Money and the mind: How to make better financial decisions

When we think about money we’re actually thinking about a lot more than just money. It’s a big part of our lives, with many of our decisions dictated by our finances - yet most of us have very little training on how to make what we have go further.

As humans, we are biased, impulsive, inconsistent, easily led, and we often make decisions that work against us - characteristics that put us at odds with sensible financial decision-making. What is the psychology behind it and is it possible to rewire our brains to make better choices?

In this evening class with behavioural scientist Dr Stian Reimers, reader at City, University of London, you will learn about how financial decisions are made and why they can go wrong. Through the latest research on finance psychology, the biases we show in our preferences, and the factors that affect how we choose, you will gain a better insight into the ways you and those around you think about personal finances, as well as being equipped with practical techniques for improving the decisions you make.

This class is for anyone who has tried - and failed - to budget, those who want to learn why they make the financial decisions they do, and anyone who works for a business with a desire to understand how their customers think about money, from entrepreneurs to marketing professionals and product designers.

Course content

Why the mind isn’t a computer, and what that means for your financesHow financial decisions involve a lot more than moneyThe shortcuts we take when we think about moneyHow we think about risk and time, and the biases we showThe good and the bad of emotional decision-makingMoney and the brain: the science of neuroeconomicsHow to prioritise spending to maximise enjoyment

This class is for....

Anyone interested in understanding and improving their relationship with moneyAnyone who wants to gain an insight into the psychology of financial decision-makingAdvisers, entrepreneurs or product designers with a desire to understand how their customers think about money

Tutor profile

Stian Reimers is a Reader at City, University of London. He has 15 years of experience researching the behavioural science of financial decision making, as well as consulting for banks, insurers and government departments. He lectures on Behavioural Economics and Decision Making, and has worked extensively with the BBC on TV and radio series around human behaviour.