Every year, consumers globally are plagued by poor financial decisions, and according to behavioral scientist Wendy De La Rosa, most of these bad choices or actions can be avoided.
In a Ted Talk titled 'Why We Make Bad Financial Choices - Even When We Know Better', De La Rosa discusses what's now referred to as the 'G.I Joe Fallacy.' The fallacy disproves the theory "knowing is half the battle". De La Rosa explains that simply knowing something is not enough to change behaviour, especially when it comes to saving money or impulse purchasing. After looking at the data, the speaker states that changing one's financial habits is not an educational pursuit, but an environmental one.
Image Credit: TED, Wendy De La Rosa