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![]() ![]() We often overvalue things simply because we already own them. ![]() Also called the endowment effect, it refers to our tendency to evaluate one metric with reference to another, even if the comparison is fl awed. This bias occurs when you compare the value of an investment to its cost. If you picked B, you have an Anchoring Bias So, you…Ī.Reassess the stock as if it were a fresh investment.ī.Hold on to it until it gets back to at least its original price. Q.You buy a stock, but its price drops 25% following dismal earnings in the next quarter. So, here are eight questions that will help you understand if you have any biases and what you can do to avoid them. It can help lower the risks and improve our financial well-being in the long run. Understanding our biases can help us overcome these issues and turn us into better investors and savers. Instead of being rational about our money, we are swayed by emotions and impulses, which prevent us from arriving at objective decisions. These behavioural biases often come to the fore when we take financial decisions. Most of these prejudices are subconsious and often cloud our judgement, whether it is about the career we want, the person we want to marry, or how we should spend and invest our money. Seems impressive, doesn’t it? If, however, you factor in the possibility that the same 10 results fit thousands of people, you may have a better understanding of the psychological pitfall of biases.Īll of us invariably have personality quirks, preferences and perceptions about ourselves. If it isn’t, you simply take the test again, and the second time, you get it right. Surprisingly, you always find the answer to be 80-100% correct. ![]() Those who've dealt with such programs before will have an easy time learning the mechanics, but if this is your first experience and have problems getting around the process, the provided online documentation will guide you on your first steps.Have you ever taken one of those personality quizzes on the Internet? The ones where you answer a handful of questions to identify the kind of person you are. In short, Perfect Diet Tracker is indeed a simple tracker, not a manual on how to lose weight. ![]() Read their labels and nutritional values, and add them accordingly, then use the app to plan your daily intake and keep an eye on your diet. Still, the app won't offer you these values, instead, you'll have to manually create a database with whatever products you're consuming. Consumed calories, carbohydrates, protein, fat, and even alcohol are easily trackable with Perfect Diet Tracker. Managing the nutritional aspectsĪs this tool is intended to be a diet helper, foods and nutritional values are the main points of attention. However, the BMI is not always accurate, as it mainly focuses on height and weight, but if you are hitting the gym on a daily basis and have a great deal of muscle mass, you'll still be categorized as overweight. Jot down the name, gender, age, preferred weight units (both imperial and metric systems are supported), height, and weight, The last two will generate your current BMI (body mass index), putting you in a category such as underweight, normal weight, overweight or obese. Running the app for the first time will guide you through building your profile. Perfect Diet Tracker is a handy tool designed for individuals who want to lose weight by carefully tracking and calculating their daily calorie intake. When it comes to losing weight, physical effort is still king, but the second-best option is getting on a diet, which seems easier than sports, but it’s actually not. Over-saturated foods and the lack of movement or sports are the main causes of accumulating more fat than the body usually needs. Excessive weight is a problem many of us face nowadays. ![]()
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