{"id":163,"date":"2016-04-14T11:00:13","date_gmt":"2016-04-14T11:00:13","guid":{"rendered":"http:\/\/blog.kuvera.in\/?p=163"},"modified":"2019-06-10T09:41:10","modified_gmt":"2019-06-10T09:41:10","slug":"017-avoid-these-two-biases-to-increase-your-savings","status":"publish","type":"post","link":"https:\/\/kuvera.in\/blog\/017-avoid-these-two-biases-to-increase-your-savings\/","title":{"rendered":"Avoid these two biases to increase your savings"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_40 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" area-label=\"ez-toc-toggle-icon-1\"><label for=\"item-69d8525677205\" aria-label=\"Table of Content\"><span style=\"display: flex;align-items: center;width: 35px;height: 30px;justify-content: center;direction:ltr;\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/label><input  type=\"checkbox\" id=\"item-69d8525677205\"><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/kuvera.in\/blog\/017-avoid-these-two-biases-to-increase-your-savings\/#Present_Bias\" title=\"Present Bias:\">Present Bias:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/kuvera.in\/blog\/017-avoid-these-two-biases-to-increase-your-savings\/#Exponential_Growth_Bias\" title=\"Exponential Growth Bias:\">Exponential Growth Bias:<\/a><\/li><\/ul><\/nav><\/div>\n<h4><span class=\"ez-toc-section\" id=\"Present_Bias\"><\/span>Present Bias:<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>55% of us are prone to Present Bias and it affects our retirement portfolio. Present Bias is a tendency to put off decisions that are likely to benefit us in the long run, but which involve short-term costs. People prone to present bias have on average 19% less in savings than those who are not affected by it.<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Exponential_Growth_Bias\"><\/span>Exponential Growth Bias:<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>70% of us are prone to Exponential Growth Bias i.e 70% of us don&#8217;t really understand <a href=\"http:\/\/blog.kuvera.in\/012-the-power-of-compounding\/\" target=\"_blank\" rel=\"noopener noreferrer\">how compounding works<\/a> and how it can help us grow wealth over decades of savings. Those who have a good grasp of the power of compounding have 20% more money saved than those who don&#8217;t understand it too well.<\/p>\n<p>A <a href=\"http:\/\/blog.kuvera.in\/001-start-investing-today-a-ka-the-power-of-compounding\/\" target=\"_blank\" rel=\"noopener noreferrer\">Systematic Investment Plan (SIP) <\/a>is an easy way to beat both the biases by committing to monthly investments.<\/p>\n<p>&nbsp;<\/p>\n<p>Visit <a href=\"http:\/\/www.kuvera.in\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">www.kuvera.in<\/a> to invest in &#8220;Direct Plans&#8221; of Mutual Funds and save BIG on commissions!!!<\/p>\n<p>If you like this post, share the love below..<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Present Bias: 55% of us are prone to Present Bias and it affects our retirement portfolio. Present Bias is a tendency to put off decisions that are likely to benefit us in the long run, but which involve short-term costs. People prone to present bias have on average 19% less in savings than those who [&#8230;]<\/p>\n<p><a class=\"btn btn-secondary understrap-read-more-link\" href=\"https:\/\/kuvera.in\/blog\/017-avoid-these-two-biases-to-increase-your-savings\/\">Read More&#8230;<\/a><\/p>\n","protected":false},"author":2,"featured_media":842,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false},"categories":[91],"tags":[35,32,24,34,31,17,33],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Avoid these two biases to increase your savings - Kuvera<\/title>\n<meta name=\"description\" content=\"A Systematic Investment Plan (SIP) is an easy way to beat both the biases by committing to monthly investments.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/kuvera.in\/blog\/017-avoid-these-two-biases-to-increase-your-savings\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Avoid these two biases to increase your savings - Kuvera\" \/>\n<meta property=\"og:description\" content=\"A Systematic Investment Plan (SIP) is an easy way to beat both the biases by committing to monthly investments.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/kuvera.in\/blog\/017-avoid-these-two-biases-to-increase-your-savings\/\" \/>\n<meta property=\"og:site_name\" content=\"Kuvera\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/kuvera.in\" \/>\n<meta property=\"article:published_time\" content=\"2016-04-14T11:00:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-06-10T09:41:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2016\/04\/Screen-Shot-2017-05-18-at-8.13.24-AM.png\" \/>\n\t<meta property=\"og:image:width\" content=\"725\" \/>\n\t<meta property=\"og:image:height\" content=\"384\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Gaurav Rastogi\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Kuvera_In\" \/>\n<meta name=\"twitter:site\" content=\"@Kuvera_In\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Gaurav Rastogi\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Avoid these two biases to increase your savings - 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