Welcome to How to Money. I'm Joel.

I'm Matt.

And today we're talking about fixing your when we say that if you follow those

straightforward steps, that it won't be long before you are sitting on millions of dollars

in retirement.

It's that simple, but that doesn't mean it is that easy.

And evidently, we are the reasons that we don't have more money or whatever it is that we want in life.

Here to talk to us today about that is behavioral scientist, Dan Egan.

Dan is the director of behavioral finance and investing over at Betterment.

And today we're going to discuss how human psychology impacts our financial decision-making.

Dan, thank you so much for taking the time to speak with Joel and I today. I'm very happy to be here, looking forward to the conversation.

We are too, Dan.

And the first question we ask everyone who comes on the show is what's your craft beer equivalent?

I like to think of that as kind of a smart behavioral thing, to have something to spend money on proactively, even though you're doing the smart thing

with your money on the flip side, investing and saving for your future. What's that for you?

What's your craft beer equivalent? So I've been doing something new a little bit lately where

with questions like this, I had my answer, and I'll tell you my answer, and then I'll tell you

my wife's answer for me. My answer was, and this is something I'm so happy about, it's like a little luxury that makes me happy at the time.

I have multiple of the same thing in different locations so that I don't have to worry about having that one thing.

So I have like six pairs of the same sunglasses and one's inside the car and the other ones in my backpack, et cetera.

It costs a bit more, you know, like it feels a little bit unfrugal because you could just have one, but I absolutely love having these extras and spares everywhere.

Very cool.

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