How to Boost Your Financial Willpower: Expert Psychologist Shares His Secrets

Dr. Roy Baumeister is a research psychologist who has studied the science of self-control for many years. He's also co-author of the new book Willpower. We asked him how you can boost your willpower when facing financial temptations and decisions. Here are his secrets.

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January 17 2012 at 10:13 PM Report abuse rate up rate down Reply

The financial expert's background was too distracting. It really takes away from his image as a respected professional. It looks messy. It suggests poverty or financial struggle when that cannot be the case here. The laptop should have been positioned where his background would have been a wall or a neat living room.

September 15 2011 at 4:39 PM Report abuse rate up rate down Reply

The financial expert is talking about financial willpower but I'm completely distracted by the room in his background. Instead of videoconferencing from a laptop where the background would be a wall or a neat living room set, he spoke from this space and I'm distracted wondering, "Why can't he find a cleaner room in his house?" "Is he a hoarder?" "Is he a bachelor?" "Is he struggling financially perhaps?" ... So I replayed the video a 2nd time and just listened to the sound. My comment may seem "petty" but no one would show up in torn jeans to an interview on the Today show or any show where your expertise was being touted. It's a matter of professional image. He looks like an expert. The room didn't look like the space where an expert on either finance or psychology would live. If he were an astrophysicist, sure, there are plenty of mad scientists too busy to clean their rooms.

September 15 2011 at 4:38 PM Report abuse rate up rate down Reply

It takes way more than will power to stay on sound financial footing. If weed were legal that would help by bring the cost down to some realistic level for decent pot. As a Libertarian I want pot legal taxed and grown for maximum effect at the lowest cost.

The war on pot has cost billions, was lost decades ago and all it has done is put poor folks in jail for no good reason while destroying their lives. What America has done in that war is vile and despicable and it needs to get fixed. - just like alcohol was after prohibition.

Thsi is something that can be done immediately to help revenue colletion for fees, vice tax and income tax.

September 13 2011 at 6:03 PM Report abuse rate up rate down Reply
Darryl Ehlers

Hi Folks,
I feel sorry for the the young people, which think the money tree doesn't stop. Older people know ever is not for ever.
If young people do not try to learn to be a survior,They will drown. Young people have been coddled and don't realize the gray train can not go on for ever. Trips, credit card, and self gifts, does not put food on the table or a roof over your head. Darryl Ehlers

September 13 2011 at 11:20 AM Report abuse rate up rate down Reply
1 reply to Darryl Ehlers's comment

I don't feel sorry for young folks but wish I was as ignorant and naive as they are, They actually believed the BOBS and fell for Marxism hook line and sinker,just like he learned from his Muslim daddy. He really hurt them and they need to remember that the left hates them more than old people. Both of which were snookered into paying for Obama Care without them even knowing it. You almost have to be stupid to fall for that lefty hook, line and sinker. They should start to learn Spanish any time now and think that Obama is going to pay for that too, Don't feel sorry for them.m They have a death wish and you can't fix that.

September 13 2011 at 10:20 PM Report abuse rate up rate down Reply