Micawber’s Favorites – June 17, 2017

Here are links to several of my favorite recent personal finance articles:

Most Ordinary Americans in 2016 are Richer than Was John D. Rockefeller in 1916 by Don Bourdreaux at Café Hayek

I enjoyed the fascinating thought experiment suggested by this article: “What is the minimum amount of money that you would demand in exchange for your going back to live even as John D. Rockefeller lived in 2016?” Read the article before you answer as it gives an enlightening description of conditions 100 years ago. This question led to an interesting discussion around our dinner table during a recent Sunday dinner. For the record, no one in my family was willing to trade their middle-class 2016 lifestyle to live as the wealthy did 100 years ago. Another interesting question is, “What would you miss the most if you did make the trip back in time?”

Money Can’t Buy Me Love (But It Can Buy Me Time) at the First Habit Blog

I love exploring the relationship between time and money and this article provided several interesting insights on the topic. For example, “Money is Stored Energy…Each time you see a dollar, imagine that it’s a charged battery. You spent your time to produce something of value, and now that value is stored in the dollar ready to be converted back to life energy (time).”

Yes, Numbers Matter in Money Decisions, but So Do Emotions by Carl “Sketch Guy” Richards at the New York Times

The “science” of economics is based on the theory that we all behave rationally when it comes to money, which of course isn’t true. The field of behavioral economics admits this isn’t true, but for the most part thinks we would be better off if it were true. Richards takes it a step further in this article, arguing that, in certain situations maybe our irrational emotions should be accepted rather than inhibited. At the very least they should have a place at the table and voice in our financial decisions. This is another great article by fellow Utah resident Richards, who is one of my favorite financial writers, and whose articles always make me look at things from a different perspective.

Jeans Made to Look Like You Work Hard So You Don’t Have To by Mike Rowe

I am a big fan of Mike Rowe and a big believer in his mission to promote the vocations as not only necessary for the progress of America, but as a rewarding (both financially and otherwise) alternative to college. I once heard Rowe state, “To make America great again, we need to make work cool again.” In this article he mocks some $425 dollar jeans that completely miss his point, making it cool to look like you work hard while avoiding the actual work. Not only do I love Rowe’s message, but his writing always makes me smile while also teaching me something.

Money Jokes for All by J. Money at Budgets are Sexy

Money is a serious topic, but that doesn’t mean we can’t have fun with it. I enjoyed these money jokes provided by my friend J. Money. My favorite was the one for politicians. What was your favorite?