A false dilemma occurs when a limited number of choices, outcomes, or views are presented as the only possibilities.
Money scripts are the unconscious beliefs you have about money. Learn what yours are and how they affect your financial decisions.
No true Scotsman occurs when someone defends a generalization by redefining the criteria and dismissing examples that are contradictory.
The world is very complicated. We are constantly presented with new information - every minute of every day - and we have to subconsciously
The loaded question fallacy is a question containing an implicit assumption - that is unverified or controversial.
Circular reasoning is a logical fallacy in which a person attempts to prove something using circular logic.
Whether you are budgeting or investing, you are grappling with several psychological factors affecting your financial decisions.
Sunk cost fallacy is a cognitive bias that causes people to include non-recoverable past costs in their decision-making process.
Anchoring is a cognitive bias that describes the human tendency to overly rely on the first piece of information we find or is offered to us.
Loss aversion is a cognitive bias, or a systematic pattern of thinking, that refers to our natural inclination to focus on setbacks more than progress.
The Dunning-Kruger effect is a bias whereby people with low ability in a certain area tend to overestimate their capability in that area.
Even though both fallacies and biases are very different from each other, they are both typically concerned with the same issues - errors in reasoning.
The red herring is an attempt to divert the attention away from the relevant issue by introducing another irrelevant issue.