Micawber’s Favorites – August 26, 2017

Here are links to several of my favorite recent articles on personal finance and life. Enjoy:

The 5 Whys of Spending by Peter Polson at Tiller

Money is meant to be used, and we shouldn’t feel guilty about spending as long as we can afford our purchases and we use our money on things that are important to us. But all of us make many money decisions on autopilot, not stopping to consider why we are spending or if our purchases align with our values. This great article offers a quick and simple way to think about our purchases and get to the bottom of why we are making them. Asking these questions prior to a purchase will lead to wiser and more meaningful spending. This is a tool I will definitely use.

Riding the Elevator by Paul at Defeating Normal

I believe that those of us with “enough” have a responsibility to help those who are struggling. The author of this article compares this to taking an elevator up, getting off, and sending the elevator back down to pick up others. This is a great reminder of our responsibility to help others.

How Much Would You Have If You Saved $1 a Day for Your Entire Life? by Camerson Huddleston at Go Banking Rates

Establishing the habit of consistently saving is far more important than how much you save. This article looks at the long-term results of saving just $1 per day. The take-away is that not saving because you have to start small is probably the worst mistake you can make.

The Secret to a Happier, Healthier Life: Just Retire by Robert Powell at Market

Most of us look forward to the day when we will no longer have to work every day, but there is also some fear about giving up something that is such a big part of our lives. In this article the author interviews one of the co-authors of a study the findings of which show we have little to fear from trading a full-time job for the freedom of retirement.

A Guide to Johnny Depp’s ‘Extravagant and Extreme’ $2 Million-a-Month Lifestyle by Alison Millington at Business Insider

Last week Mavis Wanczyk, of Chicopee Massachusetts, won the second biggest lottery prize in US History. She elected the lump sum of $480 million. Even with that much money it is possible to blow it all if you are irresponsible and don’t have a plan. As a warning, Mavis might want to read this account of how actor Johnny Depp has blown through a similar amount of money. Of course, all of us would know exactly how to use a large sum of money wisely if we became suddenly rich. At least we would like the opportunity to try.

Goodwill Date Night by Noel Pauley at Baby Bows and Bullets

Life should be fun, and the way you spend your money should contribute to this goal. In that spirit, I enjoyed this creative idea for a fun date night. If you try it, I would love to hear the story – with pictures!

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