Micawber’s Favorites – December 2, 2017

Links to several of my favorite recent articles on money and life:   

Let’s start with three fascinating articles on a similar topic: the value of limitations or constraints.

The Liberation of Limiting Yourself by Ben Carlson at Wealth of Common Sense

“The liberation of limiting yourself isn’t about a reduction in opportunities; it’s about how you define what your true opportunity set really is so you can avoid wasting time on things that aren’t important.” When done correctly setting limitations can lead to increased focus and creativity.  

The Weird Strategy Dr. Seuss Used to Create His Greatest Work by James Clear

“…constraints are not the enemy. Every artist has a limited set of tools to work with. Every athlete has a limited set of skills to train with. Every entrepreneur has a limited amount of resources to build with. Once you know your constraints, you can start figuring out how to work with them.” The size of your canvas doesn’t have to affect the quality of your work.

Just Because Someone Has More Doesn’t Mean You Don’t Have Enough by Mr. Groovy at Freedom Is Groovy

This is a world-class title, and a great article too. Constraints often aren’t self-imposed, but come from the outside. With some creativity and persistence these limitations can also be overcome. But it will take some faith in yourself and the ability to ignore the voices out there declaring that the American dream is dead.

Why Being Obsessed With Retirement Could Actually Ruin Your Life by C.J. Cato at Vow of Practicality

“I really can’t think of anything more awful than spending the first half of your life wishing you were in the last half, and the last half wishing you were in the first.” Preparing for a bright future is important but not enjoying the present is tragic.

How to Hold An Effective Family Budget Meeting by Chelsea at Mama Fish Saves

I teach a personal finance class to a fantastic group of young adults. Without exception they wish their parents would have taught them more about personal finance and involved them more in their family’s budget. So the most important thing you can do is to have family budget meetings. And when you do, this article offers some great guidelines on how to make the most of it.

My Net Worth Revealed by Paul at Asset-Based Life

It is common for personal finance bloggers to publish their net worth. I guess I am old-fashioned, or maybe just private by nature, but I can’t see myself doing that. Not only that, my wife wouldn’t be at all happy with me. However, I could see myself publishing a net-worth statement like this one. This is very well-written and a great reminder of the things that are truly important.