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Episode 338 | Going Ape S#!t: How To Hack Your Brain To Make More Money – Chat with Phil Slade

What if we told you there’s a hidden part of your brain that controls your financial decisions… even if you believe you’re the one calling the shots!?!

Folks, today we have a very exciting episode in store for you (Ben’s in his absolute element!) that’s about to reveal how to hack your brain to make you more money!

Here’s the reality… despite our best intentions, we DON’T make decisions out of spreadsheets – we make decisions out of emotions!

And this is where Behavioural Economics comes in.

That is: the study of the “how and why” behind our financial and property choices. The “Oh, yeah, I’m actually a human!” stuff that deeply influences our choices and the economy at large.

Fun Fact: This is the EXACT same study we used to make the correct judgement call way back in March last year (when COVID panic was at its peak!) that the property market was NOT going to fall off a cliff despite the scary economic predictions out there.

… And it ALL comes down to understanding human behaviour!

Joining us today is Behavioural Economist and Psychologist Phil Slade – the author of “Going Ape S#!t” , Founder of Decida and regular contributor to Money Magazine.

Phil makes neuroscience simple, interesting and FUN by highlighting irrational ‘blind-spots’, increasing awareness of cognitive biases that influence perception and behaviour, and inspiring people to become less reactive, and more responsive!

And he’s going to fill you in on a little thing called “The Ape Brain” and how you can tame it with a simple framework that’ll get you making better financial decisions, winning at auction (or walking away so you don’t pay too much!) and delaying gratification in a way that doesn’t trigger dread or make you feel like you’re missing out in the present moment.

Strap yourselves in folks — ‘cos no word of a lie: nail this, and you’re pretty much set for life. (Money is Simple… Behaviour is Hard, right!?!)

 

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Here’s what we cover…

  • What factors are studied in Behavioural Economics?
  • Behavioural Economics vs Classical Economic Theory (note: don’t stress, this is a palatable explanation 😉)
  • How much of the population applies this stuff to their decision making around finance?
  • How did Phil get into this field, anyway?
  • 3 Simple Ways To Apply Behavioural Economics To Your Finances!
  • How much of your income should you save?
  • What is Cognitive Bias and how does this shape your relationship to money
  • How To Tame Your Ape Brain So It Doesn’t Steal Your Money!
  • What’s the #1 Killer Of Financial Independence!?!
  • Why does the gap between your “Real Self” and “Presentational Self” have such a significant impact on your choices?
  • Why is Afterpay so dangerous!?!
  • Who are Amos Tversky and Daniel Kahneman? (And why should you care about them!?!)
  • The Dunedin experiment: What it teaches us about human behaviour!
  • Is all emotion BAD?
  • Practical Application For Property Investors!
  • How can you tame your ape in an auction environment?
  • What is “Loss Aversion” & “Endowment”?
  • Right… how can we HACK our brain to make us more money!?!

 

 

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