Money Psychology
Aug 15, 2022
“What is true about money?” A flippant answer to this question might be something like, “That I ought to have more of it.” Going a little deeper, however, we can come up with a list of characteristics, truisms if you will, to describe what money is and is not. Some of...
Aug 1, 2022
Last week we explored one type of money belief, an unconscious vow of poverty that can lead to self-sabotage and harmful behaviors around money. But what about those, like members of some religious orders, who consciously make vows of poverty? Does that also lead to...
Jul 25, 2022
If you’ve ever lived in real poverty, struggling to meet your basic needs for food, shelter, and clothing, it’s almost certainly not a “lifestyle choice” you would voluntarily opt to return to. If you were to ask people who are living in poverty whether they would...
Jul 18, 2022
What is financial wellbeing? A researcher based in Berlin recently asked me that question. I had a bit of a struggle answering, in part because I write and talk a lot about what financial wellbeing is not. One straightforward definition of what financial well-being is...
Jul 11, 2022
“Just think positive, and everything will turn out fine.” “Preparing for the worst just opens the door for bad things to happen.” “Oh, I’m sure it’s not that bad.” Statements like these are examples of financial denial. Denial—ignoring the reality of a situation in...
Jul 4, 2022
I’ve been warning against speculating in crypto currencies since 2017. Any currency typically has no place in any conservative investment portfolio. That is doubly true for digital currencies. They need to be approached in the same manner as any risky speculation....
