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How Friction Helps Your Finances with Soon Yu - 147
Manage episode 436490341 series 3520760
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In this episode, I chat with Soon Yu about the surprising benefits of friction in managing our finances. We dive into how intentional friction, like saving habits and security measures such as double verification, can enhance our financial health by promoting discipline and protecting against fraud. Soon also points out the downsides of automation, like unmonitored spending, and the importance of keeping some manual processes to stay aware of our expenses.
We also discuss how friction in financial systems, like the concept of scarcity and complex tax codes, supports economic stability. Soon explains how brands like Apple use friction to create memorable customer experiences and how accreditation requirements ensure our financial advisors are trustworthy. Tune in to discover how a bit of friction can positively impact your financial well-being.
The Money Talking points for today’s episode are:
- What point of friction would I like to add to my life?
- What areas are so seamless it’s harmful?
Find Soon Yu online at soonyu.com
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"Upbeat Forever" Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0http://creativecommons.org/licenses/by/3.0/
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"Upbeat Forever" Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0 http://creativecommons.org/licenses/by/3.0/
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