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Author: Plutus Foundation

Fear of (No) Commitment.

Hey Plutus family, it’s that time again. Check out what we have for you this week!

Unclaimed Funds: Look for Them! [Surviving and Thriving] — “You might be owed money. Go look for it! And if you find any, I hope you’ll come back and report it, to encourage other readers.” (Submitted by J. Money.)

Fear of (No) Commitment. [Money by Lisa] —”Some time ago, I read a research article that sought to answer the conundrum, why do some people carry debt when they have the means to pay it off? On its face, it doesn’t appear to make sense to simultaneously have a persistent, interest-accruing credit card or personal loan balance and a better-than-bare-minimum savings account balance. Then again, by now, I think that we all appreciate that financial decisions are about one part math and two parts emotion. So, what gives?” (Submitted by Tarsha.)

21 Life-Changing Minimalist Experiments to Try in Your Home. [Becoming Minimalist]— “Society is constantly calling us to expand and upgrade every area of life: our home, our car, our kitchen, our wardrobe, our technology…. A Living with Less experiment provides us the opportunity to see if there is a more intentional, more focused, better way to live.” (Submitted by J. Money.)

Perfect is the Enemy of Good

Hey Plutus Family, look what we have for you this week!

9 Ways to Teach Your Children About Contentment in a Consumer-Driven World. [Money Savvy Mamma] — “We have access to too much information. We have too many options for what to stream and watch. We have endless podcasts and audiobooks to listen to. YouTube provides us with unlimited videos of everyday experts on every topic imaginable. We can be constantly entertained, educated, enlightened and engaged.” (Submitted by Tarsha.)

Perfect is the Enemy of Good. [A Wealth of Common Sense] — “When it comes to income it’s not how much you make that determines your feelings towards money; it’s how much you make relative to those around you.” (Submitted by J. Money.)

The Best Debit Cards for Kids. [Family Money Adventure] — “Debit cards for kids are helpful financial literacy tools for teaching your children about money management. Cards are typically either tied to a checking account or are reloadable prepaid cards. The best debit cards for kids offer tools and features useful for children to learn money management skills. They also include monitoring and parent-control features so parents can protect their kids from making bad money decisions. There are free debit cards for kids, prepaid debit cards for teens, and other options to choose from.” (Submitted by Tarsha.)

Social Media Is Destroying Gen Z’s Finances

Plutus Family, we hope we did not keep you waiting long. We searched high and low for just the right articles for this week. Please enjoy!

Here’s what we wanted to share with you this week.

How to Organize Your Tax Documents for Your Accountant. [Tucan Dream] — “You have received all your tax slips (w-2’s, 1099’s, etc.), and you have records of your other income and expenses, but now what? How do you organize your tax documents so that your accountant can prepare your taxes with ease?” (Submitted by Tarsha.)

Prepare for the Unexpected Mini-Retirement. [Jillian Johnsrud] — “Life can be unpredictably fragile and short. You just never know. You never know if you’ll have a hundred other chances to experience your dream, or perhaps this is the last chance for that dream. Save the money, make a plan, and when the opportunity arises, grab your go bag. And go” (Submitted by J. Money.)

Social Media Is Destroying Gen Z’s Finances. [A Dime Saved] — “The main reason cited for this was that people are constantly bombarded with photos and videos of others living a lifestyle that is seemingly unattainable. This can lead to feelings of inadequacy and frustration, especially for those who are struggling to get by…” (Submitted by Tarsha.)

It’s Time to Uncomplicate Your Health and Wealth.

Happy Wednesday! Tarsha here from the Plutus Team. I could not wait to post these awesome articles for you to enjoy. So, make a cup of coffee and dive right into them. See you next week!

Here’s what we wanted to share with you this week.

It’s Time to Uncomplicate Your Health and Wealth. [A Teachable Moment] — “It’s rare to find a situation where simplifying lifestyle or financial choices doesn’t result in a better outcome for end-users… The same goes for investing. Trying harder by creating costly complexities is a poor substitute for bare-boned and easy-to-understand investments.” (Submitted by J. Money.)

Top Tips for How to Teach Your Child Responsibility.  [How Much Is That in Tacos] — “Our kids are our world, we want their lives to be so much better than ours ever was. We send them to private schools so they can be smarter than we were. They’re involved in nonstop extracurricular activities to ensure they have physical abilities and the right amount of socialization for college applications.” (Submitted by Tarsha.)

Could You Live in $25k A Year, and Be Happy? [ Money and Meaning] — “My last 30 years were based on three philosophical, environmental, and financial beliefs: spending more money wouldn’t make me happier, spending more money would degrade the environment, and spending more money meant I would have to work more years.” (Submitted by J. Money.)

#14. Knowing Your (Net) Worth.

Happy Hump Day Plutus Family! Thank goodness its Wednesday. So, take a quick break and read these great articles we gathered for you.

Here’s what we wanted to share with you this week.

The Art and Science of Spending Money. [Collab Fund] — “There is a science to spending money – how to find a bargain, how to make a budget, things like that. But there’s also an art to spending. A part that can’t be quantified and varies person to person.” (Submitted by J. Money.)

How To Find a Job That Fulfills You. [Worklife] — “While it’s helpful to get feedback from current and former employees, reviews on sites such as Glassdoor or Yelp might skew overly negative or positive, cautions Trey Barnette, a regional vice president at staffing and talent solutions firm Robert Half. Seek out objective sources, he said, not “an ex-employee that just got let go and is ranting and raving.” (Submitted by Tarsha.)

#14. Knowing Your (Net) Worth. [The Sytch] — “Think of tracking your net worth like the annual doctor checkup. It may not be a necessary step to achieve financial success for some, but if you want to get nerdy with your finances and optimize every dollar, tracking your net worth is a must. Knowing your net worth every year requires you to do a deep dive into your finances. This forces you to diagnose any issues you are having.” (Submitted by Tarsha.)

Failing at Early Retirement.

Hey Plutus Family! Have you ever thought about retiring early, but life brought you back to reality.  Check out this great article, “Failing at Early Retirement”.

Here’s what we wanted to share with you this week.

It’s Time to Work. [Of Dollars and Data] — “Most people don’t get rich through their investment decisions; they get rich through their income. They get rich through their work. Even those who do get rich from their investments, typically, had to work to get the money they used to invest in the first place.” (Submitted by J. Money.)

Experts Say This Is a Key Sign You Have an Unhealthy Relationship with Money. [The Zero Report] — “When it comes to money and budgeting, it’s often easier said than done. You may have the best of intentions — you’ll eat out less this month and put the money into your savings account instead. But then life happens. Just like working through any other life, fitness, or wellness issue, a little introspection is often the ticket. If you want to get your finances back in order, a financial psychologist or money mindset coach can help. It all starts with getting your head in the right place.” (Submitted by Tarsha.)

Failing at Early Retirement. [Go Curry Cracker] — “The idea that earning some income is equivalent to failure for an early retiree is common, but I think it is misplaced. There is no right/wrong or moral weight to the decision to add or subtract dollars from a retirement portfolio, so if something doesn’t feel right and you think work would help… then work.” (Submitted by J. Money.)

Dirty Secrets of Personal Finance.

Good morning, Plutus, Family! We are so excited to start 2023 with you all. Please kick your feet up and enjoy these great articles.

Here’s what we wanted to share with you this week.

Dirty Secrets of Personal Finance. [Emancipare] – “Dividends! Real Estate! Crypto! Gold! Long/Short Options! I-Bonds! Ladders! Alternatives! Credit Card Points & Miles! Day Trading! Market Timing! Guess what – there’s no magic, only illusion. Nobody beats “the market” over time. Nobody.” (Submitted by Tarsha.)

A New Free Tool to Manage Your Asset Allocation. [The Retirement Manifesto] — “The free Net Worth template I created years ago has been downloaded by thousands of readers, but I just made a major improvement.  Now, when you open that spreadsheet, you’ll see a new tab titled “Asset Allocation” that is linked to all of the figures in the net worth spreadsheet.” (Submitted by J. Money.)

Price Changes Over Time, Some Things Have Become Ridiculously Cheap. [Accidental fire] — “Where prices are going to go in the near term is anyone’s guess, but over the longer term I think it’s safe to say that in general electronics and established technology items will continue to decrease. Anomalies such as chip shortages can temporarily disrupt that of course as we saw recently.” (Submitted by Tarsha.)

Top 9 Financial Resolutions for the New Year (2023)

We hope you had a great holiday Plutus Family, but now it’s time to make your New Year Resolution before we enter into the new year. Thank you for being a part of the Plutus family and we look forward to 2023. Happy New Year Plutus family!

Here’s what we wanted to share with you this week.

Top 9 Financial Resolutions for the New Year (2023.  [APR Finder] – “With each new year comes the perfect opportunity to reflect on the progress of your financial life and create actionable goals for the 12 months ahead. While most people focus on saving more money and paying down debt, others place importance on shifting behaviors around money management and increasing their income in an attempt to improve one’s financial circumstances.” (Submitted by Tarsha.)

How to Stop Shopping Impulsively in 2023: 23 Frugal Tips! [No Sidebar] — “Does it feel like no matter how much you work; you can’t seem to stay on top of your finances? The problem may not be how much money you’re making, it may be the rate at which you spend it.” (Submitted by J. Money.)

7 Ways to Develop Financial Trust in Your Relationship.  [Harris Cash Coach] — “If you find that you’re constantly fighting about money or hiding how you spend money from your partner, it may be time to rethink your relationship goals and values. Fighting about money can create tension in a relationship and make it challenging to accomplish future goals. When one spouse gets frustrated with the other, it can seem like you’re on an island all on your own, trying to resolve a difficult situation. How can couples develop and build financial trust in their relationship?” (Submitted by Tarsha.)

Why You Don’t Want to Go Back in Time and Do It Over Again

Happy Holiday Plutus Family. Please take a quick minute and enjoy these great articles.

Here’s what we wanted to share with you this week.

Why You Don’t Want to Go Back in Time and Do It Over Again. [The Wealthy Accountant] – “If you had it all to do again the chances are you would make the same choices. Everything that made you (before the event you wish to change) would be the same. Faced with the same facts and stimulus you are probably going to walk the same steps or nearly so.” (Submitted by Tarsha.)

How Do You Know If You’re Frugal or Just Ridiculous? [The Frugal Girl] — “I think the line between frugal and cheap often comes down to a selfishness issue. When your money-saving efforts affect just you, and they don’t cause harm to anyone else, that’s frugal. When your money-saving efforts hurt or deprive someone else, that’s when you’ve crossed the line into cheap.” (Submitted by J. Money.)

How to Freeze Your Family’s Credit. [Beating Broke] — “About 15 years ago, I discovered someone had opened an account in my name and charged $1000. Luckily, I caught the fraud early, and the business where the theft occurred gave me my money back. However, that experience spooked me, so I froze my and my husband’s credit within days. At the time, parents could not freeze minor children’s credit, but that has since changed. Just recently, I started the process of freezing my younger children’s credit. If you’d like to do the same, here’s how to freeze your family’s credit.” (Submitted by Tarsha.)

I Aspired to Be Poor.

Hey Plutus Family! Hopefully, you can take a quick break from the hustle and bustle and enjoy these great articles.

Here’s what we wanted to share with you this week.

The California Effect. [Mr. Money Mustache] – “Start noticing your own bubble and study the California Effect in your own lifestyle. Where do you see ridiculousness masquerading as normalcy? How can you extract the best of life in your area, while shedding the unnecessary downsides? How can you create an entirely new bubble of normal?” (Submitted by J. Money.)

I Aspired to Be Poor. [Rahkim Sabree] — “3 years later I think about how much my life has changed because of that talk. How many times I’ve been asked what I meant when I said I wanted to be poor. The look and sound of admiration people get when they hear I’ve done a TED talk and how incredibly honest and transparent I was in that moment and continue to be today.” (Submitted by Tarsha.)

The Best Holiday Gift List I’ve Seen This Year. [Maximum Gratitude, Minimal Stuff] — “Each of these gifts equips children and families to change their own lives for a better future. They’re useful, provide decent jobs, and do more than enrich a retailer’s bottom line. If you’re still looking for gifts for your loved ones, you can’t go wrong with these.” (Submitted by J. Money.)