Apex Money Posts

Good morning, money nerds. Welcome back. Once again, Jim and I have collected some of our favorite stories about money (and related subjects) to share with you.

The ten biggest money mistakes. [Of Dollars and Data] – “Because mistakes are not only the foolish things that we do, but also the reasonable things that we don’t do…I’ve compiled a list of the 10 biggest money mistakes that I see people make, with an emphasis on the dumb things we do and the smart things we don’t do.”

The ten biggest money mistakes — analyzed. [Lazy Man and Money] — “There was a Twitter thread that went viral (for money conversations at least) about money mistakes that caught my attention. It caught my attention because everyone agreed that it was very good. I agree that it was very good too. However, I thought that each mention of a money mistake had a lot more nuance that deserved a deeper look.”

Framing a reward is as important as the reward itself. [Nir and Far] — “[Loyalty programs] typically attract customers by offering better prices or superior products…Yet focusing on what a customer can acquire, instead of the time and money they’ve already spent, could be one reason these programs are ineffective. The trick is not strengthening the link between use and loyalty with better deals. It’s reinforcing the perceived relationship between use and loyalty.”

Thriving residents lead to thriving cities. [Urban Institute] — “The economic health of cities and communities depends on the financial health and stability of their residents…Families with a savings cushion as little as $250 to $749 are less likely to be evicted, miss a housing or utility payment, or receive public benefits after a job loss, health issue, or large income drop. Higher savings levels are associated with even lower hardship and benefit receipt.”

Why you should carry renters insurance. [Consumer Reports] — “Millions of Americans have discovered the benefits of renters insurance. Because landlords aren’t liable for any personal possessions or activities in your apartment, these policies can provide an important safety net if something happens.”

And today’s video is a 13-minute clip highlighting life lessons from three hundred-year-old Brits.

I’m always fascinated by studies of longevity, even when they’re anecdotal and informal like this. I feel like there’s a lot to be learned from folks who manage to enjoy long, rich lives.

Speaking of which: I’ll be back tomorrow with more stories to help you enjoy a long, rich life. See you then…

Today is Tuesday, money bosses, and you’re at Apex Money. You won’t be surprised to learn that we’ve collected some of our favorite recent money stories to share with you. Let’s dive in!

How do women invest? [Morningstar] — “A complex set of factors contribute to the lifetime income gap between men and women–notably, the fact that women are much more likely to serve as caregivers for children or elderly parents than are men.”

The secret to happiness. [Retire by 40] — “Focusing on the positive things in life made me a happier person. I have good memories and I expect good things to happen in the future. I act happy and I am happy. Even if something bad happens, I know I can push through it.”

Fifty reflections on life and money after turning 50. [Retire by 45] — “Here are some of the most important lessons I’ve learned over the past five decades. They’re in no particular order, but I’ve divided them into different life categories to make them easier to digest.”

A simple compliment can make a big difference. [Harvard Business Review] — “There is ample evidence that giving someone else a boost, whether giving compliments or expressing gratitude, has a mood-lifting effect and contributes to well-being. This means that everyone benefits — givers and receivers alike.”

To close things out today, here’s a three-minute video about garbage collectors in Ankara, Turkey who have built a fully-functioning library out of books they’ve found in the trash.

That’s awesome! And so are you. Come join us again tomorrow for more awesome stories about money and life.

Hello, money nerds, and welcome to another week. We’ve got some good stuff lined up for you, starting with these money stories from around the web.

A list of 50 money blogs by women. [Invezz] — “International Women’s Day lands on March 8th, and we thought it was about time we put together this list of the best financial websites and investing blogs created by women. Finance is still a world dominated by men and these websites are all part of a movement to change that.”

The art of looking closely. [Craig Mod] — “What’s wild about focused attention is that the act of observation is implicitly timeless. A little dose of time travel. To look closely you must be present. And the more present you are, the more you move outside the boundaries of time.”

The pros and cons of eliminating income tax. [/r/NeutralPolitics on Reddit] — “What are the pros and cons of eliminating the individual income tax in the U.S.? What evidence exists that suggests the effects of eliminating income tax would have on a financial, political, and individual level? Has this happened anywhere before? If so, what were the results?” I found the responses to this question interesting and nuanced.

How to read more books. [A Journey We Love] — “I’ve always been an avid reader, averaging around 20 books a year from 2011 to 2019. However, 2020 was my greatest year so far. It was the first year that I’ve crossed the 50 book mark, reading 55 total books for 2020…o what did I change in 2020 and 2021 to get to read more? I did not get more time in the day compared to everyone else. In fact, I had less time in my day as the baby is now a toddler and needs more supervision and activities.”

Lastly, here’s a fascinating six-minute video about how highways make traffic worse.

I’ve been aware of this paradox for years now. It’s bizarre. You would think that adding highways and lanes would reduce traffic congestion. But it doesn’t. Adding capacity just makes things worse.

That’s all I have for you today! I’ll be back tomorrow with more fun stuff. Join me, won’t you?

Today’s installment of Apex Money is a little different. Generally speaking, Jim and I don’t like to engage in promotional activity — especially not self-promotional activity. Today, we’re making an exception.

You see, I spent the past couple of years researching, writing, and recording a project with Audible and The Great Courses. It’s a ten-part, five-hour overview of financial independence and early retirement. In many ways, it’s a culmination of my life’s work.

If this appeals to you (and you’re an Audible subscriber), check it out: How to Achieve Financial Independence and Retire Early.

And since I’m promoting my own stuff, it’s only fair to promote something of Jim’s right? I know I’m biased because he’s my friend, but the dude does great work over at Wallet Hacks. For instance, I thought his recent article on buying your first home was fantastic. It’s good not only for first-time homebuyers, but for all homebuyers. (Seriously. This week, I’ve been dealing with our crummy house — the fourth one I’ve purchased in my life — and I wish I’d heeded some of Jim’s advice before buying.)

I don’t want to spend this installment solely on self-promotion, though. Let’s finish the day by promoting the work of others!

The Daily Grower is a curation site devoted to homestead and farm stories. Apex subscriber Randy Kleinman aims to gather the best info related to small-scale food production and share one article each day. I love the site, which features articles on topics like fermentation, goat behavior, and growing your own spices. I’ve added it to my news sources!

Finally, All-Star Money is the new curation site from J. Money, founder and former owner of Rockstar Finance. When Rockstar stopped publishing, Jim and I were inspired to start Apex as a way to fill the void. Well, J. Money is back. He’s collaborating with The Motley Fool to bring us three new articles every day. Yay!

And that’s it for our first-ever promotional installment of Apex Money. It’ll probably be another two years before our next episode of self-promotion haha.

Hey hey. Today is Thursday, if you’re keeping track. And, of course, this is Apex Money, your source for fresh money links. Let’s see what we have for you today…

A false sense of purchasing power. [Becoming Minimalist] — “It is helpful to recognize that the temptation to take out credit based on income (rather than wealth) can be detrimental to our long-term financial health. It allows us to spend money like the wealthy, even though we are not.”

The secret, essential geography of the office. [Wired] — “I keep reading that the office era is over — that our pandemic has proven that ‘office culture’ is an oxymoron. When the virus hit we left our desks and threw away our commutes, and now no one can tap our shoulders (or, much worse, massage them). And aren’t we better for it?…But I don’t buy this.”

Building a rich life. [ESI Money] — “You don’t want to be rich. You want to be happy. You’re not after wealth for the sake of wealth. You’re after what that money represents: freedom, fulfillment, and a Rich Life. Money itself is a means to an end.”

Lessons from watching food-truck videos. [Financial Panther] — “I find food truck owners to be an interesting group of people. They’re extremely passionate about what they do. They work harder than almost anyone I’ve ever seen. And, the thing I really relate to, these food truck owners value control and autonomy over their lives more than anything.”

And to finish today, here’s a fun video from Guinness World Records. It’s the most tricks performed by a cat in one minute.

The only trick my cats will do is “beg for fish treats”. (Well, that’s not really true. They’ll also “cry to go outside”.)

Any my best trick? My best trick is that I’ll be back tomorrow to share more money news with you all! See you then.

Welcome to Wednesday, my friends. We’ve got some money links for you. Are you ready?

Today, let’s lead with our video feature. From His and Her Money, here’s a 43-minute interview in which one wife describes how she got her husband on board to become debt-free. Good stuff, right?

How to do the things you keep avoiding. [Raptitude] — “The Cloud is not the Task, but from a distance it appears to be. The Task is what you have to do. The Cloud is all the immaterial, psychological stuff that condenses around a Task when you’re thinking about it without doing it. It’s a byproduct, made of intolerable, insoluble problems that aren’t really about the task, like self-doubt and the pain of past mistakes.”

Positive feedback loops. [Zen Habits] — “Negative feedback loops will cause us to not do the activity. Positive feedback loops will cause us to stay with it for much longer. Think about the design of your plan to change your behavior: is it designed to give you positive feedback or negative feedback? Most people ignore this component entirely.”

Why four women decided to downsize their homes and declutter their lives. [Real Simple] — “Meet four women who decided to live a downsized life, from an interior designer who realized she wasn’t using half of her house, to a podcast host who wanted to finally stop being a messy person. They share their motivations, strategies, and challenges—plus the rewards of their newfound simplicity. Here’s what happened when they decided to live with less.”

That’s it for Hump Day. Join us again tomorrow for more of the best from the world of personal finance!

Good morning, y’all! You ready for a plate of piping hot personal-finance links to go with that cup of coffee? Good. You’ve come to the right place. Dig in!

An introduction to ugly produce delivery services. [The Fioneers] — “I [finds] these services appealing for two reasons. First, these services ship the produce directly to your house, compared to a CSA that typically requires you to pick it up from a central location. The ugly veggie services also provide the option of customizing the size of the box you want and the products inside. CSA shares provide a lot of food, and I wasn’t sure that we could use it all.” Kim just told me about these services last week!

An illustrated guide to bitcoin. [The Hustle] — “At this point, nearly everyone has heard of bitcoin. But many folks still don’t quite understand how the currency is created…In this illustrated guide, we’ll cover the following: how bitcoin is created (a process called mining), how the economics of mining have changed over time, the effects this process has on power consumption.”

“I ditched texting and picked up the phone.” [Outside magazine] — “I thought that I’d wind up among the ‘enlightened’, a digital ascetic who prioritized attentiveness above all else. Instead, I’m grateful for the many avenues of connection out there. Sometimes the facelessness of a text can be a balm, just like the connectedness of a call.” I’ve been experimenting with more phone calls in 2021. So far, I like it.

To close things out today, here’s a video I love. As you may or may not know, you used to be able to buy complete kits to build your own home from Sears. These kits were affordable and popular. Well, here’s a TV news story that profiles an entire neighborhood in Carlinville, Illinois built from Sears homes.

Love it!

Okay, that’s all for Tuesday. I’ll be back tomorrow with more awesome stories. See you then.

Why, hello my friends. It’s been a few weeks since I’ve had the pleasure of posting at Apex Money. You see, my neighborhood got clobbered by a rare Oregon ice storm, which meant we lost power for nine days (and internet for eleven). Thanks to Jim for covering for me last week. Now, at last, things are back to normal.

That means it’s time to dive into some of the best money stories from around the web. Let’s do it!

Strangers took in a delivery driver for five days after she was stranded in the Texas storm. [CNN] — “The couple said they were not going to let Timmons sit out there in the cold. Daytime turned to night and soon dinner was upon them. It was Valentine’s Day and the couple made steak with blue cheese, broccoli and a salad. It was a much better meal than Timmons imagined she’d be getting that night, she said.”

Tracking down a mentor from 40 years ago. [No Mercy/No Malice] — “Forty years later, I was 13 again with a generous man who makes me feel less invisible. Approaching his 70th birthday, Cy was taking stock of his blessings, getting remarried, and considering selling his business and easing into retirement. In my fifties, I’m also taking stock of my blessings, and trying to repair my deficits. Life is so rich.” This story starts slow but ends well.

The market value of my father. [Wealthsimple] — “When the novelist Joshua Ferris’s family blew up, his mother revealed a truth: his father was worthless, a con man. A bad investment in their lives. But years later, a mysterious book about Wall Street showed up—a gift from his father—that began to change the story.”

An ode to low expectations. [The Atlantic, so possible paywall] — “Strive for excellence, by all means. My God, please strive for excellence. Excellence alone will haul us out of the hogwash. But lower the bar, and keep it low, when it comes to your personal attachment to the world…If you can get a buzz of animal cheer from the rubbishy sandwich you’re eating, the daft movie you’re watching, the highly difficult person you’re talking to, you’re in business.”

Finally, this investment calculator at calculator.net is a handy tool for playing with all sorts of parameters related to an investment plan. The calculator includes tabs for modifying contributions, return rates, starting investment, final balance, and more. Nerdy but fun.

Okay, that’s it for my first day back from winter “vacation”. I’ll see you tomorrow with more of the best from the world of personal finance…and beyond.

What happens when the largest stunt school in the world puts out a highlight reel of what its students can do? You get this. (a lot of the footage, if you’ll notice, comes from a drone flying around the school!)

Now that you’re fired up, watch this video and don’t cry:

I’m not crying, you’re crying!

Finally, to fire you off into the weekend, here is a collection of videos that Vimeo has considered the videos of the year. They’re all short (a few minutes), and my favorite was the Nike commercial You Can’t Stop Us but this one, Facing It, really makes you think:

One of the positives (specifically for us) from the pandemic is that we’ve developed a little workout group with some of our friends. These are friends we’ve known for years, vacationed together, etc; (so we’re already close), but we haven’t all been on shared group threads talking about fitness (and other random topics) like this.

It turns out that sharing experiences, even if you aren’t near each other physically (we are spread out across the Eastern United States), can bring people closer:

Sharing experiences, even from afar, can bring people closer [Chicago Booth Review] – “But we also prefer to experience separate events, good or bad, at the same time, suggest University of California at Los Angeles’ Franklin Shaddy and University of Florida’s Yanping Tu, both recent graduates of the Chicago Booth PhD Program, and Booth’s Ayelet Fishbach. For example, knowing that your friend is having a root canal on the same day as you may make it feel like a shared experience—and make it a little easier to handle.”

For the month of February, we’ve been doing the same core exercises (courtesy of Matty Maggiacomo) and we’ve reveled in our shared misery together.

“Fake Famous” and the Tedium of Influencer Culture [The New Yorker] – “A new documentary follows three nobodies who are trying to become social-media famous, which involves buying followers and staging photo shoots in a kiddie pool.”

How Marketing Changed the Way We See Avocados [Scientific American] – “Once upon a time, Americans didn’t know what to do with “alligator pears.” Now we can’t get enough” Alligator pears!