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WORLDVIEW: The biggest money mistake we all keep making
We all make plenty of mistakes when it comes to our money. But there’s one simple mistake that - in my opinion at least - is the worst of the bunch.
By Felicity Duncan
We all make plenty of mistakes when it comes to our money. After all, we're only human, with all the perceptual biases, cognitive quirks, and behavioural limitations that entails. But there's one mistake that – in my opinion at least – is the worst of the bunch.
This mistake costs us all a small fortune and encourages bad behaviour on the part of our financial counter-parties, like banks, fund managers, and insurance companies. In that way, it erodes the performance of the financial industry as a whole, as well as our personal financial performance.
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