Ever wonder why you make financial decisions that go against your better judgment? This episode delves into The Chimp Paradox, a powerful psychological model by Dr. Steve Peters that explains the constant tug-of-war between your emotional “chimp” brain and your rational “human” brain. We’ll explore how this internal conflict often leads to impulsive spending and financial anxiety, and, more importantly, equip you with actionable strategies to “box your chimp” and make logical, confident choices with your money. Get ready to understand the unseen forces shaping your financial habits and learn how to take control of your financial future!
Erica joins this week’s podcast as we talk about:
– Understanding The Chimp Paradox
– The three components of the mind: Human (rational), Chimp (emotional), and Computer (habits and beliefs)
– How your emotional Chimp drives impulsive buys and instant gratification
-Identifying unhelpful beliefs that fuel poor financial decisions.
– Actionable Steps to “Box the Chimp”
Show References:
- Inside Out Money episode #008 – Save or splurge!? Being intentional with your spending
- Inside Out Money podcast #08 -. Trick yourself into spending less money
- Inside Out Money podcast episode #034 – Predatory marketing tactics and scams – How to spot and avoid them
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