Money Psychology
Jun 5, 2023
No one deliberately sets out to make bad financial choices. We usually think we are doing the right thing at the time. Even so, all of us make money mistakes and have to deal with the consequences. When a bad financial choice crosses the line into something unethical...
May 29, 2023
Recently a financial professional asked me, “Rick, what is your money script?” I was a bit baffled and responded, “I have well over 100, not just one.” He said, “No, there are only four, and I was wondering which one is yours.” He misunderstood the concept of money...
May 1, 2023
What would you do with a million-dollar windfall? This question was the topic of a survey in a March 28, 2023, article by Jessica Whitehouse in onlinegambling.com, “This is how Americans would spend $1,000,000 in lottery winnings.” Before I read past the headline, I...
Apr 24, 2023
KISS: “Keep It Simple, Stupid.” It’s a catchy phrase, but what does “simple” actually mean? Does it mean to make complex topics understandable, or to not make simple communications overly complex, or to not oversimplify complex topics? Tim Mauer, CFP, author of Simple...
Apr 17, 2023
I recently came across a new survey of personal financial and economic views of Americans done in March of 2023 by NORC at the University of Chicago, funded by The Wall Street Journal. Here are some of the findings I thought were particularly notable. Most of us, a...
Mar 20, 2023
In writing last week about hidden “junk fees,” I ended with a recommendation. Before choosing a phone plan, booking a hotel stay, buying an airline ticket, or making many other types of financial commitments, ask, “What other fees or charges are there I need to know...
