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In a perfect world, logic would always guide our financial decisions. Emotions wouldn’t come into play. But we don’t live in a perfect world. Far from it. That means our emotions impact our financial choices more than we realize. Shockingly as much as 95% of our purchase choices are made subconsciously, driven by our emotions—as little as 5% are based in logic (and that’s when we’re in a good headspace and feeling comfortable and secure).
Clutter is a common annoyance, especially in a busy household. But did you know it sneaks up in your financial life as well? And that it can also cost you money?
About 4 out of 5 people say yes. Most also believe they’re better than others at spotting scams. Yet, scams work—and they’re more prevalent and profitable than ever before. In fact, every 15 seconds, someone’s getting scammed. Each year, that’s billions lost. Seniors alone lose at least $2.9 billion a year to con artists. And they aren’t even the most vulnerable marks. Millennials are.
If you could be alive at any time in history, when would it be? Would you choose to live right now? Objectively, things aren’t easy for most of us right now. We’re facing social, economic, health, and environmental crises. With all the chaos of today, it can be tempting to lean on nostalgia and believe previous generations had it better or easier. And it can make us long for what seem like simpler times.