Have you ever noticed how a conversation with people who share your views can make you feel more strongly about what you already believe? Legal scholar Cass Sunstein captured this phenomenon perfectly when he observed, "What we know is if you get groups of like-minded people together, they tend to end up thinking a more extreme version of what they thought before they started to talk."

This observation isn't just about politics or social issues – it's particularly relevant to how we think about and plan our finances.

Think about your own financial circle for a moment. Who do you talk to about money? Your colleagues who share similar salaries and lifestyles? Friends who have the same investment approach? Family members, who passed down their money beliefs to you?

While these conversations feel comfortable, they might be creating an echo chamber that reinforces existing beliefs and biases rather than challenging them.

Consider Natalie, a successful professional who was convinced that property was the only worthwhile investment because everyone in her social circle was a property investor. It wasn't until she encountered a diverse financial planning team that she realised she'd been viewing her financial future through a narrow lens. By opening herself to different perspectives, she discovered a world of opportunities she hadn't previously considered.

The danger of financial echo chambers is that they can lead to:

• Overlooking potential opportunities
• Dismissing valid risks
• Reinforcing unhealthy money habits
• Missing out on innovative financial strategies
• Failing to adapt to changing circumstances

But here's the good news: we can break free from these echo chambers. Here's how:

Seek Out Diverse PerspectivesJust as a healthy diet requires various nutrients, a healthy financial mindset needs diverse inputs. This might mean reading different financial authors, following varied experts, or engaging with people who have different approaches to money.

Challenge Your AssumptionsWhen was the last time you questioned your fundamental beliefs about money? Maybe you believe "property always goes up" or "the stock market is too risky." Where did these beliefs come from? Are they still serving you well?

Embrace Constructive DisagreementSometimes, the most valuable financial advice comes from someone who disagrees with us. Instead of dismissing contrary views, try to understand them. What insights might they offer? Questions we can’t answer are often far healthier for us than answers we can’t question.

Work with a Financial PlannerA good financial planner doesn't just echo what you want to hear. We bring diverse expertise and perspectives, challenging your assumptions when necessary while supporting your goals.

Consider Cultural and Generational PerspectivesDifferent cultures and generations often have varying approaches to money. These differences aren't right or wrong – they're opportunities to learn and adapt our own financial strategies.

Question the CrowdJust because "everyone" is investing in cryptocurrency or buying rental properties doesn't mean it's right for your situation. Sometimes, the wisest financial moves aren't the most popular ones.

Remember, the goal isn't to abandon your financial beliefs entirely, but to enrich them with diverse perspectives. It's easy to get caught in echo chambers, actively seeking balanced financial advice might be one of the most important investments you can make.

After all, the best financial decisions often come not from confirming what we already believe, but from being open to what we might learn from others.