Skip to content

Why you shouldn’t offer financial advice.

Howdy, folks. It’s Friday and we’re back with more of the best from the world of personal finance.

Yes, yes. It’s true. I forgot to collect links yesterday. What can I say? It happens. My only excuse is that we’re still in the throes of our homeselling experience. But hey. I’m here today with fresh stories, so let’s dive in.

Why financial strain is so harmful to your health. [GQ magazine] — “There’s an American myth about the distaste we have for talking about money. People who seem to have enough of it, they’ll talk about addiction, politics, problems with their families, but they won’t talk about money. But what I find is that when you don’t have a lot of money, you’re thinking about it all the time, and you’re also talking about it with everybody around you.”

The expert guide to making clothes last forever. [The Guardian] — “De Castro, 54, is an activist, a lecturer, a former designer and a co-founder of not-for-profit movement Fashion Revolution. With the release of her book Loved Clothes Last, she has also become a kind of anti-Marie Kondo. She advocates ‘radical keeping’, not decluttering. ‘The only antidote to throwaway culture is to keep. So I am an obsessive keeper,’ she says.”

Am I the asshole for revealing our net worth when my wife constantly says we are broke. [/r/AmITheAsshole] — “The same conversation has come up numerous times about us being broke. Recently, I reminded her numerous times it makes me feel and look bad in front of friends and family. I told her if she keeps saying stuff like that I will reveal that we are doing well with money…At a dinner with her sister and parents the same I’m broke story came up. I piped in and said, ‘It’s weird to hear a millionaire say they are broke.'”

Why you shouldn’t offer financial advice. [Money Ning] — “The only time you should give out advice is when someone specifically asks you for it. Otherwise, you’re wasting your breath. No matter how much you think a person needs your help, they’re not going to change until they are ready. And that’s out of your control.”

And to finish the week, here’s a seven-minute video from the Business Insider channel on YouTube. It’s all about why gongs are so expensive.

Honestly, I’d never considered the price of a gong. And I certainly wouldn’t have guessed that quality gongs would cost tens of thousands of dollars!

Yes, it’s an esoteric topic, I know. But the video is interesting. Trust me.

And that’s it for this week. We’ll be back on Monday with more of the best from the world of personal finance — and beyond. See you then.