The illusion of knowledge
|Ever wondered why, when trying to improve your knowledge on a particular subject, you can feel even worse off than you were before you put in the effort to learn?|
The answer may lie in a concept that two social psychologists derived from their research and is called the Dunning-Kruger effect. (No prizes for guessing the names of the psychologists).
In a nutshell, people with low knowledge can be very confident in their ability because, quite honestly, they just don’t know what they don’t know. And because they rate themselves so highly, they never bother to go out and increase their knowledge through learning or experience because you simply don’t do that if you know it all already.
When people start to learn about their chosen subject, they often begin to realise just how much they have to learn and this can cause an initial drop in their confidence levels.
Amazingly, the top-performers don’t rate themselves highly at all. They know how much they know, and by definition how little they know, and are therefore always trying to improve and learn new stuff.
Whether you pay someone to help you with your finances or are a DIY investor, having a better understanding of what matters to your end outcomes is crucial.
We have been working hard on ways to empower even the most anxious of our financially-challenged friends to conquer their fears on the way to creating a better future for themselves and their loved ones. We would love the opportunity to get in front of you, your employees, friends, family or colleagues and eliminate the anxiety which stops of from taking control of our finances.
If you want to find out more about what we will be doing, what we will be covering and when, please signal your interest by messaging us or keep an eye out on the events page on this site!