Happy Taylor Swift Day, my friends! Today my personal hero turns 34. I’ll be celebrating by listening to her discography on random play all morning and afternoon. But you know what? That’s no different than any other day…
Our first piece today comes from my favorite money blog and it’s about an interesting subject I’ve been thinking about recently. It’s a complicated subject, in my opinion, and there aren’t any easy answers. But Lauren does a fine job of wading through the subject:
Second-hand stuff is more expensive than ever. [Bitches Get Riches] — “In addition to the increased authentic demand for secondhand goods, there’s intense new artificial demand in the form of resellers. If you browse the same secondhand sources frequently, you’ll see this happen all the time. A freecycle dresser gets snapped up quickly, only to reappear a few weeks later with a fresh coat of paint, nicely staged photos, the phrase ‘midcentury modern’ in the description…and a $400 price tag.”
Loss aversion: Understanding and overcoming your fear of letting go. [Becoming Minimalist] — “Loss Aversion, simply put, is our tendency to prefer avoiding losses rather than acquiring equivalent gains. It’s a concept that often appears in conversations around behavioral economics analyzing why people make the financial decisions they make. In economics, it is seen over and over again that for people, the pain of losing is psychologically about twice as powerful as the pleasure of gaining.” [This is me. I can’t get rid of anything in my life because of loss aversion. It’s a real problem. I call it “scarcity mindset”, though, not “loss aversion”.]
It’s okay to ditch financial practices that no longer serve you. [Blueprint for Financial Prosperity] — “If you’re looking at certain practices and wondering if you can give them up, tell yourself you’re giving it up temporarily. See if it has an impact. If it does, go back. If it doesn’t, let it go. Try to build and mold your financial systems to work with your tendencies and is a net positive, instead of trying to force change on yourself to fit your financial systems.”
I was going to add another fun video for you all today, but then I realized my entire recent watch history is watercolor videos. I mean, there are some great watercolor videos out there, if you’re into that sort of thing. But some how I think the target audience for these if very small haha. So, no video today.
But I’ll be back tomorrow to share more great stuff! See you then.