Paul Heys released an everyman’s guide to behavioral finance

Paul Heys, the financial education & investment-literacy advocate, recently released his everyman’s guide to behavioral finance, Spending Your Way to Wealth: Setting Your Compass Course to Steer in the Direction of True Wealth.

San Francisco, United States – June 29, 2020 /PressCable/ —

Paul Heys, the financial education & investment-literacy advocate who first coined the term “investorship” in 1999, recently released his everyman’s guide to behavioral finance, Spending Your Way to Wealth: Setting Your Compass Course to Steer in the Direction of True Wealth. Heys believes that anyone, regardless of income or level of affluence, can benefit from making incremental changes to improve their spending habits. Using a combination of psychology and financial expertise, Heys demonstrates how even the smallest choices can have a lasting impact on wealth and personal happiness.

Heys’ work is a unique and often humorous philosophy of wealths (plural) and spending behavior. His simple, practical approach is accessible to all and will resonate with readers from any background. It begins with the notion that wealth means far more than money. Non-financial wealth—friendship, family, and personal fulfilment—is important. So too is the need to assure such non-financial wealths in the future by adjusting our financial allocations in the present, by pausing, reflecting, and making different allocation choices.

This work is not your typical save-everything-you-can book or a game-the-system book. Nor is it a book on psychology, per se. Rather, it is a refreshingly simple look at what it means to be normal, and how normal people can change their own financial destiny.

Based on the principles of Nobel laureate Daniel Kahneman (Thinking, Fast and Slow), Heys utilizes a ground-up approach to show how anyone can take control of their financial lives through conscious reflection and awareness of our self-sabotaging biases. Most importantly, Spending Your Way to Wealth emphasizes that moderation is essential for maintaining balance between overspending and financial starvation.

The book helps readers recognize biases and harmful practices by unpacking the psychology of wants, needs, and gratification. For example, a used car might not convey the same social status as a new one but investing the $10,000 difference in an index fund based on the S&P 500 would allow that amount to increase exponentially—as opposed to the declining value of a car. Overcoming the psychological need to posture or secure instant gratification can pay literal dividends down the line. With the author’s online calculator (https://investorship.com/calculator), readers can project the potential future value of making a lifestyle adjustment, such as reducing two lattes a day down to one.

Heys’ guide is based on four key truths, beginning with the fact that human beings often default to making impulsive decisions based on personal biases instead of reflecting on the problem at hand. Spending Your Way to Wealth emphasizes that we often spend money on things that have no future financial value, instead of recognizing the probability of achieving future financial growth by abstaining from overindulgence. Heys points out that scientific evidence demonstrates that financially-corrosive habits can be achanged through patient practice.

Reviewers describe Heys’ work as “wise” and “a groundbreaking exploration of behavioral finance.” Professors from academic institutions across the country praise Heys’ ability to apply Kahneman’s principles to wealth management with such a new, refreshing perspective.

Paul Heys is a retired financial advisor, author, and speaker with a passion for helping people responsibly manage their wealth without compromising on quality of life. His work can be found online at https://investorship.com/.

Spending Your Way to Wealth is available for purchase online at Amazon.com, Barnes & Noble, etc.) and at your favourite book store.

Contact Info:
Name: Charlotte Simmons
Email: Send Email
Organization: Dabb Media
Address: 338 Bryant St, San Francisco, CA 94107, United States
Phone: +1-415-212-8011
Website: https://dabb.media

Source: PressCable

Release ID: 88965461