Money skills are truly 21st century survival skills. – Richard B. Wagner Wagner goes on to say, “…money skills access the stuff of survival. For first world ‘us’ money is our key for food, shelter, and clothing.” This is undoubtedly true, and since every parent’s goal is for their children to one day leave the…
There is a popular theory that one of the primary ingredients of happiness is progress. This is sometimes called The Progress Principle. In summing up the progress principle Psychologist Jonathan Haidt wrote: “Pleasure comes more from making progress towards goals than from achieving them.” Tony Robbins adds: “I can tell you the secret to happiness…
Run Your Own Race!Money advice that’s financially sound may not be psychologically sound. – Catey Hill In his book Smarter, Faster, Better author Charles Duhigg recounts an interesting experiment done at Duke University several years ago. The subjects were varsity athletes. They were taken to a running track, placed 200 meters from a finish line,…
“It might be scary, but nobody gets hurt on a roller coaster unless they jump off.” – Dave Ramsey “Please keep your hands and arms inside the train at all times, and enjoy the ride” the voice on the intercom announced as we rolled slowly out of the station. The train then took a sharp…
Laughter is the best medicine, and we should make sure we get some every day, but humor can also be a great teacher. With that in mind, here are 9 clever comics about money by various cartoonist. Correlation and Causation It is impossible to study investing without encountering statistical concepts, among them the devilish difficulty…
I don’t have much to complain about from my childhood. I was born of goodly parents who loved each other and loved and supported me in all I did. However, they did make one mistake. It’s a mistake I suspect many loving, involved, well-meaning parents make. You see, they were always telling me that I…
Money is a fascinating topic, at least partly because it intersects with so many other fascinating topics. While your personal financial plan should be simple, to fully understand money you need to have at least a basic understanding of many other topics such as psychology, economics, politics, sociology, mathematics (particularly statistics and probability), philosophy, and…
I have always admired people who can teach an important money principle with a simple graph, chart, or drawing. I have been collecting them over the years and thought it was time to share some of my favorites: The Micawber Principle in Pictures The simplest interpretation of this drawing is that you are rich, or…
Water Savings Accounts and Money Reservoirs I live in a desert. The Salt Lake Valley gets about 15 inches of rain a year and semiarid deserts are classified as areas that receive between 8 and 20 inches of rain. And yet, the Salt Lake Valley today doesn’t look like a desert. The Mormon pioneers…
