Meet with PWL Capital: https://pages.pwlcapital.com/en-ca/contact-us?utm_source=content&utm_medium=youtube&utm_campaign=rationalreminder_yt In this episode, we are joined by renowned expert Abby Sussman to unpack how individuals form judgments and make decisions about their finances. Abby is a distinguished professor of marketing at the University of Chicago Booth School of Business whose expertise lies at the intersection of psychology, economics, and finance. In our conversation, we discuss the nuances of financial decision-making and how personal beliefs influence our financial choices. Discover the source of reference points for financial well-being and how expense prediction biases play a role in making poor financial decisions. We explore the effectiveness of budgeting, the nuances of product sensitivity, and the drivers of excessive consumer consumption. Gain insights into navigating the complexities of financial decision-making, the psychology behind it, how AI can help you make better financial decisions, and much more. Tune in to gain a deeper understanding of the psychology behind financial decisions and uncover strategies to optimize your financial future with Abby Sussman! Links From Today’s Episode: Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder- podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/ Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://twitter.com/RationalRemind Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.ca Benjamin Felix — https://www.pwlcapital.com/author/benjamin-felix/ Benjamin on X — https://twitter.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Cameron Passmore — https://www.pwlcapital.com/profile/cameron-passmore/ Cameron on X — https://twitter.com/CameronPassmore Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/ Abby Sussman on LinkedIn — https://www.linkedin.com/in/abigail-sussman-ab4427/ Abby Sussman on X — https://twitter.com/abbysussman The University of Chicago Booth School of Business — https://www.chicagobooth.edu/ Society for Judgment and Decision Making — https://sjdm.org/ Episode 153: Prof. Johanna Peetz — https://rationalreminder.ca/podcast/153 Epidose 296: Adam Alter — https://rationalreminder.ca/podcast/296 Panel Study of Income Dynamics — https://psidonline.isr.umich.edu/ Consumer Financial Protection Bureau — https://www.consumerfinance.gov/ Papers From Today’s Episode: ‘Understanding and Neutralizing the Expense Prediction Bias: The Role of Accessibility, Typicality, and Skewness’ — https://doi.org/10.1177/00222437211068025 ‘The Exception Is the Rule: Underestimating and Overspending on Exceptional Expenses’ — https://doi.org/10.1086/665833 ‘The Role of Risk Preferences in Responses to Messaging About COVID-19 Vaccine Take-Up’ — https://doi.org/10.1177/1948550621999622 ‘The Role of Mental Accounting in Household Spending and Investing Decisions’ — https:// papers.ssrn.com/sol3/papers.cfm?abstract_id=3051415 ‘How Consumers Budget” — https://doi.org/10.1016/j.jebo.2022.09.025 ‘Financial Product Sensitivity Predicts Financial Health’ — https://doi.org/10.1002/bdm.2142