.What Your Relationship with Money Reveals About You

...and Why Romantic Partners Often Fight Over Finances

By Seth J. Gillihan Ph.D. Think, Act, Be

Money is a complicated topic. Most of us tend to feel uncomfortable talking about it, and might even prefer to reveal aspects of our sex lives than to divulge our income.

Even if we spend countless hours thinking of ways to make more money, we may not give much thought to how we relate to money. But when you pay attention to your relationship with money, you can gain some important insights into yourself.

​ Your Mindset

Do you feel like there’s never enough money, and always too many expenses? Does it pain you to spend money? You may have a scarcity mindset, as described by Steven Covey in his bestselling book The Seven Habits of Highly Effective People. With this mindset, you see money and other resources as zero-sum games—with more for others meaning less for you and vice versa.

.13 Personality Traits That Lead to Money Success

Personality. We all have one, some more than others. Personality is defined as “the combination of characteristics or qualities that form an individual’s distinctive character.”

There is only one of you. It is the unique combination of traits that make the individual who they are, and the facets that make up our personalities play a significant role in our lives.

In fact, your personality traits will likely significantly impact the outcomes of your life, either helping or hindering your ability to succeed in various areas.

One big area impacted by personality characteristics is money and personal finance, where you may find that some of your personality traits are more desirable than others.

.Before Spending Your Emergency Fund, Ask Yourself These Questions

By Nicole Dow Senior Writer

We get so used to thinking of our emergency fund as cash we shouldn’t touch. It can feel wrong to actually spend that money.

But the financial situation that’s cropped up as a result of the coronavirus pandemic makes now a perfectly legit time to tap into your reserves. Honestly.

Your individual circumstance, however, may leave you questioning whether it’s really okay to be spending your emergency fund. Maybe you have a spouse who is still working or enough money in the bank to stretch a few weeks longer.

.8 Things You Should Never Do With Your Money, According to Experts

By The Penny Hoarder Staff

One way or another, we all make mistakes. It’s the human condition.

But right now, in the midst of a pandemic, one thing you don’t want to make mistakes with is with your money. Sure, we’ve all let bad financial habits creep up on us. But in these uncertain times, it’s more important than ever to make sure you’re not your own bank account’s worst enemy.

Here are seven mistakes people are making with their money during the pandemic, and what you can do instead.

1. Don’t Waste Hundreds on Homeowners Insurance

You’re probably wasting money right now. And it’s probably on something you’d never expect — your homeowners insurance policy. This isn’t something you actively think about — you just know you’re required to have it.

.10 Quick Steps That’ll Have You Managing Your Money Like A Millionaire

By The Penny Hoarder Staff

Life would be a whole lot easier if someone would just Venmo us $1 million, but unfortunately the chance of that happening is, well, probably zero. (Venmo doesn’t allow transactions that large anyway.)

But even though our chances of becoming a millionaire are slim, we can still manage our money like one. No, we’re not going to tell you how to buy hundreds of shares of Apple stock. Or how to pick out the perfect yacht. These are simple money moves any normal, non-millionaire person can make today. Each tip can get you closer to achieving your big goals.

Take a look:

1. Grow Your Money 11x Faster — Without Risking Any of it

You’ve probably heard the best way to grow your money is to stick it in the stock market and leave it there for, well, ever.

.“I’m Drowning. There’s No Way I Can Get Better at Money. What Do I Do?”

The Three Year Experiment Financial and location freedom for families. In 3 years or less.

A lot of what I write is directed towards people who have been managing their money for a long time. But in case you stumbled on this blog and you feel like you’re one bill away from bankruptcy, I thought I’d write a post for you.

Let’s say that money scares you. You don’t look at you credit card bills, you don’t know what your credit score is, you haven’t even thought about retirement. That’s a long time away. But you know that something has to change. You know you’ve got a lot of debt, and spending feels scary, and it never feels like you have anything approaching control around your money.

There is ONE thing you need to do. One thing only. I’m not going to tell you what that is, yet. First, I want you to figure something out.

.Same As It Ever Was: Things That Never Change In a World That Never Stops Changing

Jun 15, 2020 by Morgan Housel

“People spend too much time on the last 24 hours and not enough time on the last 6,000 years.” – Will Durant

This is a few short stories about things that never change in a world that never stops changing.

Things that never change are the most important things to pay attention to. Change gets most of the attention, because it’s exciting and surprising. But things that stay the same – how people behave, how they think, how they’re persuaded – is the real meat of history.

Voltaire’s quote that “History never repeats itself, but man always does,” sums it up. Predicting the future is hard. Few can do it. Understanding what’s going through people’s heads is easier, and almost as useful. The world in 2020 looks nothing like the world of 1920, which was a different universe compared to 1920 BC.

But how people’s heads work hasn’t changed. How they think about fear, greed, opportunity, scarcity, and tribal affiliations hasn’t changed. It won’t change in our lifetimes.

.7 Mistakes Many of Us Are Making With Our Money During the Pandemic

By The Penny Hoarder Staff Updated June 15, 2020

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One way or another, we all make mistakes. It’s the human condition.

But right now, in the midst of a pandemic, one thing you don’t want to make mistakes with is with your money.

Sure, we’ve all let bad financial habits creep up on us. But in these uncertain times, it’s more important than ever to make sure you’re not your own bank account’s worst enemy.

Here are seven mistakes people are making with their money during the pandemic, and what you can do instead.

.Warren Buffett: This is The No. 1 Mistake Parents Make When Teaching Kids About Money

Jul 30 2019 Tom Popomaronis, Contributor@TPOPOMARONIS

If there’s one person who understands the importance of teaching kids about financial responsibility, it’s Warren Buffett.

Before he became CEO of Berkshire Hathaway, the legendary investor started a handful of small businesses — starting at age six, when he purchased a six-pack of Coke for 25 cents and sold each can for a nickel. He also sold magazines and gum from door to door.

“My dad was my greatest inspiration,” Buffett said in an interview with CNBC back in 2013. “What I learned at an early age from him was to have the right habits early. Savings was an important lesson he taught me.”

When asked what he thinks is the biggest mistake parents make when teaching their kids about money, the billionaire said, “Sometimes parents wait until their kids are in their teens before they start talking about managing money — when they could be starting when their kids are in preschool.”

.4 Things I Regret Wasting Money and Time on In My 20s

61-Year-Old Self-Made Millionaire: 4 Things I Regret Wasting Money and Time on In My 20s

May 30 2019 Grant Cardone, Contributor@GRANTCARDONE

It’s been more than 40 years since I graduated high school — and a lot has changed since then. I’m older, wiser, wealthier and much more successful.

I’ve built a multimillion-dollar business and am the CEO of seven privately held companies. But there’s always room for improvement — even at age 61. In order to do that, it’s important to acknowledge past failures and learn from them.

Looking back at my 20s, there was so much I didn’t know about money. With what little I earned, I wasted on useless things that didn’t benefit me at all. Here are the top four things I regret spending my time and money on: