This is hidden brain.
I'm Shankar Vedantam.
Around the world, when you ask people what keeps them awake at night, they'll invariably tell you money problems.
Our challenges with money are varied, but we generally tend to have a fixed way of thinking about them.
Most of us point to external factors as the root cause of our money problems.
We've had an eight day losing streak in the dow that in percentage terms puts it on par close to that percentage loss those two days in 1929.
This could be the most serious recession in decades.
Every American is feeling the bite of inflation.
Groceries cost more.
Gas costs more.
Everything seems to cost more.
It's certainly true that a recession or an unexpected medical expense can send our finances into a tailspin.
But it's also the case that psychological factors within us can play a powerful role in determining our financial successes and failures.
All I know is I have these beliefs around money that are banging around in my subconscious.
And in our studies, we have found that these beliefs, most of us aren't even really aware of them.
They have a profound impact on our financial outcomes.
Today, we begin a new series called money 2.0.
Over the next few weeks, well explore how money shapes our behavior in profound and subtle ways.
Well consider how money influenced the rise of civilizations and why we're drawn to focus on people who are richer than us.
We'll also look at the common psychological traps that lead to money difficulties and how we can chart a path to solid financial footing.