Personal Finance With Molly

Molly Ford-Coates
  • 3.0 (2)
  • INVESTING

What if the biggest obstacle to your financial success isn't your income — it's your mind? Personal Finance With Molly is the podcast where money, mindset, and behavior intersect. Each week, I, Molly, break down the psychology behind your financial decisions, helping you understand why you spend, save, and invest the way you do — and how to make smarter choices starting today. From unpacking cognitive biases that quietly drain your wallet to exploring the emotional patterns behind debt and wealth-building, this show turns behavioral finance research into real, actionable guidance for everyday people. Whether you're just starting your financial journey or looking to break habits that have held you back for years, Personal Finance With Molly gives you the tools to rewire your relationship with money — one episode at a time. Subscribe, and start thinking differently about your finances.

  1. 2D AGO

    Your Parents Called — They Want Their Money Trauma Back: How Your Childhood Is Still Running Your Wallet

    Send us Fan Mail Episode Summary: Ever wonder why you hide shopping bags before your partner gets home, panic at a zero balance even when you're financially fine, or feel guilty every time you spend money on yourself? Surprise — you probably learned that from the dinner table, not from your bank. In this episode, we dive deep into the behavioral finance concept of Money Scripts — those sneaky, hardwired beliefs about money that were formed before you could even drive — and explore how they're quietly sabotaging your financial future right now. But don't worry. We're not here to blame your parents. We're here to fire those old beliefs and hire better ones. What You'll Learn: What Money Scripts are and where they come fromThe four major Money Script categories (and how to spot yours)Real-life ways childhood money beliefs blow up adult financial decisionsThe neuroscience behind why these scripts are so stickyPractical, actionable steps to rewrite your financial narrativeKey Concepts Mentioned: Money Scripts (Dr. Brad Klontz & Ted Klontz, Mind Over Money)Behavioral finance & financial therapyScarcity mindset vs. abundance mindsetFinancial avoidance, financial worship, money status, money vigilanceNeuroplasticity and cognitive reframingResources & References: Mind Over Money by Brad Klontz & Ted KlontzYour Money or Your Life by Vicki RobinKlontz Money Script Inventory (KMSI) — take it free onlineThe Psychology of Money by Morgan HouselAction Steps from This Episode: Take the Klontz Money Script Inventory to identify your script typeWrite your earliest money memory — then ask: whose voice is that?Identify one financial behavior you want to change and trace it back to its originTry the "Money Autobiography" journaling exerciseConsider working with a financial therapist if patterns feel deeply entrenchedConnect With Us: Leave a review if this episode hit home — it helps more people find the show!Subscribe so you never miss an episodeSupport the show

    22 min

  2. 6D AGO

    How to Make Friends With a Version of Yourself You've Never Met

    Send us Fan Mail Tagline: Your future self is out there right now, living with every financial decision you're making today. The problem? Your brain treats them like a complete stranger. Episode Summary: Why do smart, caring people consistently fail to save for retirement — even when they know they should? The answer has nothing to do with discipline, and everything to do with neuroscience. Research from UCLA shows that when people imagine their future selves, the part of their brain that activates is the same part that activates when they think about a stranger. Not themselves. A stranger. Today we unpack the psychology of your future self, why your brain is wired to abandon them, and — most importantly — what you can actually do about it. This is one of the most important episodes we've done. And it's also, we promise, a lot of fun. What You'll Learn: The UCLA brain-scan study that changed how behavioral economists think about savingWhat "temporal discounting" is and why it makes your future self's problems feel fakeWhy willpower and discipline are the wrong tools for this problemThe "Debt to a Stranger" mental model — and why reframing changes behaviorHow Hal Hershfield's future-self research is being used by major financial institutionsFour concrete, research-backed techniques to build a real relationship with your future selfWhy this is not just a retirement problem — it shows up in health, relationships, and career tooKey Concepts Covered: Temporal Discounting (Hyperbolic Discounting)Future Self ContinuityPresent BiasEmpathy Gap (Hot/Cold Empathy Gap)Identity-Based Financial PlanningPre-commitment Devices (Thaler & Benartzi's Save More Tomorrow)Research & People Referenced: Hal Hershfield, UCLA Anderson School of Management — future self continuity researchDaniel Goldstein & Hal Hershfield — aged avatar studiesRichard Thaler & Shlomo Benartzi — Save More Tomorrow (SMarT) programDaniel Kahneman — System 1 vs. System 2 thinkingGeorge Ainslie — hyperbolic discountingWalter Mischel — marshmallow test (and the nuanced follow-up research)Memorable Segments: "The Stranger in the MRI" — the brain scan study explained"A Letter From 2045" — the future self letter exercise, live"The Marshmallow Test Lied to You" — what the follow-up research actually showsThe $1 vs. $1,000 illustration of hyperbolic discounting Connect & Resources: Try the future self letter exercise and share it with usHal Hershfield's book: Your Future Self: How to Make Tomorrow Better TodaySupport the show

    22 min

  3. MAY 4

    What Lottery Winners Can Teach Us About Sudden Wealth Syndrome

    Send us Fan Mail They won millions. They lost it all. Here's what their brains were doing the whole time — and why it matters for your money too. Episode Summary: Most people think lottery winners who go broke are just reckless or dumb. They're not. They're human — and their brains are doing something remarkably predictable. In this episode, we dig into the psychology of Sudden Wealth Syndrome: what it is, why it happens, and the wild, fascinating stories that prove even a jackpot can't outrun your own mind. Spoiler: this isn't just a story about lottery winners. It's a story about all of us. What You'll Learn: What Sudden Wealth Syndrome actually is (it's a real thing, and yes, therapists treat it)The neuroscience behind why windfalls feel so different from earned incomeWhy lottery winners are 3x more likely to declare bankruptcy than the average AmericanThe "Identity Gap" — what happens when your net worth changes overnight but your psychology doesn'tThe Mental Accounting trap that drains windfalls faster than you'd thinkWhat the research actually says about money and happiness (it's more nuanced than you think)Four lessons from lottery disasters you can apply to ANY financial windfallKey Concepts Covered: Sudden Wealth Syndrome (SWS)Mental Accounting (Richard Thaler)Hedonic AdaptationReference Point Theory (Kahneman & Tversky)The Paradox of Choice as it applies to wealthLoss Aversion in the context of new wealthMemorable Stories Referenced: Jack Whittaker (Powerball, $315M) — the most cautionary tale in lottery historyEvelyn Adams (NJ Lottery, won TWICE) — and lost it all at the casinoWilliam "Bud" Post ($16.2M) — sued by his own brother, dead broke within a yearThe UK's "Lotto Lout" Michael Carroll — and what happened afterResearch & Sources: Kahneman, D. & Deaton, A. (2010). "High income improves evaluation of life but not emotional well-being." PNASKillingsworth, M. (2021). "Experienced well-being rises with income, even above $75,000 per year." PNASHankins, S., Hoekstra, M., & Skiba, P. (2011). "The Ticket to Easy Street? The Financial Consequences of Winning the Lottery." Review of Economics and StatisticsRichard Thaler's Mental Accounting research, University of ChicagoConnect & Resources: Subscribe, leave a review, share with a friend who needs thisDM us your biggest money psychology questionSupport the show

    25 min

  4. APR 30

    The Price Is Wrong: Why Inflation Feels Way Worse Than It Is (And Sometimes Way Better)

    Send us Fan Mail Episode Description: Inflation is a number. But it doesn't feel like a number — it feels like a personal attack. Why does a 4% inflation rate feel like the economy is collapsing while a 6% raise feels like barely enough? Why do we notice when gas goes up 30 cents but completely ignore when airfare quietly drops? Why does everyone seem to have a wildly different gut sense of how expensive things have gotten? In this episode, we go deep on the psychology of perceived inflation — the gap between what the CPI says and what your nervous system believes. This one will change how you read financial news, fight about money, and make spending decisions forever. What You'll Learn: Why our personal "felt inflation" is almost always higher than measured inflationThe specific cognitive biases that distort how we perceive price changesWhy losses feel bigger than equivalent gains (and what this does to price perception)How the media, social comparison, and memory all conspire to make inflation feel worsePractical frameworks for recalibrating your inflation perception and making smarter financial decisionsKey Concepts Mentioned: Loss aversion (Kahneman & Tversky)Availability heuristicSalience biasMoney illusionHedonic adaptation (in reverse — "hedonic de-adaptation")Anchoring and price memoryThe CPI methodology and its known limitationsShrinkflationResources: Thinking, Fast and Slow by Daniel KahnemanThe Deficit Myth by Stephanie Kelton (for macro context)Dollars and Sense by Dan Ariely & Jeff KreislerKahneman & Tversky (1979), "Prospect Theory: An Analysis of Decision Under Risk" — EconometricaBureau of Labor Statistics CPI explainer: bls.gov/cpiIsabella Weber's work on "sellers' inflation" and price-setting behaviorSupport the show

    22 min

  5. APR 27

    Are You Treating Future You As a Stranger? How Projection Bias Is Working In Your Finances

    Send us Fan Mail Episode Description: You bought a ski pass in January and never used it. You signed up for a meal kit service when you were very hungry. You took out a 30-year mortgage on a house you'd "definitely" live in forever. What's the common thread? Projection bias — the very human tendency to assume that whoever we are right now is basically who we'll always be. In this episode, we break down what projection bias actually is, why your brain is wired for it, and — most importantly — how to catch yourself doing it before it costs you money. What You'll Learn: What projection bias is and why it's not just "bad planning"The three financial zones where it hits hardest: big purchases, savings, and lifestyle creepThe "Future You Letter" technique and other practical hacks to outsmart your present-biased brainWhy marketers love projection bias (and use it against you constantly)Key Concepts Mentioned: Projection bias (Loewenstein, O'Donoghue & Rabin, 2003)Affective forecastingHyperbolic discountingThe "hot-cold empathy gap"Lifestyle creep / hedonic adaptationResources: Misbehaving by Richard ThalerStumbling on Happiness by Daniel GilbertThe Psychology of Money by Morgan HouselLoewenstein, O'Donoghue & Rabin (2003), "Projection Bias in Predicting Future Utility" — Quarterly Journal of EconomicsSupport the show

    19 min

  6. APR 23

    The Mental Piggy Banks in Your Head — How Mental Accounting is Secretly Running Your Finances

    Send us Fan Mail Episode Summary: Ever wonder why you'll spend a $100 gift card on something frivolous but agonize over spending $100 of your "real" money on the same thing? Or why a tax refund feels like a windfall even though it was your money all along? That's mental accounting at work — and in this episode, we break down the fascinating, sometimes maddening behavioral finance quirk that shapes nearly every financial decision you make without you even realizing it. We'll cover what it is, why your brain does it, and — crucially — how to use it for you instead of against you. What You'll Learn: What mental accounting is and where the concept comes from (shoutout to Nobel laureate Richard Thaler)The "fungibility problem" — why your brain refuses to treat all money the sameReal-life examples: windfall spending, credit card decoupling, household budget bucketsThe dark side of mental accounting (the traps!)How to hack your own mental accounts to build wealth on autopilotKey Concepts Mentioned: Mental Accounting — Richard Thaler (1985, 1999)Fungibility of moneyThe "house money" effectSunk cost fallacy as a mental accounting cousinPain of payingEnvelope budgeting / zero-based budgetingSavings "buckets" strategyProspect Theory (Kahneman & Tversky)Resources & Further Reading: Misbehaving by Richard ThalerThinking, Fast and Slow by Daniel KahnemanYour Money and Your Brain by Jason ZweigThaler's original paper: "Mental Accounting Matters" (1999) — Journal of Behavioral Decision MakingAction Steps From This Episode: Audit your mental accounts — write down the invisible buckets you're already usingAutomate your savings into named sub-accounts (most banks let you label them)Before spending a windfall, wait 48 hours and ask: "Would I spend this if it came from my paycheck?"Stop tracking "gambling money" separately — your net worth doesn't know the differenceSupport the show

    22 min

  7. APR 20

    Why Your Brain Is Terrible With Money (And What To Do About It): An Intro to Behavioral Finance

    Send us Fan Mail Episode Summary: You've read the personal finance books. You know you should save more, spend less, and invest consistently. So why don't you? The answer isn't willpower — it's your brain. In this episode, we're breaking down behavioral finance: what it is, where it came from, why it matters, and how understanding it can literally change the way you handle money forever. Buckle up, because this one is a game-changer. What You'll Learn: What behavioral finance actually is (in plain English, no PhD required)Why traditional economics got humans completely wrongThe two "brain systems" that control every financial decision you makeThe biggest behavioral biases that are costing you money right nowHow to use behavioral finance in your favor to build better money habitsKey Terms Mentioned: Behavioral FinanceTraditional/Neoclassical EconomicsThe "Rational Actor" (homo economicus)System 1 vs. System 2 Thinking (Daniel Kahneman)Loss AversionMental AccountingPresent BiasHerd MentalityAnchoring BiasProspect TheoryPeople Mentioned: Daniel Kahneman — Nobel Prize-winning psychologist, author of Thinking, Fast and SlowAmos Tversky — psychologist and Kahneman's research partnerRichard Thaler — Nobel Prize-winning economist, author of NudgeBooks Mentioned: Thinking, Fast and Slow — Daniel KahnemanNudge — Richard Thaler & Cass SunsteinMisbehaving — Richard ThalerAction Step This Week: Think about one financial decision you've been avoiding or one habit you keep failing to build. Write down why you think you keep struggling with it. Now ask: is it a knowledge problem or a behavior problem? Chances are, it's behavior. That's your homework. Connect & Subscribe: If this episode made your brain light up, share it with one person in your life who needs to hear it. Leave a review — it helps more than you know! Support the show

    23 min

  8. APR 16

    You're Not Broke — You're Wired Wrong: The Hidden Psychology Behind Cost vs. Worth

    Send us Fan Mail Episode Summary: Why do you drop $7 on a coffee without blinking, but agonize for three days over a $40 online course? Why does a $500 suit feel like a bargain at the outlet mall, but a $500 coaching session feels extravagant? The answer has nothing to do with math — and everything to do with your brain. In this episode, we unpack the behavioral finance science behind how we perceive cost versus worth, the cognitive biases that hijack our spending decisions, and practical frameworks to start making choices your future self will actually thank you for. What You'll Learn: Why "cost" and "worth" are not the same thing — and why your brain treats them like they areThe anchoring effect and how retailers use it to scramble your sense of valueMental accounting: why you spend a tax refund differently than your paycheckLoss aversion and why the pain of paying often has nothing to do with the actual priceThe IKEA Effect, sunk cost fallacy, and the hidden emotional taxes we put on our moneyA 3-question "Worth Framework" to make smarter, calmer spending decisionsKey Concepts Mentioned: Anchoring Bias (Tversky & Kahneman)Mental Accounting (Richard Thaler)Loss Aversion (Prospect Theory)The Pain of Paying (Drazen Prelec & Duncan Simester)Sunk Cost FallacyThe IKEA EffectOpportunity Cost NeglectHedonic AdaptationRecommended Resources: Thinking, Fast and Slow — Daniel KahnemanMisbehaving — Richard ThalerDollars and Sense — Dan Ariely & Jeff KreislerThe Psychology of Money — Morgan HouselThe Worth Framework (3 Questions): Would I pay this price if I didn't know the original price?What would I have to give up to afford this — and is that trade worth it?One year from now, will this have compounded in value or evaporated?Support the show

    26 min
See All (59)

Ratings & Reviews

3
out of 5
2 Ratings

About

What if the biggest obstacle to your financial success isn't your income — it's your mind? Personal Finance With Molly is the podcast where money, mindset, and behavior intersect. Each week, I, Molly, break down the psychology behind your financial decisions, helping you understand why you spend, save, and invest the way you do — and how to make smarter choices starting today. From unpacking cognitive biases that quietly drain your wallet to exploring the emotional patterns behind debt and wealth-building, this show turns behavioral finance research into real, actionable guidance for everyday people. Whether you're just starting your financial journey or looking to break habits that have held you back for years, Personal Finance With Molly gives you the tools to rewire your relationship with money — one episode at a time. Subscribe, and start thinking differently about your finances.

Information

  • Creator
    Molly Ford-Coates
  • Years Active
    2025 - 2026
  • Episodes
    59
  • Rating
    Clean
  • Copyright
    © 2026 Personal Finance With Molly
  • Show Website
    Personal Finance With Molly