A Place For Things I Think About
Teens don’t typically think long-term strategies. That’s not surprising. They have only been alive for less than 20 years (hence the term teenager), so thinking 40 or 50 years into the future is sometimes too abstract. But if they only knew how much their future selves would benefit from a little education and effort, maybe…
“If I had only been taught this stuff when I was young.” I hear it often. We use the ignorance of the past to serve as our excuse for inaction today. As a young adult just entering the workforce, you likely thought the idea of retirement some 40+ years into the future was too distant…
We are refinancing our home mortgage. Interest rates are still extremely low and our rate will only be dropping from 4.5% to 3.625%. Some might argue that this isn’t enough of a reduction to warrant the time, effort, and cost of refinancing. I disagree. We will likely pay for most of the fees associated with…
People talk about willpower as if it is some supernatural power. A force that requires Jedi-like mastery that can be used to alter the fabric of space-time in order to prevent cookies from entering your mouth. But there isn’t a supernatural power or magic involved, nor is there willpower. There simply are your choices. And…
In 1943, Abraham Maslow introduced us to his hierarch of needs concept. The basic premise is that needs must be satisfied from the bottom up. For example, if one’s physiological and safety needs are not met, love and belonging, esteem, and self-actualization cannot be fully realized. Physiological needs – food, shelter, sleep, homeostasis Safety needs…
A popular expression I used to hear a lot when I was in the service was “you’re never going to get rich working for the government”. I’m sure other work sectors share the same sentiment. But just saying it, even believing it, doesn’t make it true. A good paying job along with the ability to…
According to Vicki Robin, author of Your Money or Your Life, U.S. respondents to happiness surveys consistently rate their happiness between 2.6 – 2.8 (out of 5) regardless of income level. When asked how much more they’d need to be happy, they respond somewhere between 50-100% more than they have now. But those that have…
The New York couple in this CNBC article feels stress about their finances and “average” lifestyle, despite a household earning of $500,000 per year. Living in New York is certainly more expensive than in many other parts of the country, but does their financial stress stem from their circumstances or their choices? In Vicki Robin’s…
This is a great reminder that your income level is only one aspect of your personal finance strategy. Granted it is a very powerful part of the strategy and it is the part you can likely drive the greatest change. Improving your skills, education, hours worked, projects completed, etc. can result in significant income gains….
On Saturday night I led the first session of a basic personal finance training class I am offering through my church. I can’t claim to have written or developed the material. It is more accurate to say I compiled the material from the many books, blogs, podcasts, YouTube channels, and Twitter accounts I regularly…