Cognitive Biases That Lead to Bad Money Decisions

Kristin Wong is an award-winning writer. Her contributions to MSN Living’s The Heart Beat blog won her an award from the Society of Professional Journalists. She regularly contributes to NBC News, Lifehacker, and Bankrate. Why is budgeting such a challenge for some of us? Well money isn’t hard because of the math, it’s the psychology that trips us up. How can we retake control of our minds and our wallets? Kristin Wong explains the cognitive biases that lead to bad money decisions.