Psychology of Money

It is strange that we have Black Friday so close to Thanksgiving. Going from a time of thankfulness into rapid intense materialistic fueled buying, that the Wall Street Journal reported is just a rip-off anyway, more on that in a moment. Last year about this time, I wrote about Thanksgiving, because I think it is […]

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This article kind of flies in the face of the popular feel good ‘positive thinking’ philosophy, but before you jump to any conclusions, read on. Also, this has many ramifications to personal finances, which I will get to at the end of the article. The Power of Positive Thinking made popular by the Dr. Reverend Norman […]

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Rather than consider how much money we need to be happy, why not turn the question on its head and think about how too much money could make us unhappy. It may be a cliché, but there is truth in the saying, “money can’t buy happiness.” In a recent study profiled on the New York […]

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Hedonism isn’t a word we use very often. If loosely defined it means happiness achieved through feeling pleasure. Many psychologists say that one of the greatest barriers to happiness is ‘hedonic adaptation.’ When you are getting ready to buy something, you anticipate the pleasure it will bring. However, after you own it for a short […]

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Can you imagine what it would feel like if you had one day without worries? Does the thought of not having enough money worry you?  Are you anxious about what would happen if you lost your job? Are you fearful that when retirement comes, that you won’t have enough or you will run out of […]

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The funny comic strip “Coffee with Jesus” recently hit on some Christmas money themes. It prompted me to write this short article. I read this daily on Facebook. It’s from Radio Free Babylon. RFB usually makes me chuckle and it sometimes pokes my conscience. I feel a certain kinship with RFB, since we both are trying to bring Jesus’ […]

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I love to read, so a few weeks ago I had a burning desire to purchase an Ereader. I had a lot of reasons for purchasing one, and came up with a great list of my rationale: Ease of getting a book and reading it without the delay of going to the bookstore or library […]

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The attitude of being thankful is one of the foundational feelings we can have for helping us do well financially. When we are thankful for the things we have, we are content and are not in the “I’ll just be happy if I have…” mindset. Contentment and satisfaction are internal feelings; they can’t be obtained […]

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Most financial articles are self-help so I thought it might be good idea to discuss how to help others. I suspect most people can’t fix their own finances without some kind of help from someone else. Yes, ultimately it is still up to each individual person to apply financial wisdom, but they need your help. […]

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A new study shows that prior to the current economic crisis, it was the highly educated people that were more inclined to have unmanageable levels of debt. The percentage of Americans with more than 40% of their income going to debt payments increased from under 15% in 1991 to 27% in 2008. You would think […]

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Do you think your children are learning from their parents’ financial woes and are practicing better personal finances, such as saving more money? The Wall Street Journal yesterday reported on this subject in “Watching Parents Fail Sparks New Rebellion: Saving Money.” I think this could indeed be true. I know we have been transparent with […]

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Various news sources last week reported that inflation-adjusted median incomes haven’t increased since 1995. The recession is partly to blame, since many higher paying white-collar jobs are gone. Over the past 20 years many factories have moved overseas, so higher paying blue-collar jobs are rare. As if those challenges aren’t enough, those with modest incomes have a […]

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The banking industry has never been known as innovators or centers of creativity. That’s why an article in the Wall Street Journal caught my attention today: Ice-Cream Bank’s Rocky Road. I’ll get to the article in a moment, but my gripe with credit cards and gift cards is that although they provide a definite convenience, their […]

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In the back of our minds, it seems as if a lot of us have a desire to be rich. This thought reminds me of Tevye. The central charachter in the Tony (10) Award Winning Play, and Oscar (3) Winning Movie, Fiddler on the Roof, Tevye shows us his interesting story about poverty and wealth. This […]

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Someone once gave me advice when I was young and eager in business, to live just below my means. Have a nice car and loan to go with it, and other niceties of life, I was told that this would motivate me to succeed.  He said that living on the edge this way would keep […]

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The other day Dave Ramsey’s newsletter  had the Money Etiquette: 6 Mistakes to Avoid, I thought they were pretty good, funny and worth sharing. Dave’s newsletters are really good and worth signing up for (they’re free): Tipping poorly. Dear Mr. Bad Tipper: Nothing says, “Thank you for taking my order, bringing my food, refilling my […]

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There has been a lot of news the past few days about the $600+ million Mega lottery. If people knew the facts, they would never spend the money. It is crazy to see all of those people lined up with pockets full of cash to buy a chance at winning. Consider the facts: Tax on […]

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Today’s post comes from Mary Hunt of Debt Proof Living, and author of 7 Money Rules for Life Dear Mary, I am reading your book, “Debt-Proof Living,” and have begun tracking my expenses. I have a home-based business. Should I include business expenses or just personal expenses in the tracking? Lucy, Vermont Dear Lucy,You should […]

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It seems Scripture indicates that we should plan: But let all things be done properly and in an orderly manner (1 Corinthians 14:40) For God is not a God of confusion . . . (1 Corinthians 14:33) The plans of the diligent lead surely to advantage . . . (Proverbs 21:5). Any enterprise is built […]

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1: Negative Spending Have you created a budget and do you stick to it?  If not, you may be spending more money than you make.  People who have created a budget have a good idea of their monthly income and expenses and can accurately diagnose their financial condition.  Other signs of negative spending include the […]

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