I don't care how much money you make, the day you stop tracking your expenses it's the day you become broke. The moment you start to believe I make so much money that I don't have to keep track of what I'm spending my money on is the beginning of your end (unless you're Jeff Bezos or something with more money than countries).
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For some of us life looks good on the surface but we still feel horrible whenever we think about our finances. One of the reasons is that there are things that we have hidden from our sight but are still weighing on us every day. Let's talk about it
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Quote: I don't trust myself. I have evidence.
Idea 1: My Laziness is Why I am Productive.
Idea 2: To Say NO, You must Have a DEEP YES.
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Rules feel restrictive until you realize they provide the most freedom. in this episode, I explain why you should have rules around your money and various aspects of your life.
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Q4 GDP was released on Thursday, it was 3.3%. Far higher than the 2% economists expected. However, the great number hides a bigger problem with the American people. In this episode, we dive into the underlying numbers enabling the US Economy to keep growing but costing individuals their freedom.
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We are never told about the secondary costs of home ownership. It is a hidden cost that affects everything
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I have come to the realization that the number 1 reason that 90% of us suck at handling money is because we suck at the skill of spending money. Let me Explain
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With Mint shut down last year, thanks Intuit 😑. I was on a search for a new budgeting and spending tracker app.
To read the writeup
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An Important question we need to ask ourselves as we go through the year 2024
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Derek Thompson said, "Money is a vaccine against misery not a drug for happiness."
The Wall Street Journal recently released research on how much money people say they need to be happy. It was interesting to see the general breakdown shown based on their current income and their needed income. Almost to a T, every single person "needed" a 50% income raise, no matter their income level.
Might just be what you choose not to do
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I released this post around July for a Mid-Year Review but I think everything on the list is the same items to be looked over for an End of Year Financial Review. Especially as we get some free time during the Holiday Season. You will not get through everything but at least there are items you can knock out quickly during your time off.
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With Thanksgiving being this week, I think it is the perfect time to reflect on all that 2023 has had to offer to each of us. Think about what we are grateful for and what we are grieving.
3 incomplete ideas:
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Say it to yourself before you compare yourself to anyone else
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Over the last 3 years, US citizens under 35 years of old have grown their net worth by over 143% (2.5x). However, every survey of these cohort shows they are more miserable than ever before. So the question is WHY?
Check out the blog post by Ben Carlson: "Americans Have Never Been Wealthier & No One is Happy.
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When you can play both offense and defense with your money, you create greatness.
Start Here to Understand Your Personal Finances:
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As much as we want to believe we have complete agency over everything we do.
WE DO NOT!
Our environment plays a massive role in how we live our lives.
The question is What are we feeding on?
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The Dunning–Kruger effect is a cognitive bias in which people with limited competence in a particular domain overestimate their abilities. We focus on the Mount Stupid part of the effect and not nearly enough on the Valley of Despair where most people are stuck.
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I spent much of my Friday morning staring at my computer trying to develop a complete idea to share on the podcast. Unfortunately, nothing worked. I made and scrapped about 9 Podcast recordings because the words were not coming out right. So rather than post nothing this week, I decided to try something different. Hope you find this useful
Idea 1: Make The Big Change
Idea 2: How to Invest Quick hit
Idea 3: Don't Buy Fancy Stuff
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