Psychology of Black Friday

Wealth and Black Friday Psychology

As we approach Thanksgiving in the United States, the bustle of life may seem to be slowing. That calm, however, is underscored by the advertising and enticements of retailers hoping to move into the black side of the ledger for the year on the day after the holiday of gratitude. Otherwise known as Black Friday.[…]

Financial Success & A Mindset of Control

Imagine this: it’s the day after Halloween, and you are about to enter your local big-box store retailer. EVERYTHING about the store flashes “SALE!” Who or what is in control of your actions in this situation? Let’s consider two different mindsets and possible outcomes related to how we might approach our shopping trip in this[…]

Changing Attitudes and Behaviors Related to Budgeting

An obvious mechanism to help an individual spend their cash flow in accordance with their financial goals is to employ some sort of budget. But for many of us the idea of constricting any type of behavior, especially the way in which we spend our money, is unpleasant. Even if we label it using the euphemism of[…]

“Leakage” From Retirement Savings Accounts Impair Employee Retirement Prospects and Employer Bottom Line. What to Do?

The gradual migration away from the traditional defined benefit pension plan and toward the new-normal of the defined contribution 401(k) plan is on its surface a paradigm shift that can only be good for corporate profits … right? Undoubtedly the offloading of the burdensome pension liability that employers previously shouldered to the ranks of employees is[…]

Consumption: Full Speed Ahead?

If part of your work involves educating others on how consumption can affect their ability to build and maintain wealth, looking for outside patterns of data and trends might be a way to bring an “ah-ha” moment to clients, children, friends, or family members. A string of articles in yesterday’s Wall Street Journal wove an[…]