When it comes to big decisions in life, who do you turn to for advice? The logical answer would be an expert, but according to new research from OnePoll, we turn to our friends! Now, take a moment and think about your friends. Research shows that we are 1 1/2 times more likely to listen to them! 50% listened to friends about money issues.
Why? Why would we take the advice of friends or family over an expert in the field? According to Associate Professor, Dr Briony Pulford, “People have a “simplicity bias” – preferring a simple narrative rather than one that has more complexity, even if the complex one is more accurate, realistic, and balanced.’
Amazingly, 70% claim they have never received bad advice from a friend or relative.
I think I need to get some new friends!
— Doug O’Brien
