The logical part of your brain is so much smaller than the emotional side that it’s like “a circus performer riding an elephant.” To make smart decisions about your finances, you need the logical side to dominate. But once you get tweaked by greed or fear, that elephantine emotional brain is likely to run amok.
That’s why otherwise intelligent people chase get-rich fantasies. Or cling to stocks that are long past their expiration dates. Or find other ways to let fear and superstition keep them from smarter financial moves. Here is a list from cbsnews.com of nine common, emotionally driven money mistakes — plus some tricks from experts for getting that elephant in line.