Why we make irrational money decisions (and how to stop) with Evan Lucas

We all like to think we're rational when it comes to our finances.But the truth is, most of our money decisions are driven by emotion, family history, and psychology.So does that mean we're trapped by our brains? Forced to make illogical decisions from now until eternity? Not necessarily.In this episode of Money & a Good Life, Steph and Ryan sit down with Evan Lucas, behavioural finance specialist, media commentator, author of Mind Over Money, and host of the podcast Exchanges with Evan Lucas to explore how our emotions and cognitive biases affect our money decisions and why we sometimes act against our own best interests.If you've ever wondered why you keep making financial decisions you know aren't ideal, or how to build better financial habits that actually stick, this conversation reveals the psychology behind the patterns and how to change them.What we talk about:What behavioural finance is in simple terms and why it mattersCommon irrational financial decisions that sensible people makeWhy we continue making financial decisions we know aren't idealWhat's happening psychologically in those momentsWhat delayed return decisions are and why they're importantHow much of our financial behaviour is shaped by family history, heritage, and economic environmentBehavioural patterns across generations, how baby boomers handle finances differently to Gen XSeparating short-term market noise from long-term financial strategyFor people in their 40s or 50s juggling mortgages, ageing parents, and teenage kids—one financial behaviour Evan wishes more people would adoptWhat Evan has learned about how people really want to engage with money through his career communicating complex financial ideasIf you've ever self-sabotaged with money or struggled to stick with good financial habits, this episode will help you understand why it happens and what you can do about it.Here's to your Good Life. And thanks for listening.Find us at www.tribecafinancial.com.auOur guest:Evan Lucas, behavioural finance specialist, media commentator, author of Mind Over Money, and host of the podcast Exchanges with Evan LucasFollow Evan on InstagramConnect with Evan on LinkedInVisit Evan’s website Our hosts:  Ryan Watson, CEO, Tribeca Financial  Connect with Ryan on LinkedIn Stephanie Coombes, podcast expert and media strategist  Connect with Steph on LinkedInTribeca Collective Pty Ltd, ABN 54 604 005 209 trading as Tribeca Financial has been appointed as a Corporate Authorised Representative (CAR No.1008603) of My Dedicated Advisory. My Good Life ® is a registered trademark of Tribeca Collective Pty Ltd.  Advice given in this podcast is general in nature and is not intended to influence decisions about investing or financial products. Our listeners should always seek their own professional advice that considers their own personal circumstances before making any financial decisions.  Tribeca Financial acknowledges the Traditional Owners of Country throughout Australia, and we pay our respects to Elders past and present.