What Is The Next Created Crisis?
.What Is The Next Created Crisis?
I think about the worker shortage the same way I think about the gas shortage.
It’s a created crisis. A made up mistake. In other words, and let me be crystal clear on this.
There is no worker shortage. How do I know? Because we are a capitalist country.
I see a bunch of old rich white men on television telling me how great capitalism is, and how it works for everybody. I even get to participate in capitalism. Like when the news says there is a gas shortage in North Carolina because the sky is falling, I pay double for a gallon of gas.
That is capitalism in action.
What Is The Next Created Crisis?
I think about the worker shortage the same way I think about the gas shortage.
It’s a created crisis. A made up mistake. In other words, and let me be crystal clear on this.
There is no worker shortage. How do I know? Because we are a capitalist country.
I see a bunch of old rich white men on television telling me how great capitalism is, and how it works for everybody. I even get to participate in capitalism. Like when the news says there is a gas shortage in North Carolina because the sky is falling, I pay double for a gallon of gas.
That is capitalism in action.
Economists call it supply and demand. When supply decreases, but demand remains the same, prices go up. It can happen when supply stays the same, but demand goes up. You see it with a lot of things because you participate in capitalism too. Prices go up when supply is low.
Capitalism.
What you are seeing is not a new narrative. It’s a bunch of business owners bemoaning the fact that they have to pay a better wage. Here in Arkansas, café’s pay $3 an hour, plus tips. The way they sold this to low income earners was “you can make more money on tips!” And sometimes that happens. Sometimes it doesn’t. But the wait staff puts up with a lot of crap for $3 an hour.
Oh yeah, did the business owner mention each shift is only 4 or 6 hours? They need that wage to be low so they can control costs. Except they don’t.
Beef costs more today because of processing plant changes. Produce costs more because of increased management at the border. They won’t let workers cross the border, so produce isn’t getting picked.
There is a shortage of truck drivers to deliver all the goods. It starts to become maddening when you think about it. Except, I know a guy who owns a trucking company. He made $250,000 last year. He pays his truckers an average of $60k each. His girlfriend works as his Manager of their two man office, and he paid her $180,000.
It’s his company, and he can earn what he likes. They do work hard, and stay busy.
But theirs is not the only story I know in real life. I have a friend in the lumber industry who runs close to the same margins. That is the advantage of owning the business. And it’s capitalism and it works just fine.
Because low wage earners don’t have much alternative other than to just work for the wage offered.
Until this year. For six months. They had a choice. They got some stimulus money. And they spent the hell out of it. The economy grew at 6.8%, a huge number. Wal Mart reported record breaking earnings.
The stock market and crypto markets surged to new heights because of spendable money.
$3 an hour for a 6 hour shift, plus $20 in tips couldn’t compete with $500 a week. It never will.
In Arkansas, the governor decided enough was enough.
To continue reading, please go to the original article here:
https://lowrychris.medium.com/what-is-the-next-created-crisis-d485a92e3481
Money: A Myth or A Conspiracy?
.Money: A Myth or A Conspiracy?
By Ashish Subedi
“It is well enough that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning” — Henry Ford
Chasing bunch of cash, that is where everything sums up to, right? But, is that where everything should sum up to? It’s kinda both ‘Yes’ and ‘No’. But the bigger question is, what are those god like papers?
What are real assets?
Money: A Myth or A Conspiracy?
By Ashish Subedi
“It is well enough that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning” — Henry Ford
Chasing bunch of cash, that is where everything sums up to, right? But, is that where everything should sum up to? It’s kinda both ‘Yes’ and ‘No’. But the bigger question is, what are those god like papers?
What are real assets?
Money? Well, that would be the current asset but everything grounds up to the actual physical properties. Lands, golds are the actual properties disguised as money.
Long before we had money, we used to have lands, golds as an asset. But these assets were very much hard to exchange. So, a bunch of brilliant people came up with a term ‘Money’.
For getting money, people had to reserve their actual property to the money lenders and this is how all it started.
History
It all started with Federal Reserve System. In early 19th century, a group of 6 brilliant and wealthy people had a meeting. One of them was Nelson Aldrich who led the meeting.
Other members were Henry Davidson, Frank Vanderlip, Benjamin Strong, Abe Andrews and Charles Norton. The meeting went for 9 days and they came up with Federal Reserve System and established a central bank in America.
“Central banks are the organizations responsible for money generation”
So, was that all what it took to make money the god?
People then had an idea about the central bank and what it can do. So, civilians was against them. On the other hand, Congress was also contra to their actions.
But, these 6 people were very smart for their time and made a conspired contract with the Congress.
Since, they had reach of many local banks, they published a fake and conspired news to the Civilians claiming that local banks were against Federal Reserve System.
Whereas, the local banks did what they asked. So, unknowingly people thought Federal Reserve System to be good.
To continue reading, please go to the original article here:
https://subediashish35.medium.com/money-a-myth-or-a-conspiracy-d1dfe468f73a
The Ten Commandments Of Personal Finance
.The Ten Commandments Of Personal Finance
From The Retirement Manifesto By fritz@theretirementmanifesto.com
Is it possible that there are some basic principles upon which your personal finance journey should be built? It turns out there are. I’ll warn you in advance – you may not like some of them.
Just as THE Ten Commandments guide us away from our personal nature which is sometimes tempted to do things which seem fun at the time, but lead to long term harm, these “Personal Finance Commandments” can guide you away from doing things which will bring harm to your long term financial goals.
The Ten Commandments Of Personal Finance
From The Retirement Manifesto By fritz@theretirementmanifesto.com
Is it possible that there are some basic principles upon which your personal finance journey should be built? It turns out there are. I’ll warn you in advance – you may not like some of them.
Just as THE Ten Commandments guide us away from our personal nature which is sometimes tempted to do things which seem fun at the time, but lead to long term harm, these “Personal Finance Commandments” can guide you away from doing things which will bring harm to your long term financial goals.
In full transparency, I didn’t come up with the original list. That honor goes to this article from MoneyStepper, which I just read tonight. I liked the concept and the guidelines presented so much, I’ve decided to build on the original article with original thoughts of my own, including the “10 Commandments” title.
In my quest to “Help People Achieve A Great Retirement”, I think there’s a lot of room to share some of the best concepts I come across in my heavy reading on personal finance topics. This one’s a good one, and worth my effort to build upon the concept.
Strive to achieve as many of these commandments as you can, and you’ll be well on your way toward financial independence. Break them, and suffer the consequences.
The 10 Commandments Of Personal Finance
I. Keep Your Housing Costs Under 25% of Your Net Income
Personally, I like these “rule of thumb” guidelines to help you decide how much of something you can afford. When you’re shopping with a realtor, or talking to a banker, they often attempt to “stretch” you to a ratio that’s higher than you should really undertake. So, look at your last paycheck.
How much went into your bank account? If you rent, your rent should be less than 25% of your monthly NET pay (after taxes). Ditto on your mortgage payment. If you’re spending more than the 25% “commandment”, consider downsizing, or seek out a job with higher pay.
II. Keep Your Mortgage Under 2.5 Times Your Annual Salary
Interesting that the first two “Commandments” focus on housing costs. Appropriate, given the cost of the roof over your head is the highest expense you’ll incur in your personal finance journey. Manage it carefully, and don’t buy “too much” home. If you’re making $50,000/year, your home should be worth $125k or less.
III. Don’t Buy A New Car Unless You’re A Millionaire
I LOVE this one. Bottom line: buying a new car is stupid (yes, I said Stupid!). It depreciates immediately, and it’s expensive. It’s one of the worst personal finance decisions you can make. Don’t “Buy New”!
After a few months, it’s “just a car”. Within a few years, if you’re like most people, you’re “itching” for another one. AVOID the materialism – focus on the function. My wife and I have bought used cars for years, and paid cash for all but our first one.
To continue reading, please go to the original article here:
http://www.theretirementmanifesto.com/the-ten-commandments-of-personal-finance/
Is Getting Money Advice From Friends and Family a Good Idea?
.Is Getting Money Advice From Friends and Family a Good Idea? Experts Weigh In
Heather Taylor Mon, June 6, 2022
When it comes to money advice, many Americans look to friends and family for the answers. Key findings in a GOBankingRates survey on money expertise reveal that 46% of 1,001 surveyed Americans have sought financial advice from friends and family over the last year.
Talking about finances with loved ones still remains a bit tricky. On the one hand, parents who have open discussions about money with their children may be able to help them develop their financial literacy early in life instead of later. On the other hand, and in the current challenging economic climate, it can be detrimental to take advice from friends or family that is not relevant to your situation, or may actually bad financial advice. Where should you go for insight?
Is Getting Money Advice From Friends and Family a Good Idea? Experts Weigh In
Heather Taylor Mon, June 6, 2022
When it comes to money advice, many Americans look to friends and family for the answers. Key findings in a GOBankingRates survey on money expertise reveal that 46% of 1,001 surveyed Americans have sought financial advice from friends and family over the last year.
Talking about finances with loved ones still remains a bit tricky. On the one hand, parents who have open discussions about money with their children may be able to help them develop their financial literacy early in life instead of later. On the other hand, and in the current challenging economic climate, it can be detrimental to take advice from friends or family that is not relevant to your situation, or may actually bad financial advice. Where should you go for insight?
GOBankingRates spoke to several financial professionals about which risks and benefits to keep in mind when consulting friends and family for financial guidance.
Keep Intention in Mind
Matthew Vitlin, MBA and financial advisor at Northwestern Mutual, said if you are getting financial advice from friends and family, most people can generally assume that these people mean well and want you to succeed and make good decisions. Eliminate the concern, if you have any, that they may try to pull you down or steer you towards something that benefits them.
Speak to People You Trust
One of the biggest benefits in getting financial advice from friends and family is that the advice is coming from people you trust. Unless they work in the industry or want you to invest in their company, Vitlin said you know they won’t directly benefit if you follow their advice. As a result, there is no conflict of interest.
Talking with people you trust may also allow you to feel comfortable opening up. Grant Gallagher, MBA and head of financial wellbeing at Affinity Federal Credit Union, said convenience and comfort is a benefit of receiving financial advice from friends and family. They’re also usually accessible as a resource, happy to take a quick call or text late at night if need be.
To continue reading, please go to the original article here:
https://finance.yahoo.com/news/getting-money-advice-friends-family-110015703.html
How To Never Worry About Money Again
.How To Never Worry About Money Again
The No-Sweat Way to Protect Yourself From Financial Disaster By laura goldstein
Building a bigger rainy-day fund may feel daunting. Start by breaking it down into manageable chunks.
That nagging feeling that a bit of bad luck—a medical emergency or a layoff—could derail your finances is widely shared. A new survey from the American Psychological Association found that 54% of people rated paying for unexpected expenses a very or somewhat significant source of stress.
And people across the income spectrum tend to be underprepared. A Pew Charitable Trusts analysis finds middle-income households typically have the equivalent of 20 days of income to tap, and even high earners have just 52 days. Building a bigger rainy-day fund may feel like a daunting task, given all your expenses and savings goals, but you can start by breaking it down into manageable chunks.
How To Never Worry About Money Again
The No-Sweat Way to Protect Yourself From Financial Disaster By laura goldstein
Building a bigger rainy-day fund may feel daunting. Start by breaking it down into manageable chunks.
That nagging feeling that a bit of bad luck—a medical emergency or a layoff—could derail your finances is widely shared. A new survey from the American Psychological Association found that 54% of people rated paying for unexpected expenses a very or somewhat significant source of stress.
And people across the income spectrum tend to be underprepared. A Pew Charitable Trusts analysis finds middle-income households typically have the equivalent of 20 days of income to tap, and even high earners have just 52 days. Building a bigger rainy-day fund may feel like a daunting task, given all your expenses and savings goals, but you can start by breaking it down into manageable chunks.
Do It One Essential Expense at a Time
Aim to cover three months of one regular bill, like your mortgage, suggests RBC Wealth Management financial adviser Darla Kashian. Then move on to three months of utilities, then car payments, and so on.
This approach gives you the satisfaction of crossing one more potential problem off your list. Once you’ve hit three months of all essentials, make your new goal doubling your account to get to six months.
Why so long? “When things get rough, your emergency fund enables you to make good choices, where you don’t have to rush into a job you don’t want or dip into a credit card,” says Certified Financial Planner Board consumer advocate Eleanor Blayney.
Get It Out of Your Hands
Looking at your budget may help you find places to trim, but for big savings goals it may be easier and more sustainable to simply stash money away with each pay-check, just as you do with your 401(k), and live on what’s left. Set up automatic deposits to a separate account just for your emergency money.
Any employer that offers direct paycheck deposit can allow you to split the money between multiple accounts. Many banks will also allow you to give your accounts a nickname to match your goal—make this one “emergency” or even “Don’t touch this!” as a little extra reminder of how important this fund is for you.
Make It a Little Bit Inconvenient
To continue reading, please go to the original article here:
http://money.com/money/collection-post/3938823/save-money-emergency-fund/
One Decision Separates the Wealthy From the Non-Wealthy
.One Decision Separates the Wealthy From the Non-Wealthy
“Courage can be developed. But it cannot be nurtured in an environment that eliminates all risks, all difficulty, all dangers. It takes considerable courage to work in an environment in which one is compensated according to one’s performance. Most affluent people have courage. What evidence supports this statement? Most affluent people in America are either business owners or employees who are paid on an incentive basis.” — Dr. Thomas Stanley
The problem with most people’s lives is that they are being shielded from the consequences of their behavior. There’s little to no accountability.
The fastest way to make success inevitable in your life is to only do work that is incentive-based. Only do that which you are rewarded and punished for the quality of your work. Everything you do needs to matter to the outcomes, consequences, and results you get in life.
So what is the decision?
One Decision Separates the Wealthy From the Non-Wealthy
“Courage can be developed. But it cannot be nurtured in an environment that eliminates all risks, all difficulty, all dangers. It takes considerable courage to work in an environment in which one is compensated according to one’s performance. Most affluent people have courage. What evidence supports this statement? Most affluent people in America are either business owners or employees who are paid on an incentive basis.” — Dr. Thomas Stanley
The problem with most people’s lives is that they are being shielded from the consequences of their behavior. There’s little to no accountability.
The fastest way to make success inevitable in your life is to only do work that is incentive-based. Only do that which you are rewarded and punished for the quality of your work. Everything you do needs to matter to the outcomes, consequences, and results you get in life.
So what is the decision?
The decision is to take complete ownership of every decision in your life. And how you do that is by only doing things in which you are compensated based on performance.
This goes completely against the norms in society. It goes against public education — which shields people from progressing at their own rates. It goes against most job structures, wherein a person is paid an hourly rate or salary.
If you want to make dramatic strides forward, you must only work in environments where the consequences of your actions are immediate and REAL. You need to be demanded by your situation to come up with a result.
This article will show you how:
Are You A Part Of The “Results Economy”?
Founder of the exclusive entrepreneurial coaching platform, Strategic Coach, Dan Sullivan distinguishes between those who are in the “Time-and-Effort Economy” with those who are in the “Results Economy.”
If you’re in the time and effort economy, you are focused on being busy. You actually believe the amount of time and energy you put into something merits praise. Those who are focused on being “busy” are protected in some way from the consequences of their actions.
They’re not being forced by necessity to come up with a solution. Chances are, they are an employee. They are part of a bureaucracy. And they’re striving to follow rules rather than break them.
Conversely, when you are in the results economy, you are only focused on achieving a specific result. You are focused on results because if you don’t get the result, there will be consequences to pay — for you and others.
You’re not worried about your reputation. You’re not worried about following the rules of ridiculous systems which are seeking to make you their slave anyways.
Dr. Thomas Stanley found in his research that those who are paid based on RESULTS are most courageous and also the most wealthy.
You actually have to take risks.
You can’t be sheltered from the consequences of your behavior.
To continue reading, please go to the original article here:
https://benjaminhardy.com/one-decision-separates-the-wealthy-from-the-non-wealthy/
Financial Slimming
.Financial Slimming
Jonathan Clements | Jun 5, 2022
I THINK SERIES I savings bonds are a great place to stash money you’ll need to spend in five or six years, and yet I’ve resisted buying. I’ve seen credit cards that offer more cash back than the cards I currently carry, but I haven’t taken the bait. The reason: My goal is to have fewer financial accounts, not more, even if it means fewer dollars in my pocket.
As I discussed in an article earlier this year, I’ve unloaded the jumble of investments in my three Roth accounts—which I plan to bequeath to my kids—and consolidated everything in a single fund, Vanguard Total World Stock Index Fund. That’s had an immediate payoff: Amid this year’s market turmoil, I haven’t bothered checking the performance or even looking at the account values.
Financial Slimming
Jonathan Clements | Jun 5, 2022
I THINK SERIES I savings bonds are a great place to stash money you’ll need to spend in five or six years, and yet I’ve resisted buying. I’ve seen credit cards that offer more cash back than the cards I currently carry, but I haven’t taken the bait. The reason: My goal is to have fewer financial accounts, not more, even if it means fewer dollars in my pocket.
As I discussed in an article earlier this year, I’ve unloaded the jumble of investments in my three Roth accounts—which I plan to bequeath to my kids—and consolidated everything in a single fund, Vanguard Total World Stock Index Fund. That’s had an immediate payoff: Amid this year’s market turmoil, I haven’t bothered checking the performance or even looking at the account values.
Since then, I’ve closed a checking account and a credit card, leaving me with three credit cards and two checking accounts—one personal, one business. I’ll likely ditch one of the three credit cards, leaving me with two. I’ll use one for everyday spending and keep the other as a backup, in case I lose my primary card or it gets hacked.
Next on my to-do list: cutting back the rewards programs that I use. Thanks to decades of business travel, I’m signed up for four frequent-flier programs and three hotel programs, plus I collect Amtrak rewards points.
To continue reading, please go to the original article here:
10 Genius Things Warren Buffett Says To Do With Your Money
.10 Genius Things Warren Buffett Says To Do With Your Money
Elyssa Kirkham Fri, June 3, 2022,
Warren Buffett is arguably the best-known, most-respected investor of all time. Buffett is also known for his folksy charm and his memorable quotes about the art of investing.
When you're aiming to reach the top of the mountain, it's usually wise to closely follow the footprints of those who have successfully made the climb before you. Your odds of investing success can increase exponentially if you learn and apply Buffett's best investing tips.
10 Genius Things Warren Buffett Says To Do With Your Money
Elyssa Kirkham Fri, June 3, 2022,
Warren Buffett is arguably the best-known, most-respected investor of all time. Buffett is also known for his folksy charm and his memorable quotes about the art of investing.
When you're aiming to reach the top of the mountain, it's usually wise to closely follow the footprints of those who have successfully made the climb before you. Your odds of investing success can increase exponentially if you learn and apply Buffett's best investing tips.
1. Never Lose Money
One of the most popular pieces of Buffett advice is as follows: "Rule No. 1: Never lose money. Rule No. 2: Never forget rule No. 1." If you're working from a loss, it's that much harder to get back to where you started, let alone to earn gains.
2. Get High Value at a Low Price
In the 2008 Berkshire Hathaway shareholder letter, Buffett shared another key principle: "Price is what you pay; value is what you get." Losing money can happen when you pay a price that doesn't match the value you get -- such as when you pay high interest on credit card debt or spend on items you'll rarely use.
Instead, live modestly like Buffett by looking for opportunities to get more value at a lower price. "Whether we're talking about socks or stocks, I like buying quality merchandise when it is marked down," Buffett wrote.
3. Form Healthy Money Habits
In a 2007 address at the University of Florida, Buffett said, "Most behavior is habitual, and they say that the chains of habit are too light to be felt until they are too heavy to be broken." Work on building positive money habits, and breaking those that hurt your wallet.
4. Avoid Debt, Especially Credit Card Debt
To continue reading, please go to the original article here:
https://finance.yahoo.com/news/10-genius-things-warren-buffett-130115951.html
Five Freedoms
.Five Freedoms
Jonathan Clements | January 25, 2020
FOR THREE YEARS, I lived on Roosevelt Island, in the middle of New York City’s East River. It’s a wonderful place—a quiet, friendly, low-crime oasis in the middle of one of the world’s largest, most frenetic cities.
During my time there, the Franklin D. Roosevelt Four Freedoms Park opened on the island’s southern tip. The park is named after a 1941 FDR speech, where he articulated “four essential human freedoms”: freedom of speech, of worship, from fear and from want.
FDR’s speech was inspiring. Managing money is altogether more prosaic. Still, I’d argue that our pursuit of money is also about a hunger for freedom—with five dimensions:
Five Freedoms
Jonathan Clements | January 25, 2020
FOR THREE YEARS, I lived on Roosevelt Island, in the middle of New York City’s East River. It’s a wonderful place—a quiet, friendly, low-crime oasis in the middle of one of the world’s largest, most frenetic cities.
During my time there, the Franklin D. Roosevelt Four Freedoms Park opened on the island’s southern tip. The park is named after a 1941 FDR speech, where he articulated “four essential human freedoms”: freedom of speech, of worship, from fear and from want.
FDR’s speech was inspiring. Managing money is altogether more prosaic. Still, I’d argue that our pursuit of money is also about a hunger for freedom—with five dimensions:
1. Freedom from fear.
We all want a sense of financial security—and yet all too many folks lead fragile financial lives. If our income barely covers our expenses, we may be okay if it’s a typical month. But so few months turn out to be typical.
We face frequent financial shocks, some large, some small. The car breaks down. The roof needs to be replaced. We lose our job. If we have scant savings and little financial breathing room in our monthly budget, such shocks can leave us scrambling to cover the bills and send our anxiety soaring.
As I mentioned last week, a Consumer Financial Protection Bureau study found that the sum we keep in liquid savings—meaning cash, checking accounts and savings accounts—has a huge impact on financial well-being. The price to escape much of our financial fear? All it may take is a few thousand dollars tucked away in the bank.
2. Freedom from financial dependence.
We’re all dependent on other folks. Even billionaires need others to produce the goods and services they consume, to buy the investments they sell and to purchase the products their businesses make.
But there are degrees of financial dependence—and the more dependent we are, the shakier our financial life can seem. I don’t like being financially dependent on others, and I can’t imagine many do.
Don’t get me wrong: When the day comes, I won’t have any qualms about claiming my Social Security check. But I would never want to be entirely dependent on a government program, a charity or family members.
Even working for others strikes me as a form of financial dependence, though it’s one most of us can’t avoid. It’s terrible to feel our livelihood hinges on a capricious boss. True, if we’re unhappy, we can always take our labor elsewhere. But switching employers is a costly, anxiety-inducing business.
3. Freedom from financial obligations.
To continue reading, please go to the original article here:
Money Problems: Why They're All Your Fault -
.Money Problems: Why They're All Your Fault - By Tara Struyk
The truth can be a little uncomfortable - hard to swallow - and down right tough to deal with but in reality doing so always makes us a better person - It is much better and easier if we can make this awareness and acknowledgement on our own -- Maybe this article will be enlightening for you and assist you in making any helpful changes to improve your quality of life -
I love writing about money —not because I’m obsessed with wealth (or my relative lack thereof), but because I think the way we spend our money reflects who we are, good or bad. That’s probably why I bought the very first condo I saw. I’m known to be impatient, impulsive even, in just about all things.
Was it a mistake? So far so good, but I left a lot more to fate than is probably wise in a six-figure purchase. And let’s just say that I hope to exercise a little more self control next time. Of course, whether it’ll actually work out that way is another story altogether.
Money Problems: Why They're All Your Fault - By Tara Struyk
The truth can be a little uncomfortable - hard to swallow - and down right tough to deal with but in reality doing so always makes us a better person - It is much better and easier if we can make this awareness and acknowledgement on our own -- Maybe this article will be enlightening for you and assist you in making any helpful changes to improve your quality of life -
I love writing about money —not because I’m obsessed with wealth (or my relative lack thereof), but because I think the way we spend our money reflects who we are, good or bad. That’s probably why I bought the very first condo I saw. I’m known to be impatient, impulsive even, in just about all things.
Was it a mistake? So far so good, but I left a lot more to fate than is probably wise in a six-figure purchase. And let’s just say that I hope to exercise a little more self control next time. Of course, whether it’ll actually work out that way is another story altogether.
But that’s really what issues that surround money are all about, isn’t it? The way we behave with our money is a lot like many other things in life — we know what we should do, but that hardly means we actually do it.
We know we should exercise, avoid fast food, and eat more vegetables just like we know we should spend less, avoid debt, and save more of our money. Most of us struggle with both, at least sometimes.
The key to solving money problems, then, often isn’t about outside factors (like making more money). Instead, it’s about our own habits and behaviors. (See also: Party Like It's $19.99: The Psychology of Pricing)
So how can we make better choices when it comes to money? First, I think, we need to accept that our money problems are (usually) all our own fault. Then, it’s time to stop relying on self discipline and develop habits that put bad choices out of reach.
What’s the Problem?
I think the key to unraveling any money problem is to first accept that the problem is probably an emotional one.
Just think about some of the money problems people tend to get into. Debt is one of the most obvious, and if you’ve ever watched Suze Orman or Dave Ramsay or Oprah address this, it’s pretty clear that debt goes much deeper than just a frivolous desire to acquire more.
For some people, a desire to give their kids all the things they never had growing up makes it impossible for them to say “no.” For others, a financial setback has them feeling too ashamed to admit they can no longer afford the lifestyle they’re used to.
And far too many people feel important, triumphant — even happy — when they come home from the mall with an armload of new purchases — whether they can afford them or not.
To continue reading, please go to the original article here:
http://www.wisebread.com/your-money-problems-why-theyre-all-your-fault
Money Problems: Why They're All Your Fault
.Money Problems: Why They're All Your Fault
By Tara Struyk
I love writing about money — not because I’m obsessed with wealth (or my relative lack thereof), but because I think the way we spend our money reflects who we are, good or bad. That’s probably why I bought the very first condo I saw. I’m known to be impatient, impulsive even, in just about all things.
Was it a mistake? So far so good, but I left a lot more to fate than is probably wise in a six-figure purchase. And let’s just say that I hope to exercise a little more self control next time. Of course, whether it’ll actually work out that way is another story altogether.
Money Problems: Why They're All Your Fault
By Tara Struyk
I love writing about money — not because I’m obsessed with wealth (or my relative lack thereof), but because I think the way we spend our money reflects who we are, good or bad. That’s probably why I bought the very first condo I saw. I’m known to be impatient, impulsive even, in just about all things.
Was it a mistake? So far so good, but I left a lot more to fate than is probably wise in a six-figure purchase. And let’s just say that I hope to exercise a little more self control next time. Of course, whether it’ll actually work out that way is another story altogether.
But that’s really what issues that surround money are all about, isn’t it? The way we behave with our money is a lot like many other things in life — we know what we should do, but that hardly means we actually do it.
We know we should exercise, avoid fast food, and eat more vegetables just like we know we should spend less, avoid debt, and save more of our money. Most of us struggle with both, at least sometimes.
The key to solving money problems, then, often isn’t about outside factors (like making more money). Instead, it’s about our own habits and behaviors. (See also: Party Like It's $19.99: The Psychology of Pricing)
So how can we make better choices when it comes to money? First, I think, we need to accept that our money problems are (usually) all our own fault. Then, it’s time to stop relying on self discipline and develop habits that put bad choices out of reach.
What’s the Problem?
I think the key to unraveling any money problem is to first accept that the problem is probably an emotional one.
Just think about some of the money problems people tend to get into. Debt is one of the most obvious, and if you’ve ever watched Suze Orman or Dave Ramsay or Oprah address this, it’s pretty clear that debt goes much deeper than just a frivolous desire to acquire more.
For some people, a desire to give their kids all the things they never had growing up makes it impossible for them to say “no.” For others, a financial setback has them feeling too ashamed to admit they can no longer afford the lifestyle they’re used to.
And far too many people feel important, triumphant — even happy — when they come home from the mall with an armload of new purchases — whether they can afford them or not.
To continue reading, please go to the original article here:
http://www.wisebread.com/your-money-problems-why-theyre-all-your-fault