One economist's take on popular advice for saving, borrowing, and spending
23 November 2022·33 min
This episode was first released as a bonus episode for Planet Money+ listeners last month. We're sharing it today for all listeners. To hear more episodes like…
One economist's take on popular advice for saving, borrowing, and spending
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This episode was first released as a bonus episode for Planet Money+ listeners last month. We're sharing it today for all listeners. To hear more episodes like this one and support NPR in the process, sign up for Planet Money+ at plus.npr.org.
Planet Money+ supporters: we'll have a fresh bonus episode for you next week!
"Save aggressively for retirement when you're young." "The stock market is a sure-fire long-term bet." "Fixed-rate mortgages are better than adjustable-rate mortgages." Popular financial advice like this appears in all kinds of books by financial thinkfluencers. But how does that advice stack up against more traditional economic thinking?
That's the question Yale economist James Choi set out to answer in a paper called Popular Personal Financial Advice Versus The Professors. In this interview, he tells Greg Rosalsky what he found. Their talk marks another edition of Behind The Newsletter, in which Greg shares conversations with policy makers and economists who appear in the Planet Money newsletter.
Subscribe to the newsletter at https://www.npr.org/newsletter/money.
Read more about James Choi's paper here: https://www.npr.org/sections/money/2022/09/06/1120583353/money-management-budgeting-tips
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See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences.
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Planet Money+ supporters: we'll have a fresh bonus episode for you next week!
"Save aggressively for retirement when you're young." "The stock market is a sure-fire long-term bet." "Fixed-rate mortgages are better than adjustable-rate mortgages." Popular financial advice like this appears in all kinds of books by financial thinkfluencers. But how does that advice stack up against more traditional economic thinking?
That's the question Yale economist James Choi set out to answer in a paper called Popular Personal Financial Advice Versus The Professors. In this interview, he tells Greg Rosalsky what he found. Their talk marks another edition of Behind The Newsletter, in which Greg shares conversations with policy makers and economists who appear in the Planet Money newsletter.
Subscribe to the newsletter at https://www.npr.org/newsletter/money.
Read more about James Choi's paper here: https://www.npr.org/sections/money/2022/09/06/1120583353/money-management-budgeting-tips
To manage podcast ad preferences, review the links below:
See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences.
NPR Privacy Policy
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