Are Personal Finance Gurus Giving You Bad Advice? (Update)

个人理财大师们是否在给你提供糟糕的建议?(更新)

Freakonomics Radio

2026-01-02

1 小时 0 分钟
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One Yale economist certainly thinks so. But even if he’s right, are economists any better? We find out, in this update of a 2022 episode.   SOURCES:James Choi, professor of finance at the Yale School of Management.Morgan Housel, personal finance author and partner at the Collaborative Fund.  RESOURCES:The Art of Spending Money: Simple Choices for a Richer Life, by Morgan Housel (2025).“Popular Personal Financial Advice versus the Professors,” by James J. Choi (Journal of Economic Perspectives, 2022).“Media Persuasion and Consumption: Evidence from the Dave Ramsey Show,” by Felix Chopra (SSRN, 2021).The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness, by Morgan Housel (2020).“In Bogle Family, It’s Either Passive or Aggressive,” by Liam Pleven (Wall Street Journal, 2013).  EXTRAS: “Harold Pollack on Why Managing Your Money Is as Easy as Taking Out the Garbage,” by People I (Mostly) Admire (2021).“People Aren’t Dumb. The World Is Hard,” by Freakonomics Radio (2018).“Everything You Always Wanted to Know About Money (But Were Afraid to Ask),” by Freakonomics Radio (2017).“The Stupidest Thing You Can Do With Your Money,” by Freakonomics Radio (2017). Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
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  • Hey there, it's Stephen Dovner.

  • Happy New Year.

  • If you're the kind of person who makes a New Year's resolution,

  • there's a good chance that resolution has to do with your personal finances.

  • This has always struck me as a bit odd

  • since there is no shortage of people out there who give financial advice.

  • So maybe that advice just isn't working.

  • That is a question we set out to explore in 2022 in an episode called Our Personal Finance Guru's Giving You Bad Advice.

  • We thought it might be a good idea to play it again now.

  • We have updated facts and figures as necessary.

  • I hope it helps.

  • As always, thanks for listening.

  • I've got a question for you today, a personal question.

  • It's about something you may not be so comfortable talking about.

  • Let me give a little background first.

  • Years ago, I was writing a book about the psychology of money.

  • I was going to call it, money makes me happy, except when it doesn't.

  • But I ended up putting that book in a drawer when I met Steve Levitt,

  • an economist at the University of Chicago, and instead we wrote Freakonomics.

  • And that's turned out pretty well, but the money curiosity never left me.