I’ve often said that achieving personal financial success is 80 per cent psychology and 20 per cent math. Every financial decision you make involves both emotion and logic. It’s been said that when emotion and logic come into conflict, emotion usually wins. One example of this is why we tend to chase performance in investing. … Continue Reading
Category Archives: Money Psychology
How much say do we have about our financial future?
When it comes to your financial future, do you believe in fate and destiny? Do you believe your future is predetermined by God, nature or some other form of destiny? Imagine a group of kids making toy paper boats they are going put into a river or a stream. Toy boats are pretty simple. Many… Continue Reading
Putting Money In Its Place
Tell your money where to go. Don’t ask where it went. ~ Unknown We spend a lot of time here kicking around different ideas on how to manage your money. What’s the best way to spend it, save it, and invest it? It’s all about controlling your money rather than letting it control you. From… Continue Reading
Opportunity Cost and Opportunity Lost
Opportunities fly by while we sit regretting the chances we have lost, and the happiness that comes to us we heed not, because of the happiness that is gone. ~Jerome K. Jerome, The Idle Thoughts of an Idle Fellow, 1889 Whether you’re talking about your investments, your view on the economy, or your approach to… Continue Reading
5 Ways to Clear Financial Obstacles
Obstacles are like wild animals. They are cowards but they will bluff you if they can. If they see you are afraid of them… they are liable to spring upon you; but if you look them squarely in the eye, they will slink out of sight. ~ Orison Swett Marden Do you have financial goals… Continue Reading
How Do You Deal with Financial Stress?
No one can get inner peace by pouncing on it. ~ Harry Emerson Fosdick I’ve been pretty stressed out lately over our impending move and all of the uncertainties surrounding it. In fact, I went down for the count last week with some kind of flu virus that was, I’m pretty sure, not unrelated to… Continue Reading
Get Me Through December
Get me through December A promise I’ll remember Just get me through December So I can start again ~ from the song “Get Me Through December“ Markets and economics, like life, move in cycles. The only sure thing about a very long up or down-swing is that it will inevitably reverse. December is a time… Continue Reading
Myth Posts and the Lost Art of Debate
The aim of an argument or discussion should not be victory, but progress. ~Joseph Joubert, Pensées, 1842 Who doesn’t love a good myth post? They seem to be everywhere, and guaranteed to elicit clicks galore. The minute you see a title like “10 Myths about . . .”, on financial blogs and you are compelled… Continue Reading