Examples of behavioral science in action, including within the subtitle of Richard’s new book, The Illusion of Choice

Consumer behavior is a fascinating area of research. While people like to think they make objective decisions about what to buy or not buy, there are a lot of factors that influence those decisions such as description, price, ease of use and many more. And they influence you in ways that are not so obvious. Joining me to explain these factors is Richard Shotton. He is a behavioral scientist and author of the book The Illusion of Choice: 16 ½ Psychological Biases That Influence What We Buy

As Morgan Housel put it in his book – The Psychology of Money – when building wealth: “The first idea – simple, but easy to overlook – is that building wealth has little to do with your income or investment returns, and lots to do with your savings rate.”

Jonathan Clements has a new book out called My Money Journey in which 30 people share how they achieved financial freedom.