Watching too Much News is Bad for Your Financial Health
We all watch too much news. Okay, maybe not all of us, but definitely most of us. It is pretty telling when I can tell how much a client reads news headlines based on the questions they ask me in a review meeting. The more headlines are read, the more worry is expressed in the form of a question to the financial advisor.
Follow this train of thought with me:
1) News outlets make money by selling advertisements.
2) News outlets can charge more money for those advertisements if there are more views by people like you.
3) Negative headlines have a greater likelihood of drawing a click, view, or interaction, which drives customers to the news outlet.
4) Therefore, news outlets are incentivized to show you more negative headlines.
The crazy thing is that we all know this to be true. You were probably not surprised by my conclusion. Yet, we still allow our brains to consume this negative information.
Healthy financial decisions are best made by an objective, well-reasoned mind. The more negative headlines invade our minds, the less likely we are to have an objective, well-reasoned mind.
Turn off the TV.
Put your phone away.
Stop reading your emails, unless they come from Financial Planning Services.
Reset your brain to process news in a healthy manner instead of doom-scrolling through a reel of negative.
Your wallet and financial future will thank you.