Rise and shine, money nerds! It’s Thursday and time for some more top money stories. Today, we’re turning our attention to the psychology of money.
What your relationship with money reveals about you. [Psychology Today] — “Even if we spend countless hours thinking of ways to make more money, we may not give much thought to how we relate to money. But when you pay attention to your relationship with money, you can gain some important insights into yourself.”
The benefits of choosing to live life on “hard mode”. [Financial Mechanic] — “The thing about ‘hard mode’ is that you get better at playing the game. Every time you DIY, roll up your sleeves, and figure out something that you may be tempted to outsource, you gain more skills to use in the future.”
Financial independence does not equal success in life. [Tawcan] — “At the end of the day, it’s not about how much money you make, it’s not about how big your house is, it’s not about what kind of car you drive, it’s about the relationships that you build and the impacts you’ve made on other people’s lives.”
When we started Apex Money, Jim and I had a chat about ground rules.
- Is it okay to swear on the site? (Hell yeah.)
- How many stories do we showcase each day? (Three to five.)
- What’s more important, community or quality? (Quality.)
- Do we link to our own stuff? (Yes, but only if we’d do so if it were written by somebody else.)
Today’s the first day we link to something one of us wrote. It won’t happen often. We promise. Only when we think it’s good enough to share.
Identity economics: Who are you? And how does it affect your spending? [Get Rich Slowly] — “We make our purchasing decisions based on who we are and who we want to be. If we’re not clear on who we are and who we want to be, our choices tend to be arbitrary. They’re spontaneous and not based on anything other than immediate desire.”
When you’re feeling blue, just remember that even stars have their ups and downs:
Lastly, here’s Chelsea Fagan from The Financial Diet with a YouTube video that highlights five psychological tricks to help you get better with money.
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