How Unpredictability Makes You Terrible with Money

Coronavirus is one heck of a ride. There’s no certainty around timeframes, the virus itself, or our lives in general. Lockdown, no lockdown, more lockdown, travel bubbles, lockdown number 19,498,003, and we all go a bit nuts. The uncertainty of Corona, and other similar situations, do funny things to your brain.

Uncertainty is exhausting and it wears you down over time. There’s only so much your brain can process at any given time, and something like Corona just pushes it too far. We’re thinking about our immediate situation, our kids, and that takes up our time, energy, and attention. This means that long term planning and thinking go out the window. It’s difficult to think about retirement in 30 years when we think the sky is falling next week.

Saving, and making good financial decisions, needs a visionary long term view. And unpredictability is a threat to that, making our goals and thoughts short term.

How can you stop yourself from poor financial choices?