Personal finance is a popular topic, as managing, investing, and budgeting money is an imperative part of life. However, just how you should do that depends entirely on who you ask. And there is certainly no shortage of experts, talking heads, and influencers ready to give their opinion.
There is a large rift between financial advice given by the authors of popular financial books and economists within academia. According to a new study by Yale financial economist James Choi titled, “Popular Personal Financial Advice versus the Professors,” everything is not quite what it seems. Choi explores the advice given in 50 of the most popular personal finance books to see how their financial wisdom measured up with more traditional economic thinking.
