Category: Blog

(This is the last blog of three about biases and how they impact our financial planning, all published this month.)

If you’ve ever walked away from a brilliant webinar or insightful podcast thinking, “Yes! I’m going to make a change,” and then done… nothing, welcome to the club!

Change is hard. Not because we’re lazy, but because our brains are wired for survival, not clarity. In this final blog of our series on cognitive bias, we look at the subtler biases that shape our sense of normal, our timeline for success, and even our self-worth. These aren’t always loud, but they’re powerful.

Let’s dig into a few that may be influencing you more than you think.

Constancy / baseline bias

We tend to normalise whatever we experience repeatedly, even if it’s stressful or unhealthy. If your household never talked about money growing up, silence might feel “normal.” If debt was always present, financial pressure might feel “expected.”

This becomes your emotional baseline. It takes real work (and often some outside perspective) to reset that baseline and build a new normal. One rooted in calm, clarity, and sustainable choices.

Consciousness (readiness) bias

Some things can’t be seen from where we are.

This isn’t about intelligence; it’s about perspective. We may simply not be ready to take in certain truths until something shifts. A relationship deepens. A crisis hits. Or we hear a story that unlocks something. (choice or trauma)

This is why compassionate financial advice matters. It’s not about shaming someone for what they haven’t done. It’s about walking with them until they’re ready to see something differently — and act on it.

Cleverness bias

Sometimes, we’re so determined not to be fooled that we become cynical. Especially if we’ve been burnt before by a dodgy financial product, a business partner, or even a parent who mismanaged money.

We distrust everything that sounds good, write off new ideas as too naïve, or reject help as unnecessary. But suspicion is not the same as wisdom. Building trust again, with yourself, and with your financial team, is part of healing.

Cash bias

It’s hard to question the system that pays you. If your job, career, or business relies on a certain status quo, like high stress, unhealthy margins, or keeping up appearances, it can be incredibly hard to challenge it.

But avoiding the question doesn’t mean the cost isn’t real. Separating the values of who pays you from what you truly believe or want is helpful in removing cash bias.

Conspiracy bias

When we feel threatened or ashamed, we tend to invent explanations that make us feel better, even if they’re not true! “The system is rigged.” “There’s no point trying.” “People like me don’t get ahead.”

Sometimes, these feelings are rooted in very real experiences of injustice. But the danger is when they freeze us. When they become a story we repeat instead of a prompt to reflect, reframe, and respond.

Bias is human. But awareness is powerful in that it enables us to see differently and choose differently. And financial planning, when done well, is not just a numbers game; it’s a chance to reflect, recalibrate, and reset the trajectory of your life.

Hopefully these three blogs will be an invitation to self-reflect, not to become self-critical. An invitation to pause. To ask, “What’s shaping me?” And then, with support, to shape something better.

If financial planning were just about logic, calculators would replace conversations. But as we all know, that’s not how life works.

Your relationship with money isn’t built solely on maths; it’s built on meaning. And meaning is shaped by how we see the world, how we were raised, the communities we belong to, and what we believe makes us “good” or “successful” or “safe.”

So let’s pack those calculators away for just a second.

This second blog in our series on bias looks at how identity-based and emotion-driven patterns can subtly (or not-so-subtly) shape financial decisions — even when they conflict with our goals!

Let’s explore a few examples:

Conservative / liberal bias

We’re not talking political parties, but rather the emotional undercurrents that shape how we define fairness, authority, liberty, or security.

Some people gravitate towards fairness and nurturing, wanting to provide, protect, and support. Others lean towards loyalty, structure, or personal freedom. These instincts affect how we approach money.

Are you more likely to help others first, or protect your independence? Do you seek consensus or prefer taking bold solo action? A financial plan that ignores these drivers might look great on paper, but won’t feel sustainable in practice.

Certainty / closure bias

Our brains hate not knowing. In fact, we’ll often grab onto the first answer that makes us feel safe — even if it’s not the best answer.

You see this in how some people rush to sell investments when markets dip, or how they hold onto outdated plans because at least “something” is in place. But reaching for closure too quickly can cost more in the long run.

The better approach? Create a plan that holds space for uncertainty. One that’s responsive, not reactive.

Comfort bias

Yes… this was mentioned in the previous blog, but it deserves repeating. Comfort bias is the emotional nudge to stay exactly where you are, even when the cost of inaction is high.

We avoid facing estate plans because they make us think about death. We delay tough conversations about money with family because they’re awkward. We procrastinate updating our cover or our will or our risk protection because “it’s not urgent today.”

A good planner helps you move gently, but firmly, through this fog. Small steps, big difference.

Catastrophe bias

We remember the big scary stories: job losses, market crashes, that one time a friend lost everything. But we forget the quiet, consistent wins, the savings that grew over time, the insurance that protected a loved one, the plan that kept a family steady during chaos.

It’s not that catastrophes don’t matter. But they’re not the whole story. Financial resilience is about zooming out, not just reacting to what made headlines last week.

Contact bias

If we’ve never truly listened to someone different from us — a different culture, class, gender, or generation — our assumptions often go unchecked.

This shows up in how we approach generational wealth, gifting, shared expenses, and even who we ask for financial advice. Sustained contact with “the other”, or simply hearing different perspectives, helps broaden our sense of what’s possible.

It helps us think better, together.

In the next and final blog of this series, we’ll explore the subtle biases that affect our sense of time, status, and self-worth. Because often, what feels like a “money issue” is really a mindset moment waiting to be reframed.

FACT: It’s hard to see what we can’t see…

One of the hardest truths to accept — in finance, relationships, and life — is that our thinking isn’t always as clear as we believe it is. We all have blind spots. Not because we’re foolish, but because we’re human. And, we don’t know… what we don’t know.

Biases are the invisible forces that shape our decisions and filter our perceptions. They form from lived experience, the communities we belong to, and the stories we’ve been told. And, they often do their work in silence.

You don’t notice them until you actively go looking. And even then, it takes courage to admit they might be holding you back.

In financial planning, these blind spots can derail even the most innovative strategy. A well-diversified portfolio means little if it’s being second-guessed by internal narratives you’ve never examined. This first blog explores six of the more common biases we see, especially when people are navigating life transitions or trying to plan responsibly for the future.

Let’s unpack a few:

Confirmation bias

We tend to believe what aligns with what we already know. When we encounter new data, we measure it against our existing assumptions — not necessarily against the facts. This is why some investors keep holding underperforming assets, or why clients dismiss opportunities that “just don’t feel right” even if they’re aligned to the plan.

When working through change, this bias can make us cling tightly to the past, rather than opening up to possibility. The antidote is curiosity — and a financial planner who can offer a new lens, not just more information.

Complexity bias

We assume complex problems need complex solutions. Sometimes, a simple and effective financial strategy is rejected because it doesn’t “sound clever enough.” But simplicity is often a marker of wisdom, not a lack of intelligence.

This is where our relationship can offer tremendous value — not by dazzling you with jargon, but by simplifying the noise into something you can confidently act on.

Community bias

It’s hard to question what everyone around you accepts as normal. If your peers are investing in property, starting a side hustle, or avoiding certain decisions, it can feel uncomfortable to choose a different path — even when that path is better aligned with your goals.

The goal isn’t to follow the herd, but to tune into your own definition of success.

Competency bias

We all have blind spots about how much we know (and how much we don’t). Some people overestimate their expertise and avoid professional advice. Others underestimate their understanding and feel too intimidated to ask questions.

The role of a financial planner isn’t to judge either. It’s to walk with you — to help you make confident, informed decisions, no matter your starting point.

Comfort (familiarity) bias

Let’s face it — change is hard. Our brains are wired to favour what feels familiar, even if it’s not working. We avoid the discomfort of revisiting old plans, challenging bad habits, or having difficult conversations.

That’s why small, manageable changes matter. A planner can help you take the first step toward a better outcome, without demanding a complete overhaul.

Confidence bias

We often trust the loudest voice in the room. Confident people, bold strategies, and market hype can sway even the most rational thinker. But confidence isn’t always competence.

That’s why part of financial planning is learning to trust your own process — not the noise. True confidence comes from clarity, not charisma.

In the next blog, we’ll explore biases that show up in our emotional and political identities — including our reactions to risk, fairness, fear, and control. Because when it comes to money, it’s never just about numbers.

It’s about what shapes us.

When it comes to financial planning, some goals can take decades to come to fruition. Retirement. Paying off a bond. Funding education. Leaving a legacy.

Long-term goals matter; they guide our decisions and give us direction. But here’s the catch: they’re also really far away. And without smaller wins along the way, it’s easy to lose motivation, second-guess our plan, or drift into inaction!

That’s why short-term wins aren’t just nice to have. In fact… they’re essential!

Short-term wins help us maintain momentum, they build confidence, and they remind us that progress is indeed happening, even when the big goal still feels far off.

You see, big goals take time. But our brains are wired for reward and reinforcement. When we only measure success by distant milestones, it’s easy to feel like we’re failing, even when we’re doing everything right.

Think about it:

– Saving for a 20-year retirement? That’s abstract.

– Finally reaching 3 months of emergency savings? That’s tangible.

– Changing the way you talk and feel about money? That’s a win.

– Getting your will in place? That’s a win.

– Tracking your spending for one month and noticing a pattern? That’s a win.

– Aligning your goals with your spending? That’s a win.

Micro-goals support the macro vision. They’re like trail markers on a hike, signs you’re going in the right direction, even when the summit is still out of sight.

Now, there’s no universal checklist. It depends on your life, your goals, and your starting point. But here are some examples that tend to work well across different situations:

• Setting up (and sticking to) an automatic debit into a savings or investment account
• Cancelling an unused debit order or subscription
• Having one difficult financial conversation with a partner or family member
• Meeting with your planner to review or refresh your goals
• Downloading and using a budgeting app for one full month
• Committing to a hobby that brings in a small extra income and a whole ton of joy

The win doesn’t need to be big. It just needs to feel real and reinforce that you’re moving.

Choose one area of your finances that feels stuck and define a small, clear win that you could realistically achieve in the next 2–4 weeks. Then… celebrate it when it happens! Not with champagne necessarily, but by creating space to acknowledge it.

This is how long-term planning becomes part of everyday life. Not through pressure, but through progress.

If you’re feeling stuck in the big picture, maybe it’s time to zoom in. Let’s work together to create a few short-term wins that energise your long-term vision.

Because sometimes, the fastest way forward isn’t by setting a bigger goal, it’s by completing a smaller one today.

Want a better life? Be boring…

Why?? Well, it can be argued that consistent, simple choices often lead to the most extraordinary outcomes!

Here’s the thing: We don’t often celebrate the word “boring.”

In a world that glorifies bold reinventions, dramatic success stories, and overnight transformations, being boring doesn’t exactly spark applause.

But when it comes to your financial life — and, honestly, your overall wellbeing — being boring in the right ways is one of the most underrated life hacks available.

Especially because so few people are willing to do it.

There’s a quiet confidence in choosing what works and sticking with it. A long-term investment strategy. Monthly contributions that feel unexciting but build serious momentum over time. Spending less than you earn. Keeping a budget. Updating your will. Insuring what matters.

None of it is sexy. All of it is powerful.

Here’s the truth: most people don’t fail because they don’t know what to do. They fail because they don’t want to do the boring bits. It’s easy to chase shiny new ideas, get swept up in market hype, or try to hack the system with a clever shortcut. Even intelligent people — especially those drawn to complexity — often overlook the simple disciplines that make the biggest difference.

Being boring means showing up with consistency, not drama.

It means building the life you want slowly, steadily, with the kind of decisions that don’t give you instant gratification but do give you freedom, clarity, and confidence over time.

Here are a few examples of what “boring” might look like:

• Saying no to a flashy investment that promises unrealistic returns — and yes to a diversified, goal-aligned portfolio.
• Choosing to pay off debt methodically instead of jumping between “quick fixes.”
• Scheduling annual reviews of your estate plan and medical cover, even when nothing feels urgent.
• Automating your savings, so progress doesn’t depend on mood or memory.
• Declining to upgrade your car or home every time interest rates drop — because you’ve defined what “enough” means to you.

Of course, being boring doesn’t mean being dull. In fact, quite the opposite.

When your money systems are solid, your risks are managed, and your goals are clear — you create space for a much more interesting life. You’re not lying awake at night wondering if you’ll be okay. You’re not living from one financial drama to the next. You have margin. You have options.

You have peace of mind.

If you want a better life, be boring in the places that matter, so you can be brilliant in the moments that mean the most.

Because boring isn’t about settling. It’s about focusing your energy where it counts.