Understanding our money behaviour: Catastrophising

Catastrophising has two parts: Predicting a negative outcome., and then jumping to the conclusion that if the negative outcome did in fact happen, it would be a catastrophe.. "I’m behind in all my bills. Things will never get any better. I need to look into bankruptcy.”

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Jenny Rolfe
Understanding our money behaviour: Discounting the positive

The persistent tendency to transform neutral or even positive experiences into negative ones. "I’m doing okay with the house repayments, but I haven’t got enough in my retirement savings, I’m so far behind and I’ll never catch up."

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Understanding our money behaviour: All or nothing

The problem with all or nothing thinking is that it can disrupt any attempts to change your behaviour and habits. For example, if you want to create and stick to a budget there’s a good chance that even one slip up will derail all of your efforts.. All-or-nothing thinking will have you believe that you’ve totally failed, and that you might as well throw the budget out the window.

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