#415: The average American donates 2.1 percent of their income to charity, according to data from the Giving Institute. But an ordinary couple living in Nashville, Bob and Linda Lotich, refuse to be average. When they were both 31, they decided to “give their age” – they pledged to donate 31 percent of their income to worthwhile causes. They’ve increased their charitable giving every year since, to match their age. The couple is now 41 years old, and they give away 41 percent of their income. When they began this project, the Lotich’s were earning a combined household income in the high five-figures. They were making just under $100,000 combined, living in St. Louis. They carried a mortgage on their home. They worried that their commitment to giving might impact their ability to pay the bills. Over the last decade, their income has fluctuated – up some years, down in others. They moved to Nashville and had three children. These higher living costs have drastically impacted the family budget. But their commitment to giving persists. In today’s episode, Bob Lotich joins us to talk about why and how he committed to the “give your age” philosophy – and shares his advice for anyone who wants practical tips for increasing their capacity to donate to meaningful causes. Enjoy! Timing of discussion points as of November 2022: 04:46: Adjusting mental and budget space to allow for more charitable donations 13:12: The decision give to individuals vs. charitable organizations 14:57: Does giving to an individual impact the relationship? 16:56: Recommendations for platforms with giving opportunities 25:01: Managing the giving budget after starting a family 25:56: Guilt and shame around generosity 27:41: Giving from a place of gratitude and a place of pain 28:47: The concept of giving dreams 30:19: Building for a continuous impact vs. a large impact 31:48: Getting the children involved 37:48: How to increase your charitable giving For more information, visit the show notes at https://affordanything.com/episode415 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#413: If an idea dominates the headlines, we notice it. But maybe we shouldn’t. Today’s guest, psychologist and behavioral finance expert Dr. Daniel Crosby, says there’s a difference between a prediction that gets repeated, and one that’s likely to unfold.  What’s salient isn’t accurate, he says. And vice versa.  He also talks about how money problems have morphed over time. He chats about how our evolutionary wiring is at odds with our goals. And he even discusses how we’re wired to be ‘lazy’ – and how to work with that tendency instead of fighting an uphill battle against it. Dr. Crosby researches the intersection of mind and markets. His latest work, The Behavioral Investor, is an in-depth look at how sociology, psychology and neurology impact our investment choices.  Timing of discussion points as of December 2022: 03:10: The overlap between psychology and investing + new ideas 04:41: Counterintuitive behavioral finance discoveries  07:27: Money as a “hygiene factor” 08:39: The “new class” of money problems for the more affluent 13:44: Factors that impact our financial decisions 15:22: The influence of evolutionary wiring  17:02: Cognitive and physical wiring leading to laziness and group think 27:45: The benefit of community for investors 28:52: The four types of behavioral risk: ego, conservatism, attention, and emotion 36:21: The three E’s of behavior change: education, environment, encouragement 42:30:  Confusing things that are loud with things that are likely 45:21: The risk of managing emotion For more information, visit the show notes at https://affordanything.com/episode413 Learn more about your ad choices. Visit podcastchoices.com/adchoices