Financial Irrationality During COVID-19 Crisis

Banking Transformed with Jim Marous · Apr 14, 2020 · 30m

Despite the best intentions, consumers do not always act rationally with regards to money management. While we all know that we should limit debt and increase savings, many people live day-to-day, and have far less set aside for financial emergencies than needed.

Unfortunately, most people’s irrational behavior around money became exposed with the impact of COVID-19. Across the globe, households lost their safety net of predictable events that they depended on, from a regular paycheck to savings that they had planned to set aside.

Today’s guest on the podcast is Dan Ariely, the foremost…