
Cognitive Bias & Financial Literacy
As we continue our journey to build financial literacy skills, you may be wondering where all the formulas and numbers are? Well, this is a big misconception of financial literacy—that it is more about numbers than it is about behaviors. How we feel about money & investing and how we behave with the resources we have via the decisions we make are as, or more, important than our ability to work with numbers. Hence, this is where we’re going to place most of our initial emphasis.
The Subconscious Mind’s Impact on Financial Literacy
The important point is to recognize that these biases exist and they have a profound impact on our ability to make sound decisions with our money. The purpose of engaging in self-talk is to challenge our internal biases and to bring more decisions—especially the important decisions we make—into working memory as opposed to giving agency to our biased, subconscious mind.
Wrestling with Imposter Syndrome
What I do know is that reducing the negative feelings that accompany my imposter syndrome has distinct benefits. My anxiety is much more manageable, I’m happier and feel more fulfilled, and I believe I’m a better parent, partner, and friend. So how did I reduce my exposure to imposter syndrome? I defined and connected to my personal purpose.
‘I Get To’ v. ‘I Have To’
Are you feeling disengaged or ‘stuck’ at work? Does it feel like you’re trudging through mud and that the light in your eyes has dimmed? From my own personal experience, it can be very difficult to pinpoint the root cause of these feelings and it’s even harder to break through to an improved state of well-being and engagement.