investing

5 behaviors shackle investment strategy

Financial paralysis
Next
5 of 6
Back
Financial paralysis

Kim McGrigg, spokeswoman for Money Management International, a credit counseling firm in Sugar Land, Texas, says the sheer volume of financial information available today can make decision-making seem overwhelming. According to the book, "Paradox of Choice" by Barry Schwartz, Americans are often so overwhelmed by choices that many become paralyzed when making decisions and conclude the best decision is to not make one at all.

"The irony is that not making a decision can have consequences, too. Ideally, you want your money to work for you, and it can't do that if you don't tell it what to do," McGrigg says.

"Consumers shouldn't allow the volume of complex financial news that they are bombarded with on a daily basis to overwhelm them. They should stay focused on what is most important to them," McGrigg says.

While we have more choices, and the choices are more complex, the basic rules still apply. "Paying your bills on time and investing for your financial future are always smart financial decisions," she says.


 

 

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
CD & INVESTING NEWSLETTER

Learn the latest trends that will help grow your portfolio, plus tips on investing strategies. Delivered weekly.

CDs and Investment

Mom earns little from savings

Dear Senior Living Adviser, My mom lives on her Social Security income just fine but has around $100,000 sitting in a savings account! She does not want to take any risk. Any ideas? -- Deb Depositor Dear Deb, It's great... Read more

advertisement

Blog

Sheyna Steiner

Get organized to get finances straight

Research has found that clutter increases stress. Get organized inside and out to get your financial picture straight.  ... Read more

Partner Center
advertisement

Connect with us