Shows
Dr. Bryan Foltice Behavioral Finance PodcastMillions on the Field: NIL and the New Age of College EntrepreneursWelcome to the Money Strong Monday morning broadcast with Dr. Bryan Foltice! In this episode, we break format to discuss the latest economic updates, including the state of the S&P 500, inflation rates, and interest rates, and their impacts. Dr. Foltice then dives deep into this episode's primary topic—NIL (Name, Image, and Likeness) money and its significant effect on student-athletes in U.S. colleges. Learn about the various tiers of NIL compensation, financial challenges, and opportunities athletes face, and the importance of providing the right support and education to help them navigate this new land...
2025-08-1826 minDr. Bryan Foltice Behavioral Finance PodcastFinancial Expert Makes Terrible Spending Decisions: Bad Luck or Something Deeper?How I Overspent $3300 in June & What I Learned From It | Money Strong PodcastIn this episode of the Money Strong Podcast, Dr. Bryan Foltice shares his real-life experience of going over his monthly budget by $3300 in June. He provides insights into how unexpected expenses and impulsive spending can derail financial plans. Learn about his approach to dealing with the aftermath and how he aims to throttle back, simplify life, and regain control over his finances. Follow along as Dr. Foltice wraps up his series on financial well-being, emphasizing the importance of mindset in managing money. Don't miss...
2025-08-1127 minDr. Bryan Foltice Behavioral Finance PodcastBreaking Free From the (Financial) Shame Wizard and Anxiety MosquitoTackling Financial Anxiety and Shame: Steps to OvercomeWelcome back! In this episode, we delve into the often overlooked aspects of financial well-being—financial anxiety and shame. Dr. Bryan Foltice explains how money is more than just numbers; it's tied to our emotions and past experiences. Using references from the show 'Big Mouth,' he illustrates how anxiety and shame manifest, especially in finances. Dr. Foltice provides actionable steps to overcome these feelings: identifying triggers, removing judgment, taking small steps, building habits, and seeking support if needed. Join us in breaking down the stigma around financial struggles an...
2025-08-0415 minDr. Bryan Foltice Behavioral Finance PodcastThe Hidden Side of Finance: The Influence of Money BeliefsUnpacking Money Beliefs: Key to Financial WellbeingWelcome to the Money Strong Podcast hosted by Dr. Bryan Foltice, where we dive deep into the psychology behind our financial decision-making. In this episode, we explore the hidden beliefs about money that stem from our upbringing, culture, media, and personal experiences. Dr. Foltice discusses common money beliefs such as money avoidance, money worship, and money vigilance, and how these beliefs impact our financial behaviors. Learn how to identify and shift these beliefs through awareness, questioning, and rewiring, to improve your financial wellbeing. Don't miss this insightful conversation d...
2025-07-2821 minDr. Bryan Foltice Behavioral Finance PodcastRevamp Your Financial Habits: A Step-by-Step ApproachUnderstanding and Changing Your Financial Behavior | Money Strong PodcastJoin Dr. Bryan Foltice on the Money Strong Podcast as he dives into the psychology behind financial decision-making. Discover why knowing the right financial behaviors isn't enough and learn how to change your habits for the better. In this episode, Dr. Foltice discusses the influence of habits, emotions, and environment on financial behavior and introduces a five-step process to foster lasting change. He also shares personal insights and encourages listeners to start small, celebrate milestones, and prioritize progress over perfection. Tune in for actionable tips to i...
2025-07-2119 minDr. Bryan Foltice Behavioral Finance PodcastRewiring Your Brain: How Past Money Memories Influence Today's ChoicesUnlocking Your Financial Potential: Understanding Money Memories & MotivationsWelcome to the Money Strong Podcast with Dr. Bryan Foltice, dedicated to helping you gain confidence and control over your finances. In this episode, we explore the deep-seated impact of 'money memories' from childhood and how they shape our financial behaviors today. Dr. Foltice breaks down different money motivations including security, freedom, status, avoiding, giving, and optimizing, explaining how these motivations influence financial decisions. Learn how self-awareness can lead to better financial habits and decisions. Tune in to start transforming your financial mindset and build a healthier r...
2025-07-1416 minDr. Bryan Foltice Behavioral Finance PodcastUnderstanding Financial Well Being: It's Way More Than a NumberUnderstanding Financial Wellbeing: Key Components and Why It MattersWelcome to the Money Strong Podcast, where Dr. Bryan Foltice helps listeners build confidence and control over their finances. In this episode, Dr. Foltice explores the true meaning of financial wellbeing, breaking down its components such as security, confidence, and control. He discusses the importance of not fixating on a specific financial 'magic number' and delves into the concept of financial wellbeing as defined by the Consumer Financial Protection Bureau (CFPB), including living with a margin between income and expenses, the capacity to absorb fi...
2025-07-0716 minDr. Bryan Foltice Behavioral Finance PodcastUnderstanding the Difference Between Risk vs. Uncertainty: How Ambiguity Aversion Impacts Our ChoicesUnderstanding Ambiguity Aversion: How Uncertainty Affects Financial DecisionsIn 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 fi...
2025-05-1018 minDr. Bryan Foltice Behavioral Finance PodcastAchieving Financial Independence: An In-Depth Look at Its Four LevelsUnderstanding Financial Independence: Breaking Down the Four LevelsIn 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, allo...
2025-05-0518 minDr. Bryan Foltice Behavioral Finance PodcastThe Psychology of Money: Mental Accounting ExplainedUnderstanding Mental Accounting: Avoiding Common Financial PitfallsIn 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 fo...
2025-05-0320 minDr. Bryan Foltice Behavioral Finance PodcastSide Hustles: Pathway to Financial Freedom or Recipe for Burnout?Side Hustles: Should You Have One? Exploring All AnglesWelcome 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 i...
2025-04-2821 minDr. Bryan Foltice Behavioral Finance PodcastFour Roadblocks to Long-Term Financial Success and How to Conquer ThemOvercoming Financial Planning Obstacles: 4 Common Pitfalls and How to Avoid Them | Money Strong PodcastIn 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...
2025-04-2224 minDr. Bryan Foltice Behavioral Finance PodcastTurning Losses Into Lessons: A Guide Through Stock Market Corrections in 2025Navigating Stock Market Corrections: Lessons in Emotion, Timing, and DiversificationIn 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.
2025-04-1521 minDr. Bryan Foltice Behavioral Finance PodcastMastering Money Talks: 10 Keys to Discussing Finances with Your Partner10 Keys to Improve Financial Communication with Your PartnerJoin 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 DateSchedule a relaxed time (weekly, biweekly, or monthly) to discuss...
2025-04-0826 minDr. Bryan Foltice Behavioral Finance PodcastTurning The Negative Bias Into Positive Gains: A Financial PerspectiveOvercoming Negativity Bias: Strategies for Financial Resilience | Money Strong PodcastIn 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 fo...
2025-04-0124 minDr. Bryan Foltice Behavioral Finance PodcastFour Intensity Levels in Debt Reduction: Tailoring Intensity to Fit Your PersonalityMastering Debt: Understanding Your Financial Intensity LevelsJoin 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...
2025-03-2522 minDr. Bryan Foltice Behavioral Finance PodcastBeyond the Snowball: Tailored Debt Repayment PlansDebt Repayment Strategies Unveiled | Bryan Foltice Behavioral Finance PodcastIn 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...
2025-03-1820 minDr. Bryan Foltice Behavioral Finance PodcastChasing Happy: Hedonic Adaptation and Financial WisdomUnderstanding Hedonic Adaptation in Behavioral Finance with Dr. Bryan FolticeWelcome 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...
2025-03-1126 minDr. Bryan Foltice Behavioral Finance PodcastThe Zeigarnik Effect: Unlocking the Power of Unfinished TasksUnveiling the Ziegarnik Effect: How Unfinished Tasks Shape Our Financial DecisionsIn 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...
2025-03-0421 minDr. Bryan Foltice Behavioral Finance PodcastBuilding Your Safety Net: The Importance of a Flexibility FundBuilding a Flexibility Fund: The Key to Financial Independence | Bryan Foltice Behavioral Finance PodcastWelcome 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...
2025-02-2519 minDr. Bryan Foltice Behavioral Finance PodcastMurphy’s Fund: The First Step to Financial StabilityAchieve Your First $1,000: Behavioral Finance Tips with Dr. Bryan FolticeWelcome 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...
2025-02-1820 minDr. Bryan Foltice Behavioral Finance PodcastThe Winner's Curse: When Winning Is Actually LosingUnderstanding the Winner's Curse: How Overpaying Leads to LossesWelcome to the Bryan Foltice Behavioral Finance Podcast! In this episode, host Dr. Bryan Foltice delves into the intriguing phenomenon of the winner's curse—a situation where winning can actually mean losing. By examining real-world examples ranging from eBay auctions and trading card businesses to sports contracts and major acquisitions, Dr. Foltice explains how overconfidence, emotional decision-making, and asymmetric information often lead to overpaying. He also shares practical strategies to recognize and avoid falling victim to this financial pitfall. Tune in for valuable insights on making smarter, more in...
2025-02-1119 minDr. Bryan Foltice Behavioral Finance PodcastFrom Gridiron to Portfolio: The Super Bowl Effect ExploredUnmasking the Super Bowl Effect in Behavioral Finance | Bryan FolticeWelcome to another episode of the Bryan Foltice Behavioral Finance Podcast! This week, coinciding with Super Bowl week, Dr. Bryan Foltice dives into the intriguing 'Super Bowl effect'—a theory that links Super Bowl outcomes with stock market performance. Originating from a 1978 New York Times article by Leonard Kopet, the theory suggests that an AFC team win signals a market decline, while an NFC team win predicts a bull run. Bryan scrutinizes this pattern recognition, its historical accuracy, and the cognitive biases that entice us to believe in...
2025-02-0420 minDr. Bryan Foltice Behavioral Finance PodcastSteps to Successful Financial Planning in 2025Smart Goal Setting in Personal Finance for 2025: A Year in Review and Planning AheadIn this episode of the Bryan Foltice Behavioral Finance Podcast, Dr. Bryan Foltice discusses personal finance goal setting for the new year, reviewing the events of 2024. He emphasizes the importance of SMART goals (Specific, Measurable, Achievable, Relevant, Time-bound) and shares personal milestones, such as paying off student loans and improving financial habits. The episode focuses on helping listeners craft well-defined financial objectives to make 2025 a prosperous and successful year. Dr. Foltice also offers resources available on his website and Udemy courses.00:00...
2025-01-2820 minDr. Bryan Foltice Behavioral Finance PodcastNavigating the Mere Urgency Effect: Balancing Urgency and ImportanceUnderstanding the Mere Urgency Effect in Behavioral FinanceIn this episode of the Bryan Foltice Behavioral Finance Podcast, Dr. Bryan Foltice explores the Mere Urgency Effect, a psychological phenomenon where people prioritize urgent tasks over important ones, even if the latter offers greater rewards. He delves into recent studies from the Journal of Consumer Research by professors from Carnegie Mellon, Florida, and Chicago. Bryan explains the practical implications of this effect on productivity and financial planning, offering actionable advice on how to better categorize and prioritize tasks to achieve financial and personal goals. He also provides resources...
2025-01-2119 minDr. Bryan Foltice Behavioral Finance PodcastSMART Goals in Financial Planning for the Future in 2025Goal Setting and Financial Independence for 2025In this episode of the Bryan Foltice Behavioral Finance Podcast, Dr. Bryan Foltice helps listeners kick off 2025 with personal finance goal setting. Discussing SMART goals, he outlines the importance of setting Specific, Measurable, Achievable, Relevant, and Time-bound objectives. Bryan shares his own journey with his wife Mandi, tackling debt and prioritizing investments, and encourages listeners to reflect on their financial progress over the past year to set impactful goals for the new year. Tune in for insights on achieving financial independence and making informed decisions with your money.00:00 Introduction...
2025-01-1420 minDr. Bryan Foltice Behavioral Finance PodcastUsing Pareto's Principle (80:20 Rule) in the New YearMastering Time Management and Financial Decisions with Pareto's PrincipleIn this episode of the Bryan Foltice Behavioral Finance Podcast, Dr. Foltice returns after a hiatus to discuss the challenges of time management and financial decision-making, using Pareto's Principle (the 80/20 rule) as a guide. He shares his personal experiences from a demanding fall semester, reflects on the importance of focusing on high-impact activities, and offers actionable steps to improve time and financial management for the upcoming year. Dr. Foltice also emphasizes the benefits of passive index investing and minimizing distractions like email and smartphones to enhance productivity and...
2025-01-0820 min
CCOM Pawcast | Butler UniversityDr. Bryan Foltice and Randy Brown, of Butler LSB, talk their “Money Strong” program for students(Recorded on November 1, 2024) Dr. Bryan Foltice, associate professor of finance and the creator of the “Money Strong” program is joined by his initiative partner Randy Brown, a career mentor with LSB, to talk with CCOM Dean Joe Valenzano on the latest episode of the CCOM Pawcast.
Topics include student loans, budgeting, and personal finance, especially while transitioning from being an undergraduate student to a working professional and/or graduate student.
Folic and Brown provide financial support and planning, targeted for Butler students and their future financial confidence and success, through the lens of Behavior Finance.
2024-11-0120 minDr. Bryan Foltice Behavioral Finance PodcastMoney Strong with Randy Brown: Butler's Initiative on Financial Education for All StudentsIntroducing the Money Strong Program: Empowering Financial Literacy at Butler UniversityIn this episode, Bryan introduces his friend and partner, Randy Brown, as they unveil the Money Strong Program at Butler University. Together, they share their journey in developing the program, emphasizing the importance of financial literacy for students. Randy shares his personal background in HR and his transition to a career mentor at Butler, while Bryan explains the personal experiences that fueled his passion for financial literacy. The duo discusses the steps they've taken to launch the program, the challenges they've faced, an...
2024-09-1736 minDr. Bryan Foltice Behavioral Finance PodcastEpisode 38: Three Untold Truths of Starting Your Own BusinessThe Untold Truths of Starting Your Own Business | Bryan Foltice Behavioral Finance PodcastWelcome to the Bryan Foltice Behavioral Finance Podcast! In this episode, Bryan shares invaluable insights on starting your own business, focusing on three often overlooked aspects: the overwhelming responsibility, the isolation, and the slow growth. Drawing from his own experiences, Bryan provides encouragement and practical advice to help you navigate these challenges and succeed in your entrepreneurial journey. Plus, discover how these obstacles can lead to personal growth and long-term success. Don't miss out on this candid and inspirational discussion!00:00 Introduction to...
2024-09-1020 minDr. Bryan Foltice Behavioral Finance PodcastEpisode 37: Master Your Estimates: Understanding and Overcoming the Planning FallacyUnderstanding and Overcoming the Planning Fallacy | Bryan Foltice Behavioral Finance PodcastIn this episode of the Bryan Foltice Behavioral Finance Podcast, host Bryan Foltice discusses the 'planning fallacy,' a common cognitive bias where individuals systematically underestimate the time, cost, and risks associated with tasks. Originating from the work of Daniel Kahneman and Amos Tversky in 1979, this fallacy affects everyone, including academics and professionals. Bryan shares his personal experiences and insights on avoiding the pitfalls of the planning fallacy, emphasizing the importance of realistic time estimations, proper budgeting, and anticipation of potential risks to improve p...
2024-09-0316 minDr. Bryan Foltice Behavioral Finance PodcastEpisode 36: The Carry Trade Unveiled: Impacts on Global MarketsIn this episode of the Bryan Foltice Behavioral Finance podcast, Bryan discusses the recent market volatility linked to the carry trade, a complex financial strategy involving borrowing in low-interest currencies like the Japanese yen to invest in higher-yielding assets. Using current market data, he provides an in-depth explanation of how fluctuations in currency values impact these trades and their broader implications on equity and bond markets. The episode aims to educate listeners on the recent disturbances caused by potential interest rate hikes in Japan and how this phenomenon affects global financial markets.00:00 Introduction to the P...
2024-08-0613 minDr. Bryan Foltice Behavioral Finance PodcastEpisode 35: Seeing Clearly: Understanding the Bias Blind SpotJoin Dr. Bryan Foltice in this episode of the Bryan Foltice Behavioral Finance Podcast as he dives into the concept of the bias blind spot. Discover how most of us perceive ourselves as less biased than others and the psychological mechanisms behind this phenomenon. Dr. Foltice discusses the impact of this bias on decision-making and offers personal insights and examples of common biases in daily life. Additionally, get an exciting update on his new mini-course on behavioral finance. Tune in for a thought-provoking discussion aimed at increasing self-awareness and understanding in the realm of personal finance.
2024-07-3026 minDr. Bryan Foltice Behavioral Finance PodcastEpisode 34: Behavioral Finance Insights: Weighing Active Management and Index InvestmentsActive vs Passive Management: Analyzing Mutual Fund PerformanceIn this episode of the Bryan Foltice Behavioral Finance Podcast, Dr. Bryan Foltice delves into the debate between actively managed mutual funds and their passive counterparts. He discusses market efficiency, the pitfalls of actively managed funds, and the significant impact of expenses and front-loaded fees on investment returns. Foltice provides evidence for and against active management, compares historical performances, and explains the difference between arithmetic and geometric returns. Despite acknowledging the allure of certain actively managed funds, he advocates for index investing based on current data and r...
2024-07-0224 minDr. Bryan Foltice Behavioral Finance PodcastEpisode 33: Critiquing Dave Ramsey's Retirement Advice: Finding Balance in Withdrawal RatesIn this episode of the Bryan Foltice Behavioral Finance Podcast, Dr. Bryan Foltice discusses the controversy surrounding Dave Ramsey's recommendation of an 8% retirement withdrawal rate. He critiques Ramsey's approach, highlighting its potential risks and compares it with the more conservative 4% rate commonly advised by financial planners. Dr. Foltice delves into the importance of considering sequence risk and advocates for a balanced, flexible strategy to ensure financial stability throughout retirement. The episode aims to provide financial insights and foster informed decision-making among listeners.00:00 Introduction to the Podcast00:35 Critique of Dave Ramsey's Advice01:41 Personal Experience wit...
2024-06-2524 minDr. Bryan Foltice Behavioral Finance PodcastEpisode 32: Beyond Gains and Losses: Exploring the Disposition EffectIn this episode of the Bryan Foltice Behavioral Finance Podcast, Dr. Bryan Foltice delves into foundational concepts of behavioral finance. He revisits prospect theory, emphasizing our differing sensitivities to gains and losses, and introduces the disposition effect - our tendency to sell winning stocks too early and hold onto losing stocks too long. Dr. Foltice shares personal anecdotes and research findings, including a study on the efficacy of trailing stop loss orders in minimizing the disposition effect and improving investment strategies. Tune in for more insights and practical advice on making smarter financial decisions.00:00 Introduction t...
2024-06-1816 minDr. Bryan Foltice Behavioral Finance PodcastEpisode 31: Behavioral Finance Explains: Why Americans Misunderstand the EconomyBehavioral Finance Explains: Why Americans Misunderstand the EconomyIn this episode of the Bryan Foltice Behavioral Finance Podcast, Dr. Bryan Foltice discusses a U.S. survey revealing widespread economic misconceptions among Americans. Key findings show that many Americans believe the economy is shrinking, the stock market is down, and unemployment is at a high, contrary to actual data showing economic growth, stock market highs, and low unemployment rates. Foltice explores the reasons behind these misconceptions, including a lack of stock market participation and the impact of confirmation bias, and emphasizes the potential political motivations behind m...
2024-06-1115 minDr. Bryan Foltice Behavioral Finance PodcastEpisode 30: Retiring Early: Is the FIRE Community the Right Path?Retiring Early: Is the FIRE Community the Right Path?In this episode of the Bryan Foltice Behavioral Finance Podcast, Dr. Bryan Foltice delves into the FIRE (Financial Independence, Retire Early) movement. He discusses the key principles behind FIRE, including the idea of saving up to 70% of annual income to retire early and live off small withdrawals. Dr. Foltice evaluates the merits and challenges of the FIRE lifestyle, emphasizing the importance of having a purpose in both one's career and retirement. He addresses the potential pitfalls of extreme frugality and explores the balance between enjoying the p...
2024-06-0416 minDr. Bryan Foltice Behavioral Finance PodcastEpisode 29: Unpacking the Phenomenon of Meme Stocks and Investor BehaviorIn this episode of the Brtan Foltice Behavioral Finance Podcast, Dr. Brtan Foltice delves into the intriguing world of meme stocks, such as GameStop and AMC Entertainment, and their impact on investor behavior. He introduces key concepts of behavioral finance including noise trader risk and the Greater Fool Theory, explaining how these factors drive the stock prices far beyond their fundamental value. Bryan demonstrates how meme stock phenomena bring to light irrational aspects of investor behavior, fueled by social media influences and group dynamics rather than financial fundamentals. He also shares insights from his experiences teaching corporate fi...
2024-05-2121 minDr. Bryan Foltice Behavioral Finance PodcastEpisode 28: Money Strong: Empowering College Students for Financial SuccessEmpowering Students with Financial Literacy: The Money Strong Program at ButlerIn this episode of the Bryan Foltice Behavioral Finance Podcast, Dr. Bryan Foltice discusses the Money Strong program, a new initiative designed for college juniors and seniors at Butler University aimed at improving their personal finance skills. This program, born from a collaboration with career mentor Randy Brown, aims to address the lack of financial literacy education for students, regardless of their major. Foltice shares insights into the development of the program, its four content modules focused on motivation, budgeting, dealing with st...
2024-05-0738 minDr. Bryan Foltice Behavioral Finance PodcastEpisode 27: Travel Sports Meets Behavioral Finance (And It's Not Pretty) - Part 2Youth Sports Meets Behavioral Finance: A Deep Dive with Dr. Bryan FolticeIn this episode of the Bryan Foltice Behavioral Finance Podcast, Dr. Foltice discusses the intersection of youth sports and behavioral finance in the United States. He explores the shift from community-based sports to private, for-profit sports organizations that emerged around 2008 due to budget cuts during the Great Recession. Dr. Foltice \shares personal anecdotes and research findings on how this shift has led to financial strain and negative consequences for families, including overextended parents and kids missing out on valuable family time. The episode de...
2024-04-3030 minDr. Bryan Foltice Behavioral Finance PodcastEpisode 26: Travel Sports Meets Behavioral Finance (And It's Not Pretty) - Part 1The Overwhelming World of Youth Sports: A Behavioral Finance PerspectiveIn this episode of the Bryan Foltice Behavioral Finance Podcast, the discussion centers around the behavioral finance aspects of youth sports in the United States, highlighting the vast changes and increasing pressures families face. Bryan shares personal experiences to underscore how youth sports commitment has escalated, consuming significant time and resources, contrasting it with more balanced approaches seen in other countries like Germany. Delving into the history of youth sports, he points out the shift from community-based, low-cost sports to a prevalent pay-to-play model post-2008 r...
2024-04-2330 minDr. Bryan Foltice Behavioral Finance PodcastEpisode #26 The Intersection of Finance, Creativity, and Life Purpose with Mandi and Bryan FolticeIn this episode of the Bryan Foltice Behavioral Finance Podcast, hosts Bryan and Mandi Foltice delve into the topic of finance in relation to life purpose and future planning. They share personal stories, including Mandi's journey from nursing to pursuing a career aligned with her passion for creativity. They discuss the challenges and considerations of combining finances in marriage, the importance of aligning finances with life goals, and the process of navigating career changes for a more fulfilling life. The conversation also touches upon dealing with aging parents and the necessity of estate planning. Furthermore, th...
2024-04-1628 minDr. Bryan Foltice Behavioral Finance PodcastEpisode 25: Navigating Finances Together: A Couple's Guide to Budgeting and Financial ConversationsIn this episode of the Bryan Foltice Behavioral Finance Podcast, hosts Dr. Bryan Foltice and his wife Mandi discuss the evolution of their financial management as a couple. They recount their experiences of merging their finances after getting married, buying a house, and adjusting to new expenses like a dog and personal maintenance. They emphasize the importance of regular financial conversations to stay on track with their budget, despite how life's busyness can sometimes get in the way. The discussions cover everything from tracking expenses in a spreadsheet, handling unexpected costs, to planning for future purchases and t...
2024-04-0926 minDr. Bryan Foltice Behavioral Finance PodcastEpisode 24: Love, Money, and Marriage: Our Early Financial Journey with Mandi Foltice Part 1In this episode of the Bryan Foltice Behavioral Finance Podcast, host Dr. Bryan Foltice and his wife Mandi delve into their personal journey of combining finances in their relationship. They discuss their backgrounds, including Mandi's financial situation before they met and how they navigated their differing approaches to money management. By sharing their experiences with budgeting, addressing debt, and planning for the future, the couple sheds light on the challenges and successes of merging financial lives. The episode emphasizes the importance of communication, setting common goals, and working together as a team to achieve financial wellness in a...
2024-04-0227 minDr. Bryan Foltice Behavioral Finance PodcastEpisode 23: Behavioral Finance Gets Personal - Part 4: Navigating Finances in (Second) MarriageNavigating Finances in Marriage: Part 4 - Personal Finance SeriesIn this episode of the Bryan Foltice Behavioral Finance Podcast, Bryan shares his personal experience of navigating finances in marriage, highlighting the transition from single life through dating to getting married for a second time. Beginning with reflections on his dating life post-divorce and meeting his current wife, Mandi, the podcast delves into the practicalities and philosophies of combining finances within a marriage. Bryan and Mandi's approach to managing finances, from dealing with debts and savings to making joint financial decisions, is discussed in detail. Emphasizing a...
2024-03-1927 minDr. Bryan Foltice Behavioral Finance PodcastEpisode 22: Behavioral Finance Gets Personal - Part 3: Talking with Your Kids About Money5 Key Lessons on Teaching Kids About Money | Bryan Foltice Behavioral Finance PodcastIn this episode of the Bryan Foltice Behavioral Finance Podcast, Bryan continues the personal finance series by sharing important teaching points for educating children about money. He emphasizes the necessity of open discussions about financial matters, despite not feeling fully equipped or perfect at managing one's finances. Bryan outlines five key lessons to impart to children: talking openly about money, making them work for money, understanding taxes, basics of saving and investing, and the importance of giving and abundance. Additionally, he touches on s...
2024-03-1223 minDr. Bryan Foltice Behavioral Finance PodcastEpisode 21: Personal Finance Series Part 2: Reflections on Bad Financial Behaviors and DecisionsIn this episode of the Bryan Foltice Behavioral Finance podcast, Bryan shares personal experiences with finances, relating both positive and pitfalls. He highlights lessons learned from his childhood about avoiding debt and the importance of saving. These include the "Snake Bite Effect" from buying his first house in Florida at the peak of the real estate bubble in 2007 to having a savers mentality versus investing. He also addresses some of his bad financial habits, noting a heavy annual spend during Christmas, visits to arcades and frequent using the DoorDash and Uber Eats services. Finally, Bryan emp...
2024-03-0523 minDr. Bryan Foltice Behavioral Finance PodcastEpisode 20: Behavioral Finance Gets Personal - Part 1: The GoodIn this episode of the Bryan Foltice Behavioral Finance Podcast, Bryan discusses his personal journey to financial independence. Despite being a late bloomer, he outlines how he managed to get a grip on his finances, including paying off all debt except mortgage, maintaining a savings rate of about 25%, maxing out his 401k, saving for his children's education, and diligently tracking expenses. The podcast emphasizes the behavioral aspect of finance, reflecting on how our upbringings and past experiences shape our financial beliefs and decisions. This episode includes tips and tidbits about different forms of savings, assets, and strategies B...
2024-02-2723 minDr. Bryan Foltice Behavioral Finance PodcastBehavioral Finance Goes Mental - How Mental Health Affects our Life and FinancesIn this episode, we dive into the topic of mental health and how it affects our Life and Finances. We also introduce a couple of very important topics: Develop a better understanding on how to change our behavior as well as redefining how it means to be rich (or life a rich/abundant life).00:00 Introduction 04:12 Changing our Behavior (Not a 1 Step Process! It's (at least) 3 steps)10:10 Changing our Understanding of Social Norms using the 3 Step process14:30 The (Almost) Five F's of a Rich Life Framework16:30 The Importance of Mental Health in Living a R...
2023-12-1254 minDr. Bryan Foltice Behavioral Finance PodcastEpisode 18: De-Biasing Strategies and Better Understanding Our Behaviors (and Others)In this episode, we finish the Behavioral Finance Undergraduate course content with an episode devoted to various de-biasing strategies. 00:00 Introduction 04:18 4 Steps to Eliminate Bias 1. Bias Awareness 2. Motivate why the bias is important 3. Direction and Magnitude 4. Ability to eliminate/overcome10:00 How to Reduce Bias (Actual Equation/Rule of Thumb/Experiential Learning) 17:20 People Have Different Learning Preferences When it Comes to Reducing Bias18:40 When is it Appropriate to Teach Bias Reduction? Just-In-Time Learning 23:15 Why to People Who Look at their Portfolios Each Day Perform Worse? 27:08 Understanding Your Budgeting Personality34:40 Understanding the Difference Betwe...
2023-10-1738 minDr. Bryan Foltice Behavioral Finance PodcastEpisode 17: Retirement Savings Behavior Part 2In this episode, we continue our discussion on the importance of retirement savings and why most individuals don't save enough. We talk about the mistakes people make with retirement, how to improve spending decisions, and finish with a discussion on why some people save too much. 00:00 Introduction and Short Life Update03:45 Understanding Your Net Pay (and How much You Make per Hour)06:40 Automatic Millionaire (Retirement Contributions Post-Graduation) 12:00 Making Financial Decisions Based on Net Paycheck (Not Gross) 15:00 Understanding Your Net Hourly Earnings (and Spending Decisions) 20:00 Why We Don't Save - Short-Sightedness and Emotional Deci...
2023-10-1052 minDr. Bryan Foltice Behavioral Finance PodcastEpisode 16: No Do-overs For Retirement Savings - It's All About The StartIn this episode, we begin our discussion on the importance of retirement savings and why most individuals don't save enough. The biggest issue with this is that there are no do-overs for retirement savings, leaving most people ill-equipped for retirement. 👉 Subscribe to our channel to stay tuned: https://cutt.ly/rwfRZWEDDefined Contribution (DC) Plan:Individual Accounts: In a DC plan, each employee has their own individual retirement account. Examples include 401(k)s and 403(b)s in the United States, as well as Individual Retirement Accounts (IRAs).Contributions: Contributions to a DC plan...
2023-10-0339 minDr. Bryan Foltice Behavioral Finance PodcastEpisode 15: Understanding Social Norms and How They Influence Our Decisions]In this episode, we'll explore social norms, which are the unwritten rules and expectations that guide human behavior in a given society. They vary across cultures and can change over time. Here are some key points about social norms:Social norms defined: Social norms are shared expectations within a society about how individuals should behave in various situations. They help maintain order and cohesion in a group..Social norms also play a significant role in financial decision-making. These norms are the unwritten rules and expectations within a society or community that influence how individuals manage...
2023-09-2651 minDr. Bryan Foltice Behavioral Finance PodcastEpisode 14 - How GroupThink and Conformity Influence our Decisions - Bryan Foltice Behavioral FinanceIn this episode, we'll explore how the concepts of groupthink and conformity influence our decisions, shedding light on how these psychological tendencies influence our decisions, behavior, and society as a whole.Behavioral finance helps us understand how financial decisions around things like investments, payments, risk, and personal debt, are greatly influenced by human emotion, biases, and cognitive limitations of the mind in processing and responding to information.Groupthink defined: A psychological phenomenon where individuals within a group prioritize harmony and consensus over critical thinking, often leading to flawed decisions.Key factors contributing to...
2023-09-1930 minDr. Bryan Foltice Behavioral Finance PodcastSelfishness And Altruism - Dr. Bryan Foltice Podcast Explains Forces In Decision-MakingIn today's episode, we delve into the intriguing interplay between selfishness and altruism in the realm of decision-making and its impact on financial choices.Behavioral finance helps us understand how financial decisions around things like investments, payments, risk, and personal debt, are greatly influenced by human emotion, biases, and cognitive limitations of the mind in processing and responding to information.It's important to understand behavioral finance because analyzing this theory allows professionals to understand why individuals make certain decisions with their finances and how these decisions affect the economy. Professionals can use behavioral finance concepts...
2023-09-1240 minDr. Bryan Foltice Behavioral Finance PodcastEpisode 12: OverconfidenceIn today's episode, we'll dive into the fascinating topic of overconfidence and its implications in the world of finance and decision-making.Link to the 10 Question Overconfidence Survey (Links to an external site).: https://butler.qualtrics.com/jfe/form/SV_3CnkB2H2MN44dQF Overconfidence is a cognitive bias that can lead individuals to overestimate their abilities, knowledge, and the accuracy of their predictions.Behavioral finance helps us understand how financial decisions around things like investments, payments, risk, and personal debt, are greatly influenced by human emotion, biases, and cognitive limitations of the mind i...
2023-09-0542 minDr. Bryan Foltice Behavioral Finance PodcastEpisode 11: How Biases and Heuristics Cause Financial Decision-Making ErrorsIn this four and final podcast on heuristics and biases, we connect the previously learned biases and heuristics of the last three episodes to our financial decision making. 01:47 Heuristics Review 03:05 Diversification Heuristic (Naive Diversification)11:16 Information Overload on Retirement Investment Decisions 13:52 Ambiguity in Investment Decisions (Under-diversification)14:45 Home Bias Overview16:50 Why the Home Bias Exists (3 Reasons)20:21 Next Level Home Bias (Regional and Localized Home Bias)23:10 Hedging our Happiness25:05 Other Factors Driving Home Bias26:20 Anchoring and Adjustment in Real Estate Appraisals28:35 Status Quo Bias and Our Asset Allocation Decisions33:20 Myo...
2023-08-2237 minDr. Bryan Foltice Behavioral Finance PodcastEpisode 10: Biases and Heuristics Part 3In this third installment of heuristics and biases, we conclude this theme by discussing some vital biases - exponential growth, amortization, self-selection, and survivorship biases. 00:00 Introduction02:25 Compound Interest - Exponential Growth Bias (EGB) 07:46 Exponential Growth Math FV=PV*(1+r)^t09:35 Implications of Exponential Growth Bias11:21 Learning Present Value - Who Wants to Be a Millionaire PV=FV/(1+r)^t16:09 Expense Fees Over Time - FV=PV*(1+r-e)^t24:48 Amortization Bias - Tendency to Believe that We pay off loans equally over time. 27:02 Self-Selection Bias29:34 Survivorship Bias 31:45 How Datasets Can...
2023-08-1535 minDr. Bryan Foltice Behavioral Finance PodcastEpisode 9: Biases and Heuristics Part 2In this episode, we continue our exploration into various heuristics and biases. We dive into various biases and heuristics. 00:00 Introduction 03:38 Status Quo Bias 07:58 Endowment Effect12:50 Wine and Information Overload19:03 "Representativeness" Defined20:13 Conjunction Fallacy25:15 Hot-Hand Effect30:01 Gamblers Fallacy 32:35 Recency Bias 33:16 Salience 35:47 Availability Bias38:55 Anchoring and AdjustmentI hope you enjoy the content and learn all about the topic of Behavioral Finance. I've set up the first few podcasts as mini lectures of my Behavioral Finance course that I teach at Butler University each semester. The goal of...
2023-08-0843 minDr. Bryan Foltice Behavioral Finance PodcastEpisode 8: Biases and Heuristics Part 1In this episode, we begin our exploration into various heuristics and biases. We dive into type 1 thinking and explore the pros and cons of our mental shortcuts. 00:00 Introduction 07:40 Background on Biases and Heuristics 08:30 Processing Constraints - Confirmation Bias and Cognitive Dissonance16:49 3 Perception Issues: Halo Effect, Primacy Effect, Recency Effect23:29 Heuristics Defined "Thinking Fast and Slow"24:04 Two Types of Thinking - Type 1 (Automatic, non-cognitive)28:00 Self Preservation Heuristics28:36 Diversification Heuristics 30:28 Ambiguity Aversion 38:48 Law of Small Numbers (myopia or short-sightedness)44:15 Type 2 Thinking (Cognitive and Requires Effort)I hope you e...
2023-08-0147 minDr. Bryan Foltice Behavioral Finance PodcastEpisode #7 - Six Challenges to Market EfficiencyIn this episode, we explore various market observations that challenge semi-strong market efficiency. Here, we learn about six challenges of market efficiency and discuss the three issues to arbitrage exploitation. 00:00 Introduction 01:40 Exercise in Market Efficiency - Beauty Contest 09:48 Market Efficiency Forms (Strong, Semi-Strong, Weak) Review12:33 Six Challenges to Market Efficiency (Semi-Strong) - #1 Small/Large Cap Stocks13:48 Challenge #2 - Value/Growth Stocks15:40 Challenge #3 - P/E Ratios (Low/High Price to Earnings Ratios)19:18 Challenge #4 - Negative Earnings Momentum 22:32 Challenge #5 - Momentum Investing 29:55 Challenge #6 - Contrarian Strategy Investing 32:17 Market Efficiency and Ar...
2023-07-2542 minDr. Bryan Foltice Behavioral Finance PodcastEpisode #6 - Prospect Theory, Framing, and Mental Accounting Part 2In this episode, we continue our deeper dive on Prospect Theory. Here, we learn about framing and mental accounting that comes with our decision-making, in life and finance. 00:00 Introduction 01:49 Introduction to Framing - Positive/Negative 07:16 Auditory Framing08:28 Visual Framing11:05 Value Framing15:44 Mental Accounting - (Sub optimally) Categorizing money, spending or financial events.23:10 Mental Accounting and Tax Refunds (& House Money Effect)25:23 Reference Point Dependence 34:59 Prospect Theory Applied to Horse (and Sports) Betting 1. Favorite/Longshot Bias 2. End of the Day Effect 3. Recency EffectI hope you enjoy the content and...
2023-07-1848 minDr. Bryan Foltice Behavioral Finance PodcastEpisode #5 - Prospect Theory and Framing Part 1In this episode, we continue our conversation on a previous podcast by doing a deeper dive on Prospect Theory. Here, we learn that prospect theory is four-fold and how to understand and use the prospect theory utility function. 00:00 Introduction 04:17 Decision #1 - Gain Domain - Risk Averse 07:06 Decision #2 - Loss Domain - Risk Seeking10:00 Diminishing Value Sensitivity - Prospect Theory Utility Function16:19 Four Fold Pattern of Prospect Theory - Decision #3 - Gain Domain20:34 Four Fold Pattern of Prospect Theory - Decision #4 - Loss Domain27:53 Integration vs. Segregation - Prospect Theory Utility Function on...
2023-07-1136 min