Understanding Ambiguity Aversion: How Uncertainty Affects Financial Decisions

In this episode of the Money Strong podcast, hosted by Dr. Bryan Foltice, we dive into the concept of ambiguity aversion as part of our Psychology Saturday segment.

Bryan explains how individuals prefer known risks over uncertain outcomes and how this affects various aspects of financial decision-making, from stock market behavior to personal finance choices. Real-life examples include investment preferences, insurance purchases, and career decisions.

Bryan also shares his personal experiences and offers practical steps to help listeners overcome ambiguity aversion and make more informed financial choices. Tune in for insights and actionable advice to enhance your financial well-being.

00:00 Introduction to Psychology Saturday
01:42 Understanding Ambiguity Aversion
03:36 Ambiguity Aversion in Finance
07:27 Ambiguity Aversion in Personal Decisions
11:20 Overcoming Ambiguity Aversion
16:54 Conclusion and Call to Action

You can also find more information and free resources at www.bryanfoltice.com and at www.moneystrong.net.

Support the show

Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com
Money Strong Program - www.moneystrong.net

Instagram - www.instagram.com/bryanfoltice
Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/

Disclaimer: www.bryanfoltice.com/cv

Understanding Financial Independence: Breaking Down the Four Levels

In this episode of the Money Strong Money Monday podcast, hosted by Dr. Bryan Foltice, the focus is on clarifying the concept of financial independence.

Bryan introduces a four-level framework to help listeners understand and navigate their journey toward financial independence.

He starts by defining Level 1 as the stage where individuals work to get out of debt and build an emergency fund.

Level 2 involves generating passive income through assets like real estate and stocks.

Reaching Level 3 means passive income exceeds expenses, allowing more financial freedom.

Finally, Level 4 represents ultimate financial flexibility, where income surpasses all expenses by a significant margin.

Bryan also encourages listeners to engage with Money Strong's online resources, including their educational programs and social media channels.

00:00 Welcome to Money Strong Money Monday
00:21 Introduction to Financial Independence
00:49 Money Strong Programs and Offers
02:39 Understanding Financial Independence Levels
05:02 Level 1: Ground Level Starting Line
06:42 Level 2: Building Passive Income and Wealth
09:36 Level 3: Passive Income Outweighs Expenses
14:43 Level 4: Ultimate Financial Flexibility
16:16 Conclusion and Final Thoughts

You can also find more information and free resources at www.bryanfoltice.com and at www.moneystrong.net.

Support the show

Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com
Money Strong Program - www.moneystrong.net

Instagram - www.instagram.com/bryanfoltice
Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/

Disclaimer: www.bryanfoltice.com/cv

Understanding Mental Accounting: Avoiding Common Financial Pitfalls

In this episode of the Money Strong Personal and Behavioral Finance podcast, host Dr. Bryan Foltice introduces 'Psychological Saturday' with a deep dive into mental accounting. Learn how categorizing money in different areas can lead to both optimal and suboptimal financial decisions.

This episode covers how we categorize our investments, income, and financial events, and explores concepts from prospect theory, loss aversion, and the sunk cost fallacy.

Bryan also highlights the tendency to overweight low probabilities and offers tips on making better financial decisions. Tune in for insights that could transform your approach to personal finance.

Visit www.MoneyStrong.net and connect on social media for more financial advice and resources.

00:00 Introduction to Mental Accounting
00:59 Behavioral Finance Concepts
02:12 Categorizing Investments and Income
06:03 Categorizing Spending
11:06 Categorizing Financial Events
16:48 Overweighting Low Probabilities
18:39 Conclusion and Further Learning

You can also find more information and free resources at www.bryanfoltice.com and at www.moneystrong.net.

Support the show

Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com
Money Strong Program - www.moneystrong.net

Instagram - www.instagram.com/bryanfoltice
Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/

Disclaimer: www.bryanfoltice.com/cv

Side Hustles: Should You Have One? Exploring All Angles

Welcome to the Money Strong Personal Finance podcast! Join Dr. Bryan Foltice as he delves into the heated debate around side hustles. Discover the pros and cons, various types of side hustles, and key considerations for deciding when and if you should take on a side gig.

Bryan shares personal anecdotes and statistical insights, all while maintaining a balanced viewpoint to help you make an informed decision about your financial future. Tune in and learn how side hustles can help you achieve your financial goals, or if they might lead you to burnout.

00:00 Introduction to the Podcast
00:48 Updates and Announcements
02:24 The Side Hustle Debate
07:30 Types of Side Hustles
14:41 When Not to Pursue a Side Hustle
19:30 Conclusion and Final Thoughts

You can also find more information and free resources at www.bryanfoltice.com and at www.moneystrong.net.

Support the show

Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com
Money Strong Program - www.moneystrong.net

Instagram - www.instagram.com/bryanfoltice
Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/

Disclaimer: www.bryanfoltice.com/cv

Overcoming Financial Planning Obstacles: 4 Common Pitfalls and How to Avoid Them | Money Strong Podcast

In this episode of the Money Strong Podcast, host Bryan Foltice discusses the key reasons why many people struggle with long-term financial planning. He outlines four major obstacles: not starting at all, quitting after setbacks, creating unsustainable plans, and losing motivation. Bryan shares strategies to overcome these hurdles by breaking down financial goals into manageable steps, maintaining consistency, and building sustainable plans. He also highlights the importance of community support and mental resilience in achieving financial success. Tune in for actionable advice and frameworks to strengthen your financial future.

00:00 Introduction and Podcast Overview
00:40 End of School Year Reflections
01:54 Transition to Summer Mode
02:26 Why We Fail at Financial Planning
02:44 Reason 1: Not Starting - Due to Being Overwhelmed & Opening Accounts
09:22 Reason 2: Quitting After Setbacks
14:28 Reason 3: Unsustainable Plans
19:46 Reason 4: Losing Motivation
22:27 Conclusion and Call to Action

Support the show

Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com
Money Strong Program - www.moneystrong.net

Instagram - www.instagram.com/bryanfoltice
Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/

Disclaimer: www.bryanfoltice.com/cv

Navigating Stock Market Corrections: Lessons in Emotion, Timing, and Diversification

In this episode of the Money Strong Podcast, host Bryan Foltice discusses the recent stock market correction of 2025. Bryan delves into the importance of remaining unemotional during market downturns and views these periods as buying opportunities. He emphasizes key lessons in managing emotions, understanding time horizons for investments, and the critical role of diversification. Bryan shares his personal experience with loss aversion and offers practical advice on rebalancing portfolios to mitigate risks. Watch and learn how to navigate financial turbulence with a balanced and informed approach.

00:00 Introduction to the Money Strong Podcast
00:48 Reflecting on Recent Market Performance
01:38 Understanding Emotional Reactions
03:38 Lessons from Market Corrections
08:48 The Importance of Time Horizon
11:53 Diversification Strategies
16:13 Rebalancing Your Portfolio
20:33 Final Thoughts and Viewer Engagement

Support the show

Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com
Money Strong Program - www.moneystrong.net

Instagram - www.instagram.com/bryanfoltice
Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/

Disclaimer: www.bryanfoltice.com/cv

10 Keys to Improve Financial Communication with Your Partner

Join Bryan Foltice in the Money Strong Personal Finance Podcast as he discusses how to effectively talk about money with your significant other. This episode dives into 10 key strategies to help build a stronger relationship through financial conversations. Topics include setting regular financial check-ins, maintaining transparency, working as a team, and celebrating milestones together. Bryan also shares his personal experiences and valuable insights into creating a harmonious financial partnership.

1. Set a Regular Money Date

• Schedule a relaxed time (weekly, biweekly, or monthly) to discuss finances.
• Keep it low-pressure—maybe over coffee or dinner.

2. Be Honest and Transparent

• Share your income, expenses, debts, and financial goals.
• Avoid hiding purchases or financial decisions.

3. Focus on Teamwork, Not Blame

• Approach money as a team effort rather than pointing fingers.
• Use "we" statements instead of "you" (e.g., "How can we improve our savings?" instead of "You need to stop spending so much").

4. Define Shared Goals

• Discuss what matters most—paying off debt, saving for a house, investing, etc.
• Align on long-term goals like retirement or travel.

5. Understand Each Other’s Money Mindset

• Discuss how you were raised with money and how it affects your financial habits.
• Recognize if one of you is a spender and the other is a saver—find a balance.

6. Use a Budget That Works for Both of You

• Choose a budgeting method that fits your lifestyle (e.g., joint or separate accounts, percentage-based budgeting).
• Use apps or spreadsheets to track spending together.

7. Give Each Other Some Financial Freedom

• Set aside “no-questions-asked” personal spending money.
• This avoids micromanaging and resentment.

8. Handle Disagreements Calmly

• If tensions rise, take a break and return to the conversation later.
• Compromise where possible and seek solutions, not arguments.

9. Consider a Financial Advisor or Coach

• If discussions become too difficult, an objective third party can help.

10. Celebrate Progress Together

• Acknowledge wins—paying off a debt, reaching a savings goal, etc.
• Reward yourselves for good financial habits.

Support the show

Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com
Money Strong Program - www.moneystrong.net

Instagram - www.instagram.com/bryanfoltice
Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/

Disclaimer: www.bryanfoltice.com/cv

Overcoming Negativity Bias: Strategies for Financial Resilience | Money Strong Podcast

In this episode of the Money Strong podcast, host Bryan Foltice discusses the common human tendency towards negativity bias and its implications for personal finance.

He provides updates on the rebranding of the podcast and the new Money Strong College Program available on various platforms.

Bryan shares personal stories and insights into the current state of the stock market, emphasizing the importance of maintaining a positive mindset during financial downturns. He explores historical market trends, the emotional impact of market fluctuations, and strategies for managing and overcoming negativity bias to achieve long-term financial success.

Bryan encourages listeners to stay the course with their investments, learn from setbacks, and continue to save diligently. The episode blends behavioral finance concepts with practical financial advice aimed at helping individuals build a robust financial future.

00:00 Introduction to the Money Strong Podcast
01:19 Personal Updates and New Beginnings
03:37 Market Overview and Negativity Bias
06:05 Investment Strategies and Diversification
09:42 Behavioral Finance and Overcoming Negativity
16:38 Lessons from Past Market Experiences
20:53 Strategies to Overcome Financial Setbacks
22:02 Conclusion and Viewer Engagement

Support the show

Bryan Foltice Behavioral Finance Website - www.bryanfoltice.com
Money Strong Program - www.moneystrong.net

Instagram - www.instagram.com/bryanfoltice
Linkedin - https://www.linkedin.com/in/bryan-foltice-2578a116/

Disclaimer: www.bryanfoltice.com/cv