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The Psychology of Money: Why We Fall for Mental Accounting Traps
12 November 2026

The Psychology of Money: Why We Fall for Mental Accounting Traps

Morning Drive

About
In this episode of the Morning Drive on Business FM, independent financial consultant James Thomas joins us to unpack the fascinating psychology behind financial behavior and mental accounting. From the traps of "buy now, pay later" and the irony of luxury purchases, to why our brains treat identical amounts of money differently, we explore how cognitive biases affect our wealth-building decisions.

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