many of us in financial trouble. In this episode, we look briefly at irrational behaviour – there’ll be a lot more on this in the rest of the season. Then, we unpack risk aversion, lack of motivation and poor planning. 
To help with the unpacking, our guest for the episode is Dirk Groeneveld, a certified financial planner with Client Care. It’s great to get insights from someone who deals with everyday people every day – he really understands how our personalities and our personal history with money can impact how we make decisions about our finances.
You can also read more on my blog: https://www.nudgingfinancialbehaviour.com/failing-to-plan-is-planning-to-fail/
Or watch to the video version of this podcast episode: https://youtu.be/721q25ICeak
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 4 - Have a plan

In this episode, we explore the final 4 common pitfalls for financial trouble – irrational behaviour, risk aversion, lack of motivation and poor planning. We also chat to financial planner Dirk Groeneveld.

Managing debt - Episode 3 | Season 1

We take a look at three more financial pitfalls in this episode. They are overconsumption or lifestyle creep, debt and insufficient savings. These three often go hand in hand – you get into debt because you’re trying to cover your lifestyle creep, and then you’re too busy focusing on paying off that debt rather than looking at your savings. 
Debt spirals can be very scary, and it can be incredibly hard to see your way out of them. That’s why we got Nadia de Weerdt, a registered debt counsellor and Western Cape representative for DCASA, to chat to us about how to handle debt. She also gives some great tips on how to avoid getting into bad debt. 
 
Useful links: 
The Debt Counsellors Association of South Africa (DCASA) - https://www.dcasa.co.za/ 
The Financial Sector Conduct Authority (FSCA) - www.FSCA.co.za 
 
You can also read more on my blog: https://www.nudgingfinancialbehaviour.com/how-to-manage-your-debt/ 
Or watch to the video version of this podcast episode: https://youtu.be/5MjfPT8tM8c 
 
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 3 - Managing debt

Episode 3 is coming soon!  
In our discussion around debt and how to manage it, we chat to registered debt counsellor and Western Cape representative for DCASA Nadia de Weerdt.

Financial Literacy - Episode 2 | Season 1

In this episode, we start our discussion on the most common pitfalls that we all encounter when it comes to managing our money. I’ve dedicated the entire episode to one of the biggest pitfalls there is – financial illiteracy. 
To help you get to grips with the topic, I chat to certified financial planner Wynand Gouws. He works for the award-winning Gradidge Mahura Investments. It’s great to get his perspective on just how pervasive financial illiteracy really is. He works with clients from a wide range of different backgrounds and education levels – and many of them struggle with understanding the basic concepts of financial literacy. 
If you’re interested in reading more about the studies and reports I mention, you can find them here: http://www.brightrock.co.za/content/downloads/fsbfinancialliteracyinsa.pdf 
https://businesstech.co.za/news/lifestyle/665081/price-shock-for-south-africa-as-food-inflation-hits-highest-point-in-14-years/ 
If you’d like to get your hands on Wynand Gouws’ new book To 100 & Beyond, you can find where to buy it here: https://www.penguinrandomhouse.co.za/book/100-beyond-how-make-your-money-last-long-you-do/9781776390267  
You can also read more on my blog: https://www.nudgingfinancialbehaviour.com/inflation-and-compound-interest/ 
Or watch to the video version of this podcast: https://www.youtube.com/@NudgingFinancialBehaviour  
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 2 - Financial literacy

Episode 2 is coming soon!
In our discussion of financial literacy, we chat to financial planner Wynand Gouws from Gradidge Mahura Investments.

Welcome to the Nudging Financial Behaviour Podcast - Episode 1 | Season 1

In this podcast, you’ll learn all about what really impacts the way we make decisions – in particular, decisions about our finances. It’s a deep dive into behavioural finance and how this academic field of study can be applied to everyday money decisions. 
In episode one, we’re focusing on getting to know each other and the subject matter. You’ll learn some of my background as an academic and professor at the University of Cape Town. I also run my own company called, you guessed it, Nudging Financial Behaviour. 
As part of the getting to know you phase, I speak to Rob van Eyden in this episode. Rob is the CEO of IG Markets South Africa, who is also the sponsor for this podcast. I also hit the streets to find out what people know about behavioural biases. 
You can also read more on my blog: https://www.nudgingfinancialbehaviour.com/behavioural-finance-podcast/ 
Or watch to the video version of this podcast: https://www.youtube.com/@NudgingFinancialBehaviour 
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 1 - Welcome to Nudging Financial Behaviour

The very first episode of Nudging Financial Behaviour is coming soon!
Featuring guest Rob van Eyden, CEO of IG Markets South Africa and our sponsor for this podcast.