Money Strong Personal Finance podcast

18:06

Understanding Ambiguity Aversion: How Uncertainty Affects Financial Decisions In this episode of the Money Strong podcast, hosted by Dr. Bryan Foltice, we dive into the concept of ambiguity aversion as part of our Psychology Saturday segment. Bryan explains how individuals prefer known risks over uncertain outcomes and how this affects various aspects of financial decision-making, from stock market behavior to personal finance choices. Real-life examples include investment preferences, insurance purchases, and career decisions. Bryan also shares his personal experiences and offers practical steps to help listeners overcome ambiguity aversion and make more informed financial choices. Tune in for insights and actionable advice to enhance your financial well-being. 00:00 Introduction to Psychology Saturday 01:42 Understanding Ambiguity Aversion 03:36 Ambiguity Aversion in Finance 07:27 Ambiguity Aversion in Personal Decisions 11:20 Overcoming Ambiguity Aversion 16:54 Conclusion and Call to Action You can also find more information and free resources at www.bryanfoltice.com and at www.moneystrong.net. Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…

Money Strong Personal Finance Podcast

1
Achieving Financial Independence: An In-Depth Look at Its Four Levels 18:17

8 днів тому18:17

18:17

Understanding Financial Independence: Breaking Down the Four Levels In this episode of the Money Strong Money Monday podcast, hosted by Dr. Bryan Foltice, the focus is on clarifying the concept of financial independence. Bryan introduces a four-level framework to help listeners understand and navigate their journey toward financial independence. He starts by defining Level 1 as the stage where individuals work to get out of debt and build an emergency fund. Level 2 involves generating passive income through assets like real estate and stocks. Reaching Level 3 means passive income exceeds expenses, allowing more financial freedom. Finally, Level 4 represents ultimate financial flexibility, where income surpasses all expenses by a significant margin. Bryan also encourages listeners to engage with Money Strong's online resources, including their educational programs and social media channels. 00:00 Welcome to Money Strong Money Monday 00:21 Introduction to Financial Independence 00:49 Money Strong Programs and Offers 02:39 Understanding Financial Independence Levels 05:02 Level 1: Ground Level Starting Line 06:42 Level 2: Building Passive Income and Wealth 09:36 Level 3: Passive Income Outweighs Expenses 14:43 Level 4: Ultimate Financial Flexibility 16:16 Conclusion and Final Thoughts You can also find more information and free resources at www.bryanfoltice.com and at www.moneystrong.net. Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…

Money Strong Personal Finance Podcast

1
The Psychology of Money: Mental Accounting Explained 20:51

10 днів тому20:51

20:51

Understanding Mental Accounting: Avoiding Common Financial Pitfalls In this episode of the Money Strong Personal and Behavioral Finance podcast, host Dr. Bryan Foltice introduces 'Psychological Saturday' with a deep dive into mental accounting. Learn how categorizing money in different areas can lead to both optimal and suboptimal financial decisions. This episode covers how we categorize our investments, income, and financial events, and explores concepts from prospect theory, loss aversion, and the sunk cost fallacy. Bryan also highlights the tendency to overweight low probabilities and offers tips on making better financial decisions. Tune in for insights that could transform your approach to personal finance. Visit www.MoneyStrong.net and connect on social media for more financial advice and resources. 00:00 Introduction to Mental Accounting 00:59 Behavioral Finance Concepts 02:12 Categorizing Investments and Income 06:03 Categorizing Spending 11:06 Categorizing Financial Events 16:48 Overweighting Low Probabilities 18:39 Conclusion and Further Learning You can also find more information and free resources at www.bryanfoltice.com and at www.moneystrong.net. Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…

Money Strong Personal Finance Podcast

1
Side Hustles: Pathway to Financial Freedom or Recipe for Burnout? 21:08

15 днів тому21:08

21:08

Side Hustles: Should You Have One? Exploring All Angles Welcome to the Money Strong Personal Finance podcast! Join Dr. Bryan Foltice as he delves into the heated debate around side hustles. Discover the pros and cons, various types of side hustles, and key considerations for deciding when and if you should take on a side gig. Bryan shares personal anecdotes and statistical insights, all while maintaining a balanced viewpoint to help you make an informed decision about your financial future. Tune in and learn how side hustles can help you achieve your financial goals, or if they might lead you to burnout. 00:00 Introduction to the Podcast 00:48 Updates and Announcements 02:24 The Side Hustle Debate 07:30 Types of Side Hustles 14:41 When Not to Pursue a Side Hustle 19:30 Conclusion and Final Thoughts You can also find more information and free resources at www.bryanfoltice.com and at www.moneystrong.net. Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…

Money Strong Personal Finance Podcast

1
Four Roadblocks to Long-Term Financial Success and How to Conquer Them 24:46

21 день тому24:46

24:46

Overcoming Financial Planning Obstacles: 4 Common Pitfalls and How to Avoid Them | Money Strong Podcast In this episode of the Money Strong Podcast, host Bryan Foltice discusses the key reasons why many people struggle with long-term financial planning. He outlines four major obstacles: not starting at all, quitting after setbacks, creating unsustainable plans, and losing motivation. Bryan shares strategies to overcome these hurdles by breaking down financial goals into manageable steps, maintaining consistency, and building sustainable plans. He also highlights the importance of community support and mental resilience in achieving financial success. Tune in for actionable advice and frameworks to strengthen your financial future. 00:00 Introduction and Podcast Overview 00:40 End of School Year Reflections 01:54 Transition to Summer Mode 02:26 Why We Fail at Financial Planning 02:44 Reason 1: Not Starting - Due to Being Overwhelmed & Opening Accounts 09:22 Reason 2: Quitting After Setbacks 14:28 Reason 3: Unsustainable Plans 19:46 Reason 4: Losing Motivation 22:27 Conclusion and Call to Action Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…

Money Strong Personal Finance Podcast

1
Turning Losses Into Lessons: A Guide Through Stock Market Corrections in 2025 21:43

28 днів тому21:43

21:43

Navigating Stock Market Corrections: Lessons in Emotion, Timing, and Diversification In this episode of the Money Strong Podcast, host Bryan Foltice discusses the recent stock market correction of 2025. Bryan delves into the importance of remaining unemotional during market downturns and views these periods as buying opportunities. He emphasizes key lessons in managing emotions, understanding time horizons for investments, and the critical role of diversification. Bryan shares his personal experience with loss aversion and offers practical advice on rebalancing portfolios to mitigate risks. Watch and learn how to navigate financial turbulence with a balanced and informed approach. 00:00 Introduction to the Money Strong Podcast 00:48 Reflecting on Recent Market Performance 01:38 Understanding Emotional Reactions 03:38 Lessons from Market Corrections 08:48 The Importance of Time Horizon 11:53 Diversification Strategies 16:13 Rebalancing Your Portfolio 20:33 Final Thoughts and Viewer Engagement Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…

Money Strong Personal Finance Podcast

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Mastering Money Talks: 10 Keys to Discussing Finances with Your Partner 26:01

5 weeks тому26:01

26:01

10 Keys to Improve Financial Communication with Your Partner Join Bryan Foltice in the Money Strong Personal Finance Podcast as he discusses how to effectively talk about money with your significant other. This episode dives into 10 key strategies to help build a stronger relationship through financial conversations. Topics include setting regular financial check-ins, maintaining transparency, working as a team, and celebrating milestones together. Bryan also shares his personal experiences and valuable insights into creating a harmonious financial partnership. 1. Set a Regular Money Date Schedule a relaxed time (weekly, biweekly, or monthly) to discuss finances. Keep it low-pressure—maybe over coffee or dinner. 2. Be Honest and Transparent Share your income, expenses, debts, and financial goals. Avoid hiding purchases or financial decisions. 3. Focus on Teamwork, Not Blame Approach money as a team effort rather than pointing fingers. Use "we" statements instead of "you" (e.g., "How can we improve our savings?" instead of "You need to stop spending so much"). 4. Define Shared Goals Discuss what matters most—paying off debt, saving for a house, investing, etc. Align on long-term goals like retirement or travel. 5. Understand Each Other’s Money Mindset Discuss how you were raised with money and how it affects your financial habits. Recognize if one of you is a spender and the other is a saver—find a balance. 6. Use a Budget That Works for Both of You Choose a budgeting method that fits your lifestyle (e.g., joint or separate accounts, percentage-based budgeting). Use apps or spreadsheets to track spending together. 7. Give Each Other Some Financial Freedom Set aside “no-questions-asked” personal spending money. This avoids micromanaging and resentment. 8. Handle Disagreements Calmly If tensions rise, take a break and return to the conversation later. Compromise where possible and seek solutions, not arguments. 9. Consider a Financial Advisor or Coach If discussions become too difficult, an objective third party can help. 10. Celebrate Progress Together Acknowledge wins—paying off a debt, reaching a savings goal, etc. Reward yourselves for good financial habits. Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…

Money Strong Personal Finance Podcast

1
Turning The Negative Bias Into Positive Gains: A Financial Perspective 24:55

6 weeks тому24:55

24:55

Overcoming Negativity Bias: Strategies for Financial Resilience | Money Strong Podcast In this episode of the Money Strong podcast, host Bryan Foltice discusses the common human tendency towards negativity bias and its implications for personal finance. He provides updates on the rebranding of the podcast and the new Money Strong College Program available on various platforms. Bryan shares personal stories and insights into the current state of the stock market, emphasizing the importance of maintaining a positive mindset during financial downturns. He explores historical market trends, the emotional impact of market fluctuations, and strategies for managing and overcoming negativity bias to achieve long-term financial success. Bryan encourages listeners to stay the course with their investments, learn from setbacks, and continue to save diligently. The episode blends behavioral finance concepts with practical financial advice aimed at helping individuals build a robust financial future. 00:00 Introduction to the Money Strong Podcast 01:19 Personal Updates and New Beginnings 03:37 Market Overview and Negativity Bias 06:05 Investment Strategies and Diversification 09:42 Behavioral Finance and Overcoming Negativity 16:38 Lessons from Past Market Experiences 20:53 Strategies to Overcome Financial Setbacks 22:02 Conclusion and Viewer Engagement Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…

Money Strong Personal Finance Podcast

1
Four Intensity Levels in Debt Reduction: Tailoring Intensity to Fit Your Personality 22:14

7 weeks тому22:14

22:14

Mastering Debt: Understanding Your Financial Intensity Levels Join Dr. Bryan Foltice in this episode of the Bryan Foltice Behavioral Finance Podcast as he dives deep into the concept of financial intensity levels, particularly in the context of paying off loans and debt. Bryan shares his unique approach from his Money Strong program, offering four distinct intensity levels: minimal effort, moderate effort, high effort, and extreme intense effort. Drawing from personal anecdotes and professional insights, he emphasizes that not everyone should approach debt repayment the same way. Listeners will learn how to identify the level that best fits their personality and situation, and how to design their financial goals accordingly. Don't miss valuable tips on creating a balanced financial plan that promotes both debt repayment and wealth building. 00:00 Introduction to the Podcast 01:15 Understanding Intensity Levels in Finance 02:59 Personal Stories and Lessons Learned 09:05 Four Levels of Debt Repayment 20:57 Conclusion and Final Thoughts Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…

Money Strong Personal Finance Podcast

1
Beyond the Snowball: Tailored Debt Repayment Plans 20:17

8 weeks тому20:17

20:17

Debt Repayment Strategies Unveiled | Bryan Foltice Behavioral Finance Podcast In this episode of the Bryan Foltice Behavioral Finance Podcast, host Dr. Bryan Foltice dives into debt repayment strategies. Dr. Foltice discusses the growing issue of consumer debt in the U.S. and reveals different methods to tackle it, including the snowball, avalanche, and snowflake methods. He also introduces a hybrid repayment approach. Additionally, he offers advice for new graduates on balancing debt repayment with retirement savings. Don't miss this insightful episode to help you or someone you know get out of debt more effectively. 00:00 Introduction to the Podcast 00:26 Understanding Debt Repayment Strategies 06:54 The Snowball Method Explained 09:33 The Avalanche Method: Pros and Cons 11:25 The Snowflake Method: Small Wins 15:36 Hybrid Approach to Debt Repayment 18:49 Conclusion and Final Thoughts Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…

Money Strong Personal Finance Podcast

1
Chasing Happy: Hedonic Adaptation and Financial Wisdom 26:24

9 weeks тому26:24

26:24

Understanding Hedonic Adaptation in Behavioral Finance with Dr. Bryan Foltice Welcome to the Bryan Foltice Behavioral Finance Podcast! In this episode, Dr. Bryan Foltice dives deep into the concept of hedonic adaptation, also known as the hedonic treadmill. Dr. Foltice shares his personal journey, transitioning from the corporate world to academia, and illustrates how we often adapt to both positive and negative life events. He further discusses the impact of this adaptation on financial decisions, the pitfalls of lifestyle inflation, and the importance of aligning financial goals with personal values. Learn practical advice on practicing gratitude, spending on experiences, and aligning your finances with life goals for long-term happiness. Tune in for an insightful discussion on making smarter, more informed financial decisions. 00:00 Introduction to the Podcast 01:33 Understanding Hedonic Adaptation 02:14 Personal Journey: From Investment Banking to Academia 07:13 Achieving Tenure: The Emotional Rollercoaster 14:08 Hedonic Adaptation in Financial Decisions 19:51 Strategies to Overcome Hedonic Adaptation 24:02 Aligning Financial Goals with Life Purpose 26:17 Conclusion and Final Thoughts Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…

Money Strong Personal Finance Podcast

1
The Zeigarnik Effect: Unlocking the Power of Unfinished Tasks 21:59

10 weeks тому21:59

21:59

Unveiling the Ziegarnik Effect: How Unfinished Tasks Shape Our Financial Decisions In this episode of the Bryan Foltice Behavioral Finance Podcast, Dr. Bryan Foltice delves into the Ziegarnik effect, a psychological phenomenon that explains why unfinished tasks occupy our minds more than completed ones. The discussion covers the impact of this effect on various aspects of life, including work, personal tasks, and even watching TV shows. Dr. Foltice then bridges the concept to behavioral finance, illustrating how unresolved financial issues like debt can cause stress and anxiety. He offers strategies to mitigate these effects and transform financial goals into powerful motivators. This episode provides valuable insights into using the Ziegarnik effect to enhance financial decision-making and overall well-being. 00:00 Introduction to the Bryan Foltice Behavioral Finance Podcast 01:13 Unpacking the Ziegarnik Effect 02:42 Applying the Ziegarnik Effect in Daily Life 06:05 Behavioral Finance and the Ziegarnik Effect 08:20 Using the Ziegarnik Effect to Achieve Financial Goals 12:14 The Ziegarnik Effect and Investment Behavior 16:32 Conclusion and Final Thoughts Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…

Money Strong Personal Finance Podcast

1
Building Your Safety Net: The Importance of a Flexibility Fund 19:57

11 weeks тому19:57

19:57

Building a Flexibility Fund: The Key to Financial Independence | Bryan Foltice Behavioral Finance Podcast Welcome to the Bryan Foltice Behavioral Finance Podcast! In this episode, Dr. Bryan Foltice discusses the importance of the Flexibility Fund as a crucial step in achieving financial independence. He shares personal anecdotes and practical advice on setting up this fund, which serves as a safety net for unexpected expenses and provides financial freedom. Learn how to prioritize savings goals, manage debt, and create a financial buffer that opens doors to future opportunities. Don't miss out on tips to turn your financial life around and build a secure and flexible future. 00:00 Introduction to the Podcast 00:25 Introducing the Flexibility Fund 00:58 The Importance of the Murphy's Fund 02:00 Steps to Eliminate Debt 02:52 Building the Flexibility Fund 03:54 Personal Journey and Financial Turnaround 05:08 The Daniel Fast and Its Impact 06:52 Achieving Financial Independence 10:18 Setting Up Your Flexibility Fund 13:09 Investing Your Flexibility Fund 15:17 Maintaining Financial Discipline 16:57 Conclusion and Listener Engagement Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…

Money Strong Personal Finance Podcast

1
Murphy’s Fund: The First Step to Financial Stability 20:09

12 weeks тому20:09

20:09

Achieve Your First $1,000: Behavioral Finance Tips with Dr. Bryan Foltice Welcome to the first episode of the Bryan Foltice Behavioral Finance Podcast! Dr. Bryan Foltice dives into the world of behavioral finance and personal milestones, focusing on how to save your first $1,000. Whether you're starting from zero or already have some savings, this episode is packed with actionable strategies to help you achieve this initial goal. Dr. Foltice also introduces the 'Money Strong' program and the importance of having a financial cushion to mitigate unforeseen expenses. Tune in for practical tips on cutting expenses, boosting income, and setting up effective savings plans. 00:00 Introduction to the Podcast 00:24 The Importance of Saving Your First $1000 03:09 Understanding the Murphy Fund 07:17 Practical Tips for Saving $1000 12:34 Where to Keep Your Savings 15:29 Conclusion and Next Steps Support the show Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com Money Strong Program - www.moneystrong.net Instagram - www.instagram.com/bryanfoltice Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/ Disclaimer: www.bryanfoltice.com/cv…

Money Strong Personal Finance Podcast

1
The Winner's Curse: When Winning Is Actually Losing 19:46

13 weeks тому19:46