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[…]

Behavioral Science and The Job of Financial Management

Back in 1999, I worked as a consultant to a large fiber-optic cable company that was staffing a new plant in Pennsylvania. For months, our crew of grad students and industrial psychologists administered validated tests, interviews, and work samples to thousands of potential candidates to fill manufacturing roles. In the work sample, applicants had to coil[…]

A New Home for The Millionaire Next Door

Always a teacher, my father loved uncovering hidden trends in the economy, in consumer behavior, and in marketing research, and then sharing them with others. He loved reading articles in newspapers, cutting them out, making notes all over the margins, and then turning those findings into essays on how individuals approach money. I would share[…]