Why People Are Irrational, Biased and Emotional With Money

Tuesday, February 18, 2025
Webcast or Webinar, Online
9:00 AM - 11:00AM (opens at 8:30 AM) EST
2Credits
Behavioral

Registration is Open

Members
$89.00 Regular Price
Non-Members
$119.00 Regular Price

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$40.00 Members / $56.00 Non-Members
Course Type: Webcast
Course Code: 24/CX47002
Level: Overview
Vendor: CPA Crossings, LLC
Field of Study: Behavioral Ethics

Overview:

In this course, we will explore the psychological and behavioral factors that contribute to irrational and biased money decision-making. We will examine the role of cognitive biases and emotions in financial decision-making, and discuss strategies for overcoming these biases to make more rational financial choices. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Objectives:

After attending this presentation, you will be able to...
  • Recognize the psychological and behavioral factors that contribute to irrational and biased money decision-making
  • Identify common cognitive biases that impact financial decision-making
  • Identify the role of mental accounting in financial decision-making
  • Recognize the dangers of the ostrich effect in financial planning
  • Use strategies for overcoming cognitive biases and emotions in financial decision-making
  • Recognize the impact of present bias on financial planning
  • Recognize the pitfalls of the sunk-cost fallacy in financial decision-making
  • Identify the role of anchoring bias in financial decision-making
  • Recognize the impact of status quo bias on financial decision-making
  • Recognize the dangers of the bandwagon effect in financial planning

Major Topics:

The major topics covered in this course include:
  • Common irrational money decisions
  • Cognitive biases and their impact on decision-making and ethical behavior
  • Mental accounting
  • The ostrich effect
  • Present bias
  • Sunk-cost fallacy
  • Anchoring bias
  • Status quo bias
  • The bandwagon effect
  • Emotional responses in money decisions
  • Major Topics:

    The major topics covered in this course include:
    • Common irrational money decisions
    • Cognitive biases and their impact on decision-making and ethical behavior
    • Mental accounting
    • The ostrich effect
    • Present bias
    • Sunk-cost fallacy
    • Anchoring bias
    • Status quo bias
    • The bandwagon effect
    • Emotional responses in money decisions
    • Designed For:

      This course is intended for anyone interested in improving their financial decision-making skills, including individuals, financial professionals, and business owners. It will be especially useful for those who have struggled with making irrational or biased financial choices in the past.

      Prerequisites:

      While no specific knowledge is required to take this course, it may be beneficial to have a basic understanding of financial concepts and terminology.