Today’s guest on the Consumerism Commentary Podcast is Dr. Maggie Baker, PhD, author of Crazy About Money: How Emotions Confuse Our Money Choices and What To Do About It. Dr. Baker has been a practicing psychologist for 30 years, focusing on financial therapy and ADD/ADHD.
Table of contents
[00:00] Introduction from Bryan J Busch
[00:33] Interview with Dr. Maggie Baker
– [00:50] Our attitudes about money start in childhood
– [02:57] Spending decisions rooted in emotions
– [04:44] Become aware of and fixing self-destructive behavior
– [06:30] Gambling without emotion
– [07:54] Overriding aversion to loss
– [09:06] Brains make bad decisions
– [11:30] Mental accounting
– [16:40] Good debt and bad debt
– [18:18] Couples going through therapy together
– [21:15] End
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Theme music by Mindcube.
Updated April 13, 2016 and originally published May 22, 2011. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.