Here are links to several of my favorite recent articles on personal finance and life. Enjoy:
Life is Not about Your Preferences by Kalie at Pretend to Be Poor
Making smart decisions with your money is not easy. It requires discipline and sacrifice. Kalie, the mother of a three-year-old, reminds us that these attributes are especially difficult for toddlers, who tend to think that they are entitled to everything they want. I have an eighteen-month-old grandson, so I can relate. As adults we should have grown out of this phase but when it comes to financial decisions many of us haven’t. This article is a great reminder that we are not entitled to everything we want but constantly have to make compromises and trade-offs.
Paying Cash for Our House is Only Half the Story by Ms. Montana at Montana Money Adventures
Like Ms. Montana I used to love listening to Paul Harvey’s, The Rest of the Story, radio segments. Here Ms. Montana tells The Rest of the Story on how she and her husband were able to pay cash for a house. Needless to say it involved a degree of discipline and sacrifice that most of us aren’t willing to make. Another great reminder that worthwhile things are never easy.
Why Women are Better Investors by Chris Taylor at Reuters
Contrary to popular opinion women and men are not the same. While there is room for a lot of variation within each gender when looking at large groups of people definite trends emerge. Each gender has its own strengths and weaknesses. This is not something to be ignored or feared, but should be looked at as an opportunity to work together and learn from each other.
This article summarizes a study by Fidelity Investments of more than 8 million investment accounts. The result, seen as a surprise by many, is that women are both better investors and better savers than men. The reason? In a word, overconfidence. As financial planner George Gagliardi puts it, “Men regard their stock picks as a sport that comes with bragging rights, and that is what gets them into trouble.” Read the article to learn how much better women do and how, no matter which gender you are, you can learn how to invest like a woman.
2017’s Most & Least Independent States by Richard Bernardo at WalletHub
In commemoration of Independence Day in the United States, celebrated earlier this month on July 4th, this article rates the 50 states on financial independence. My home state of Utah finished 2nd with only Colorado finishing higher. I was most proud of the fact that Utah was #1 in the nation in percentage of households with emergency funds, something I consider very important. Read this article to find the other criteria used and where your state ranks.
Why 2.5 Billion Heartbeats Might Change the Way You Think About Money a TED Talk by Preet Banerjee
Prior generations hated debt; especially debt on depreciating assets. Today we accept it as “normal”. Perhaps even inevitable. The message of this TED talk is that past generations had it right, and we need to start hating debt again. The talk is 14 minutes long and well worth your time.