Latest news with #NathanAstle
Yahoo
11-05-2025
- Business
- Yahoo
Behavioral Finance 101: 7 ways your brain can sabotage your finances
Have you ever avoided checking your bank account balance because you're afraid of what you'll see? Or splurged on an impulse purchase against your better judgment? You're not alone. Our emotions can take over and lead us to make questionable money decisions. Understanding why this happens — and how to prevent it — begins with understanding behavioral finance. This embedded content is not available in your region. Behavioral finance is a field of study that explores how psychological factors influence financial decisions. 'It explains why people often make financial decisions that defy logic — like overspending, avoiding bills, or staying in debt cycles — not because they're irresponsible, but because emotions like fear, shame, and stress are driving the behavior,' said Nathan Astle, a certified financial therapist. 'It's about understanding the 'why' behind our choices, not just the numbers.' People tend to have certain cognitive biases, which can negatively impact their financial decisions. Common biases include: This is the psychological tendency for individuals to strongly prefer avoiding losses over achieving equivalent wins. For example, losing $100 typically feels more emotionally painful than the pleasure felt from gaining $100. 'Our decisions and actions with money tend to be driven by the fear of losing it rather than taking the risks needed to grow it,' said Dr. Dan Pallesen, a certified financial therapist. That often causes people to make overly conservative, or even irrational, decisions with their money. For instance, you might hold on to a stock that's losing value longer than you should to avoid realizing a loss, even though you'd be better off selling it and reinvesting the money in a stock that's performing well. Overconfidence bias is the belief that you know more about a particular subject than you really do. This can lead to making uninformed financial choices, such as taking on too much investment risk without proper research or ignoring a financial advisor's recommendations. In other words, overconfidence bias can lead to expensive mistakes because your decisions are based more on self-assurance than objective analysis or hard evidence. This is a cognitive bias that causes you to rely too heavily on the first piece of information you receive, and it serves as the 'anchor' for all future decisions. There are several ways anchoring bias can play out regarding your finances. For example, let's say you want to purchase a home, and you see a listing for a house with a recent price reduction. You might feel compelled to put an offer in on this particular home because you're getting a good discount and saving money. However, further research may uncover that the property is still overpriced for the market or requires costly repairs that would cancel out any perceived savings. As an investor, anchoring bias can occur when you focus on a stock's initial purchase price or recent highs, influencing you to hold a losing investment in hopes that it will rebound. It's human nature to do something simply because everyone else is, like buying the latest iPhone when your current phone works just fine, or waiting in line for hours to try a new restaurant because it's gone viral on social media. This is known as herd mentality. But when it comes to your finances, hopping on the bandwagon can cost you. For example, during a stock market rally, people may rush to invest out of fear of missing out, and during a downturn, they might panic-sell just because others are — regardless of whether it makes sense for their investment portfolio or risk tolerance. Familiarity bias happens when people prefer things they recognize or understand easily versus situations that are new or complex. That's not always a bad thing, but when it comes to finances, familiarity bias can lead people to ignore better options in favor of what feels comfortable. For example, you might stick with a traditional savings account from the national bank where you opened your first account 20 years ago, even though you could earn 10 times more interest on your savings by switching to an online bank. This refers to the habit of treating money differently depending on where it came from. For example, you might receive your biweekly paycheck and immediately divide it into various budgeting categories to avoid overspending. But when you get your end-of-year bonus or tax refund, you're more likely to spend that money freely without factoring it into your budget — even though it's still income you worked for. The gambler's fallacy is the belief that past events influence the probability of future outcomes in random situations. It's based on the concept of a gambler who's had several consecutive losses and believes they're "due" for a win — so they increase their bet, even though the odds haven't actually improved. For investors, this can mean holding onto a stock because a series of losses means it is likely to rebound soon, or selling a stock because it's been up too long and is likely to plunge soon. Ultimately, this is due to the nature of human emotions and a deeply rooted way of processing them to protect ourselves. 'Our minds are not wired for what we would consider good money decisions today. Our minds are wired for survival,' Dr. Pallesen explained. 'Our ancestors survived with minds that helped them avoid danger and binge the resources available to them in the moment. It is no different today with money.' Allowing emotions to take the driver's seat when managing money is a dangerous game. It can impact your spending, saving, debt management, investment decisions, and more — ultimately keeping you from reaching your financial goals. But if emotions get in the way of sound financial decisions, it's not entirely your fault. 'We're not rational creatures when it comes to money; we're emotional,' Astle said. 'Many people carry 'money stories' shaped by early experiences, cultural expectations, and even generational trauma.' For example, Astle said, if you grew up watching your parents argue about money, you may subconsciously avoid budgeting as an adult. However, you can take steps to change these behaviors. 'Real financial change starts when we recognize those patterns and create space for new, healthier behaviors,' Astle noted. We asked experts for their best tips on overcoming emotions and behavioral biases to make smarter financial decisions. Here's what they said. If you're saving for a specific goal, such as your child's college tuition or a family vacation, name your savings account to reflect it. That way, whenever you log into your bank account, you get an extra boost of motivation to continue saving for that goal. Pallesen said visual cues are also a good way to inspire you to save and remind you of what's important. For instance, look at pictures of your kids before discussing household finances with your partner. Tape a picture of your favorite hobby to your computer monitor as a reminder of what you're looking forward to in retirement. Create a vision board with a friend to see and reinforce the things and values you're striving for in your life. It's common to focus on losses, but try tracking your wins as well. 'A lot of people will monitor their account balances, but they are often reviewing things that are out of their control, like stock market movement,' Pallesen said. 'Instead, track your savings rate and compare it against your past.' For example, he said, if you're currently saving 10% of your income this year, see if you bump that to 15% by the same time next year. Then track your progress in a spreadsheet or journal. 'Tracking and seeing progress is a great way to build momentum of healthy financial habits,' Pallesen added. If you're debating an impulse buy, take a beat and put the purchase on pause for 24 hours. This gives you time to consider why you feel you need it and whether you can truly afford it. After some time, you may decide that the purchase isn't worth it, helping you avoid making an impulsive decision you'll regret later. Don't be afraid to seek help from a trusted friend or financial therapist to help you navigate complicated feelings related to your finances. They may be able to help you see things from a different perspective and offer solutions to help you overcome these hurdles. It's common to fear the unknown, but avoiding your bank account balances and budget will not help you feel secure in your money management. 'Make time for a short, guilt-free check-in with your finances,' Astle said. 'Light a candle, grab a snack — remove the dread and replace it with consistency and care.' Read more: 5 psychological money hacks to cut spending and increase savings
The Guardian
09-04-2025
- Sport
- The Guardian
In praise of cricket's dibbly-dobbler
They've been charging towards the wicket ever since overarm bowling was standardised in 1864. Well, not exactly charging. They amble. They shuffle. They waddle. They gather at the crease and unfurl dibbly-dobblers. The peaches they send down are not quite ripe. The jaffas they deliver are gluten free. These are the unblessed athletes, bereft of twitching fibres and whiplash limbs. Still, they never shy away from the requisite hard graft, leaning once more into the breeze and up the hill with devoted zeal. They're as rare as pangolins in Test cricket and are all but extinct in white-ball formats on the international circuit. They are the medium-paced seamers. They used to be everywhere in the 1990s and 2000s, bowling heavy balls on probing lengths with ring fields. Their most fertile breeding ground was in New Zealand where Chris Harris, Nathan Astle, Stephen Fleming and Scott Styris led the way, but there were others. Hansie Cronje, Steve Waugh, Saurav Ganguly, Phil Simmons, Paul Collingwood, Andrew Symonds, Adam Hollioake; you could select a side comprising only those who wouldn't get the new ball for your local club's first XI and still have a decent shot at winning a World Cup. Now they feel like an anachronism. According to CricViz no seamer who bowls below an average speed of 125km/h has taken more than 50 Test wickets over the past 10 years. The closest are Pakistan's Mohammed Abbas, who clocks in at 126km/h, and Jason Holder and Vernon Philander, who each average 127km/h. But they don't count. All three are among the top four wicket-taking seamers in Tests for their countries over the past 20 years. Holder's 6ft 7in is a weapon on its own and means he just has to land the ball on a spot to cause trouble at the other end of the pitch. Philander and Abbas are human metronomes, experts of the wobble ball with averages around 23 in Test cricket. These are the exceptions that prove the rule. So, where did they all go, those sidling seamers? The short answer is that they were hunted out of existence. In their heyday, medium pacers had the luxury of bowling wicket-to-wicket lines, often with the wicketkeeper standing up, with a slew of fielders protecting the boundary. Batters were content to nudge and nurdle them around the park as they meandered through the middle overs of ODIs or the hour before a break in Tests. Everything changed in 2005. The 50-over game saw the introduction of three powerplays which increased the number of overs with fielding restrictions. That same year the first T20 international was staged and a new generation of batters began to rethink the limitations of their forebears. They started to hit through the line and over the top with greater frequency. Thicker bats, harder decks and the use of two new balls made it easier to play lofted drives and pick-ups off the pads. Batters, once stationary, moved around their crease making it impossible to settle on line and length. The margin for error was atomised for any bowler who couldn't crank up their speed or bewitch with an arsenal of spin options. Then there were the cultural shifts. By this stage speed guns were regular fixtures at grounds and the shortcomings of some bowlers were laid bare. It was almost embarrassing to see your hero give it his all but barely nudge the dial past 110km/h. Batters, selectors, captains and the rest of us woke up to the realisation that these anthropomorphised bowling machines could simply be thwacked into orbit. As they say in Pakistan – unsurprisingly the only Test nation without a standout trundler – 'pace is pace'. It's easy to understand how the potent mix of fear and awe has warped the discourse. Between now and England's away Ashes at the end of the year we'll hear how Ben Stokes's attack lacks speed. We'll wonder if Mark Wood and Jofra Archer can hold their bodies together for one final salvo. We'll question if Ollie Robinson has the oomph to lead the assault, forgetting that Jimmy Anderson was England's leading wicket taker the last time the side won in Australia. Thankfully there's a haven where the endangered medium-man can find joy. Acting as the Sichuan Giant Panda Sanctuary of the cricket world is the County Championship. Here a crimson Dukes, nibbling surfaces and fluffy cloud cover have helped preserve a dying art. Darren Stevens is the alpha of these betas, a legend who sent down 31,595 dobblers across 326 first-class matches over a 25-year career. And every time he did he weaved a thread connecting the elite game and the village green. Of course Stevens and his ilk performed their craft to an impeccable standard, and it's only wild fantasy that makes him remotely relatable. But apart from a tailender's swipe across the line, all of us can cosplay at being a professional cricketer. We might not be able to cover drive like Joe Root, take flying catches like Glenn Phillips or bowl thunderbolts like Jasprit Bumrah. But we can all amble and shuffle and waddle towards the crease, gather our limbs and send down a dibbly-dobbler. Do you remember when you made the leap into adulthood? I do. It hit me in the chest like a bouncer from Shoaib Akhtar. It was April 7 2000. I was 12 years old, still coming to terms with South Africa's exit from the World Cup the year before when my world fell apart. In testimony that still leaves me cold it was revealed that Hansie Cronje, the captain of the Proteas, a man hand-picked by Nelson Mandela to be a beacon of hope for a new democracy, my hero, had taken money from Indian bookmakers in exchange for fixing matches. Not only had he sold his country out for a few thousand dollars, he tried to rope in impressionable young teammates as well. Cronje said that it was an 'unfortunate love of money' that compelled his actions. He wept on the stand as he faced the full force of the King Commission, copping a life ban from any involvement in the sport. I remember watching with my mother in disbelief as I came to terms with some harsh truths all at once. This was the real world; ugly, broken, remorselessness. This showed me that good men were capable of terrible acts. That greed had the capacity to strangle patriotism. That even the selfless and the gifted could betray their values. It took me a while to get over it. Maybe, in some small way, I'm not quite there. Cronje died a year later, on my birthday, June 1 2002, when the light cargo plane he was on crashed into a mountainside near his home in South Africa's Western Cape province. I mourned his death but still felt angry. Now I just feel sadness when I think of him. He never lived long enough to win back the love of his people. I have no doubt that he would have. And though his legacy is forever tainted, time has helped heal some of the wounds he inflicted. If for nothing else besides teaching me some valuable lessons, I still hold him in high regard. The threat of a privately owned franchise league threatening cricket's ecosystem is nothing new. And while the encroachment of the Indian Premier League and all its subsidiary competitions feels existential, it is not unprecedented. Between 1977 and 1979, Kerry Packer's World Series Cricket upended the status quo and helped usher in a new age of professionalism. And crimes against fashion. 'This is the best day I've had in cricket and will probably be the best day I'll ever have' – Tom Banton gushes after hammering 371 for Somerset against Worcestershire, the fifth-highest individual score in the 135-year history of the County Championship. Spring is in the air and the Championship returns in style – Gary Naylor looks back at the opening round of games. Northamptonshire chair Gary Hoffman gets his chat on with Matt Hughes. And Carl Hooper's life in sport: from West Indies to Australia via county cricket – Jo Harmon talks to the 1990s great. … by writing to To subscribe to The Spin, just visit this page and follow the instructions.
