MPT premieres documentary about spending, saving habits

Posted: Friday, September 26, 2014 12:21 pm

MPT premieres documentary about spending, saving habits

ANNAPOLIS — Why do most Americans struggle with overspending, instead of saving their money for the future?

The U.S. is heading into a retirement crisis, led by debt-ridden Baby Boomers whose diminishing savings will not match their increasing longevity. Thinking Money: The Psychology Behind Our Best and Worst Financial Decisions, a one-hour documentary airing on MPT-HD at 9 p.m. Wednesday, Oct. 1, addresses these issues and explores how our society thinks about money.

Can we re-wire our brains to make smarter financial decisions? Host David Coyne travels the country to find the answer and introduces us to many of the original thinkers who blend economics with psychology.

Using a mix of humor, on-the-street interviews, and provocative insights from behavioral economists, Thinking Money explores the reasoning behind our spending and saving habits and gives us practical takeaways to make smarter financial choices.

The documentary not only illuminates the way our brains work but offers real solutions to get us on the path to financial security, according to a news release from MPT.

Thinking Money addresses an array of challenging ideas that have profound implications for our financial behavior, including: how Americans’ increasing financial fragility has led to an explosion of downmarket and even predatory sources of credit; how having a good nudge — especially one with an unpleasant consequence attached to it — can help people achieve their financial goals; and the ways in which confirmation bias, the tendency for us to search for evidence that confirms what we already believe and disregard evidence that doesn’t, impacts our financial decisions, according to the release.

Thinking Money airs a second time at 3 a.m. Thursday, Oct. 2, and again at 11 p.m. Friday, Oct. 3. It will also air on MPT2 at 7 p.m. Saturday, Oct. 4. Thinking Money is produced by Rocket Media Group in association with FINRA Investor Education Foundation and Maryland Public Television.

Follow Business Editor Bob Zimberoff on Twitter @stardem_biz

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Friday, September 26, 2014 12:21 pm.

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