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Why Economic Uncertainty Doesn’t Matter

I very rarely follow much of the financial news these days beyond reading a few emails, just too many things to get worried about!

When you are investing for the long term, being aware of the big news stories is great but don’t let it impact your behavior. I learned during Covid that the news was negatively impacting me and made a conscious effort to reduce how much I was consuming. It definitely improved my mental health!

Why Economic Uncertainty Doesn’t Matter [Mile High Finance Guy] – “While recessions are terrifying to someone too caught up in the moment or with a limited understanding of the economic cycle, they are temporary. If you fail to realize that this downturn and uncertainty will pass and give way to a future with renewed prosperity, you will surely panic too!”

The Road Trip – What Almost Everyone Gets Wrong On the Journey to FI [Money Flamingo] – “Today I invite you to do a little thought experiment with me. It reveals what most people get wrong on the path to FI. It will also tell you a lot about your own journey to Financial Independence.” A good discussion of the pitfalls of focusing on the wrong things in your FI journey (tip of the cap to Womens Personal Finance for finding this one!).

How “saving” money leads to debt [Thursday Evening Money] – “One of my early finding when building christmas club was understanding how people use and translate the word “savings” when referring to money. I talked with a dozen people who live paycheck to paycheck and asked them, would you consider yourself a good saver? Almost all say yes. And then, I’d follow up asking, why do you consider yourself a good saver? And here’s some answers that I got.”