If financial planning were just about logic, calculators would replace conversations. But as we all know, that’s not how life works.

Your relationship with money isn’t built solely on maths; it’s built on meaning. And meaning is shaped by how we see the world, how we were raised, the communities we belong to, and what we believe makes us “good” or “successful” or “safe.”

So let’s pack those calculators away for just a second.

This second blog in our series on bias looks at how identity-based and emotion-driven patterns can subtly (or not-so-subtly) shape financial decisions — even when they conflict with our goals!

Let’s explore a few examples:

Conservative / liberal bias

We’re not talking political parties, but rather the emotional undercurrents that shape how we define fairness, authority, liberty, or security.

Some people gravitate towards fairness and nurturing, wanting to provide, protect, and support. Others lean towards loyalty, structure, or personal freedom. These instincts affect how we approach money.

Are you more likely to help others first, or protect your independence? Do you seek consensus or prefer taking bold solo action? A financial plan that ignores these drivers might look great on paper, but won’t feel sustainable in practice.

Certainty / closure bias

Our brains hate not knowing. In fact, we’ll often grab onto the first answer that makes us feel safe — even if it’s not the best answer.

You see this in how some people rush to sell investments when markets dip, or how they hold onto outdated plans because at least “something” is in place. But reaching for closure too quickly can cost more in the long run.

The better approach? Create a plan that holds space for uncertainty. One that’s responsive, not reactive.

Comfort bias

Yes… this was mentioned in the previous blog, but it deserves repeating. Comfort bias is the emotional nudge to stay exactly where you are, even when the cost of inaction is high.

We avoid facing estate plans because they make us think about death. We delay tough conversations about money with family because they’re awkward. We procrastinate updating our cover or our will or our risk protection because “it’s not urgent today.”

A good planner helps you move gently, but firmly, through this fog. Small steps, big difference.

Catastrophe bias

We remember the big scary stories: job losses, market crashes, that one time a friend lost everything. But we forget the quiet, consistent wins, the savings that grew over time, the insurance that protected a loved one, the plan that kept a family steady during chaos.

It’s not that catastrophes don’t matter. But they’re not the whole story. Financial resilience is about zooming out, not just reacting to what made headlines last week.

Contact bias

If we’ve never truly listened to someone different from us — a different culture, class, gender, or generation — our assumptions often go unchecked.

This shows up in how we approach generational wealth, gifting, shared expenses, and even who we ask for financial advice. Sustained contact with “the other”, or simply hearing different perspectives, helps broaden our sense of what’s possible.

It helps us think better, together.

In the next and final blog of this series, we’ll explore the subtle biases that affect our sense of time, status, and self-worth. Because often, what feels like a “money issue” is really a mindset moment waiting to be reframed.