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Psychology


Last Thursday, I drove to the place that was my home for four formative years of my life, my undergraduate university. I’ve written before about how the degree and overall course of study during college isn’t directly related to what I do today. Nevertheless, I still feel strongly about the importance of music and arts education.

I’ve been distracted away from this passion for many years; some bad experiences in my career in the non-profit and educational worlds led me to explore a different vocation. And then, as Consumerism Commentary began to grow as my “side job,” I pushed some other passions aside. At the same time, I haven’t maintained many connections with friends and professors from my time at the university. I was to be more involved, and today, I’m in a position to do so.

After a drive that brought back some memories, I found myself on campus, enjoying a tour arranged and led by a director of development. I’ve been a financial supporter of the university for several years, so I knew the purpose of this friendliness, including the opportunity to meet with the chair of the department and the dean of the College of Arts and Sciences, was primarily financial. More came out of it than I expected.

The director of development used the phrase: “time, treasure, and talent,” which although I had never heard this before, it seems to be a common way to describe charitable endeavors. For instance, I agreed to visit the campus again and speak to students in a new entrepreneur track at the university about my experiences.

It was on the drive home that I was struck with another idea about money systems. I passed an area on the interstate highway that I became closely familiar with over a decade ago. My new-to-me car, a grey 1986 Toyota Celica, broke down at that spot on the highway. I was working near campus after graduation, and it might have been when I was driving back to my parents’ home for vacation. And it might be misleading to say, “The car broke down.” It would be more accurate to say, “I broke the car.”

No one explained to me that in order to maintain a vehicle, you need to check and maintain the oil level. This is a basic rule of operating a car, and every driver should know this, but I didn’t. I could blame my dad for never telling me; maybe he did, and I didn’t remember. The 13-year-old car was a graduation gift, so I was just thankful to have something to drive. I didn’t ask the right questions, such as, “What is everything I need to know about owning and operating a car?”

A habit is a system, and asking questions until you understand everything is a habit.

Create a habit of asking questions.

I’m the kind of person who needs to know as much as possible about a topic that interests me. As a kid, I used to read the World Book Encyclopedia collection my parents had in our house. Today, if I read or hear something that leaves me with more questions, I search for more information online. If I read a word and I’m not confident about my understanding of the definition, I’ll look it up. When someone I respect sees success in an area I’d like to see success for myself, I ask for suggestions.

It’s not enough to just ask questions. Get in the habit of asking the right questions — questions that get to the core of the issue. Even if I had asked my father to tell me everything I needed to know to own and operate a car, it’s likely I’d not get all the information I needed right away. It would start a conversation that would lead to follow-up questions, and getting into these details would give me real confidence — not false confidence — that I’m in a much better position for succeeding in my desire to make the car last many years.

The strongest barrier to asking questions is the fear of sounding stupid. Believe me, when friends asked me how I could possibly not know that a car’s motor needs oil to run, I didn’t feel like the intelligent young adult I knew I was. But I got over it, and figured it’s better to ask questions and ensure the knowledge is there than to run into a problem later.

As a result of my lack of inquisition, I needed to come up with several thousand dollars to replace the car’s motor at a time when I was earning very little money and had a growing amount of debt from student loans and credit cards.

The known unknowns and the unknown unknowns.

A few years, ago Secretary of Defense Donald Rumsfeld was defending the administration’s choice to go to war with Iraq. Here is what he said about the evidence:

There are known knowns; there are things we know that we know. There are known unknowns; that is to say, there are things that we now know we don’t know. But there are also unknown unknowns -– there are things we do not know we don’t know.

Putting aside the circumstances that required such a statement, Rumsfeld was getting to the core of risk management. When you ask a question, it’s usually because there is a known unknown, some topic for which you are aware of needing more information. But ask you get into the habit of asking these questions, your increased knowledge can reveal other missing details for which you originally didn’t even know was a hole in your set of knowledge of a topic.

Healthy skepticism.

More classic a phrase than “time, treasure, and talent” is “trust but verify.” When I ask questions, I try to only ask those that the other person in the conversation is qualified to answer unless I’m looking for less-than-informed opinions. I don’t immediately take a response as truth. Depending on the question, the answer might stem from a personal bias.

If I had taken that unasked questions about my car to a mechanically-inclined friend as well as to my father, I might have received two different answers, had two different conversations, and ended up with some confirmed ideas and possibly even more questions.

Healthy skepticism assists your financial condition in more direct ways. When you’re visiting the same mechanic that offered you advice to fix your car, asking questions helps reduce the possibility of being charged for something you don’t need. Asking questions when negotiating a contract or a job can offer you opportunities to earn or save more money than you would have been able to had you remained silent.

The more you get into the habit of asking questions, the better chance you have of taking advantage of good financial opportunities, whether to save money, to earn more money, or just to prevent someone from taking advantage of your ignorance.

Have there been any situations where asking questions has helped you financially?

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The concept of success means different things to different people. Ten years ago, my vision of long-term career success would have been getting a job in a great school district as a teacher, teaching for many years, and having a positive effect on the lives of the students who pass through my doors. Financial success would probably have been staying out of unmanageable debt. My career aspirations changed, and financial success looks much different to me now.

Go back a few more years, and I was in financial trouble. Nothing too devastating, but I had debt, and it was increasing each month due to very little income and moderate expenses. Once that lightbulb goes off and someone who’s in a difficult situation realizes there’s a possibility of life being better must make behavioral changes towards that goal. Whether it’s health, money, personal relationships, or any aspect of life, change can be difficult to accept, start, and maintain.

Psychological barriers get in the way of meaningful behavioral change. At various points in this process of change, people mentally hold themselves back. A recent article by James M. Olson, PhD, published in the Canadian Family Physician, discusses these psychological barriers. While Dr. Olson approaches the topic from a health perspective, they correlate nicely with financial change.

I’ve already written about the psychological barriers to accepting the problem and those for taking the first step. Equally difficult is maintaining change once the process begins.

Recognizing those barriers helps overcome them, so this article may help people who want to change the course of their lives from a financial perspective. Cognizance might not be enough on its own, so I have some suggestions for dealing with each psychological barrier.

Cognitive and motivational drift.

Change can be hard work. Maintaining good financial habits may not be as fun as continuing damaging behaviors, like spending more than you can afford, showing off among your friends, or just trying to keep your appearances up with other people’s appearances. Even some well-marketed methods of getting out of debt, like Dave Ramsey’s Debt Snowball, don’t do enough to address the root causes, and many adherents fall back into debt, sticking to a mindset than never really changed.

One solution is to talk with someone who can be your financial mentor. He or she can take an objective approach to helping you succeed with long-term change. Check in with your mentor once a month to make sure you’re heading in the right direction. This is one reason I love the Naked With Cash series here on Consumerism Commentary. Once a month, the seven participants looking to improve their finances for the long-term check in, reporting their progress, challenges and successes. The experts in the series help them stay on track.

Self-motivation seems to come naturally for some people. When I’m passionate about something, I move. I get things done. It’s not easy to get passionate about personal finances, but perhaps keeping an end-goal in mind, a real goal, not a target net worth, those desiring change can stay focused on making the choices that move them in the right direction.

On the topic of staying focused, everyone who wishes to succeed with behavioral change should write and memorize a mission statement. Non-profit organizations use mission statements to determine what activities to pursue. People can use mission statements as a guideline for decision-making: “How does buying a new car and taking out a brand-new loan fit with my mission of achieving financial independence within five years?”

Lack of perceived improvement.

I’ve been working with a personal trainer now for about three and a half months. Aside from some travel that prevented me from going to the gym on just several occasions, I’ve been working out with an expert three times each week. I expected to see some better results by now. I thought I’d be in great shape and look it, too.

My expectations probably weren’t realistic based on my level of workout. I was starting pretty far from in-shape initially, and my workouts are only thirty minutes. These unrealistic expectations were probably formed by late-night commercials in which those starting a new path towards fitness seem to be successful immediately. My process and my starting point mean that progress for me will be slower.

And although yesterday’s sprints wore me out more than usual, if I can step back, I can see I’m moving in the right direction. I’m stronger and in better shape than I’ve been since college. Having realistic expectations is the first way to battle the lack of perceived improvement.

On the surface, being out of debt looks a lot like being in debt. In order to see the effects of change, especially at the beginning of the process, is to look for it specifically. If I had been taking photographs of myself once a week during the course of my workouts, I’d likely have seen progress in my physical appearance. Physical evidence makes progress more apparent. Likewise, tracking your finances is the best way to see your improvement from month to month or paycheck to paycheck.

Lack of social support.

Don’t keep your goals to change your financial behavior a secret. Money isn’t exactly a fun topic to talk about with family and friends, but you don’t really have to talk that much about it. When faced with a spending decision in front of others who you may feel want to see you make a decision you know isn’t helpful, let them know that you’re on a quest to make some changes. Good friends will be your supporters. Family will understand.

Look for people willing to be on your “team.” You can find social encouragement anywhere. I found some for my quest to improve my finances by starting Consumerism Commentary. I had now idea the site would grow into such a great place for people to motivate me along my path to financial stability. When I checked in with my net worth updates every month from July 2003 to December 2011, I felt like I had a community of friends who were interested in my success.

When my family became aware of my goals, they were all very supportive. So don’t keep your intentions a secret.

Lapses.

It’s natural to slip. There’s nothing bad about giving into the temptation to falling back into old behaviors. If that behavior is a drug habit, well, that can be a problem, and that’s how people die of drug overdoses. Thankfully, people very rarely die of a brief return to overspending. The stakes aren’t that high here — but that’s why people often think it’s not a problem to slip occasionally.

Lapses can be intentional or not. If you’re going to fall back into a bad financial behavior, if you do it knowingly, and you can do it while maintaining control over your financial situation, that’s alright. Rewarding yourself for your financial progress with a vacation on the credit card is an acceptable if not good way to continue your motivation — so that’s not really a lapse. Forgetting to update your financial records can be a dangerous lapse because it wasn’t intentional and shows that the most important feature of improving your finances is not that important to you.

The best way to counter lapses is to be prepared for them, recognize them when they occur, and recover very quickly. This will help create a pattern of dealing with lapses that you will soon be able to do before the lapse even occurs. And document them. For a lapse that consists of a single decision, write down what happened, what you were thinking and feeling when the lapse occurred, and how you solved the problem.

If the lapse was more continual, like gradually falling back into an old habit, reset from the beginning, monitor your decisions closely, and watch for the early warning signs of falling back into that habit.

Maintaining behavioral change with money is a life-long quest. Your finances aren’t something you can just fix one day and forget about it for the rest of your life. Behavioral change continues, but it gets easier to maintain with time. Addressing these psychological barriers can help you move forward towards your life-long goals, live your mission statement, and achieve financial independence.

Photo: Sarah G.
Canadian Family Physician

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There is a link between wealth and happiness, but it’s not that having more of the former results in more of the latter. The Journal of Consumer Research published a study involving a scientific analysis of the link between money and happiness designed and analyzed by researchers at the University of British Columbia, Harvard University, and the University of Virginia. The study indicated there is a direct link between wealth and self-reported satisfaction with one’s life, but no such correlation between wealth and a measurement of happiness.

The study looks at reasons this may be the case, and through a number of investigations, concludes the following:

This suggests that our money provides us with satisfaction when we think about it, but not when we use it. That shouldn’t happen. Money can buy many, if not most, if not all of the things that make people happy, and if it doesn’t, then the fault is ours.

I understand this. When I look at my life objectively, I see I should be happy. I’m financially independent, and I have access to anything I need and many things I want. I am in charge of my daily schedule, and I can spend my time doing whatever I like. Objectively, my life is very satisfying. So why am I not as happy on a day-to-day basis as I think I should be, given these circumstances?

According to the study, it’s because I — and, on average, everyone else — don’t spend wealth in a way that would lead to happiness. Maybe you can relate to this, too. Wealth provides access to many things that can contribute to a happy life, like better nutrition, healthcare, leisure time, and jobs, but these don’t necessarily contribute to self-reported happiness.

The analysis group of studies included in the published paper leads to eight approaches to spending money that will result in more happiness. Some of the suggestions are common-sense approaches to money management that I’ve written about on Consumerism Commentary, while others seem to oppose what financial advisers, planners, and authors present as good money advice. In the coming weeks, I’ll address each of these eight principles more in depth.

1. Buy experiences instead of things.

A few years ago, Laura Rowley, author of Money and Happiness: A Guide to Living the Good Life, was a guest on the Consumerism Commentary podcast. She pointed to an earlier study that showed that happiness plateaued at a household income of level of $75,000. There’s a lot of criticism of this study because, among other things, $75,000 in one location like New York City means something else to a family than $75,000 earned in rural Ohio. The study itself was recently debunked, but some of the conclusions still make sense with the new information.

One of these conclusions is that it’s better to to frame your financial choices in terms of experiences, as Laura Rowley mentioned in the podcast. Experiences create memories that contribute more to happiness than what you might achieve by buying products.

2. Help others instead of yourself.

Anything people due to nurture social connections with others increases happiness, and wealth can be used in such a manner. The study showed that those who spend more of their wealth on gifts for others and on charitable contributions than on bills and gifts for themselves are happier. Not only does prosocial spending affect self-reported happiness, but another experiment shows that the behavior created happiness that’s visible when observing the brain’s neurons.

3. Buy many small pleasures instead of few big ones.

The study uses this example to illustrate this point: “Eating a 12 oz cookie is not twice as pleasurable as eating a 6 oz cookie because the first X% of a cookie’s weight accounts for more than X% of its hedonic impact.” This is one of the reasons why it’s better to take your finite financial resources and spread them out over many things you find pleasurable rather than reaching for the experiences that are the most expensive. While the first principle might say it’s better to go on one $2,500 cruise than buying one $25,000 television, this principle says it’s better for your happiness to go on 50 dinners than one cruise.

4. Buy less insurance.

Most Americans are under-insured. An emergency fund is a type of self-insurance against the likelihood of a short-term financial setback, but this often needs to be supplemented with health insurance, life insurance, car insurance, and renter’s or home insurance. Many people need some form of general liability insurance, too.

These are all good uses of money, even though they might not correlate directly to happiness. But because consumers overestimate how much they’d be affected by a broken object, they’re led to extend the concept of insurance to the things they buy. Salespeople use this apprehension to sell extended warranties for products. Studies show that people are not generally affected negatively when products break without a warranty or generous return policy. If you are told that “all sales are final,” you appreciate the purchase much more.

5. Pay now and consume later.

The societal norm today is to consume now and pay later. That’s the premise of the credit card industry, and we’re lured into that spending behavior with generous cash back offers and other perks. We can delay the pain of parting with our money at the same time we advance the opportunity to consume. Shortsighted behavior results in financial problems in the future, and that’s one reason why the opposite approach increases happiness.

The other reason is that delayed gratification increases anticipation, and resolution of the feelings of anticipation inspire happiness.

6. Think about what you’re not thinking about.

When you daydream about the future, you’re more likely to think about it in abstract terms. As you get closer, whether in time or in physical space, details begin to emerge that cloud your happiness. This is apparent when you’re planning for a vacation. Six months in advance, your trip to Walt Disney World seems like a great idea, but as the time to depart gets closer and the details come into focus, you begin to think about all the frustrations you will experience. Those details, good and bad, will affect your level of happiness when the time comes, more than just the fact that you and your family are at Walt Disney World.

Thinking about those details in advance will prepare you for the future and will help you make better decisions about the future in terms of your happiness.

7. Beware of comparison shopping.

This gets interesting. Comparison shopping is a tool of the frugal consumer. It’s good to make a purchasing decision based on all data available, even if price is just one part of the comparison. Comparison shopping so so popular that there are even sections of Consumerism Commentary designed to help people make decisions about their money. Consumer Reports helps people, too, by rating products within appropriate categories to make informed decisions about spending money.

It turns out that shopping based on comparisons — which focus on how one version of a product differs from another — take focus away from attributes that are more likely to make someone happy. You can use online tools to compare a car’s specifications. Shoppers can determine what facts from among the categories will result in the best purchase, but the factors that contribute to happiness with a car purchase — perhaps the feeling of envy from friends, whether the driver’s seat fits you perfectly, or whether there’s enough room to make love in the backseat — are not listed or not really considered when shopping using a financially responsible, comparison-based approach.

8. Follow the herd instead of your head.

The best way to predict enjoyment of an experience is to see how much other people enjoyed the same experience. Going back to the Walt Disney World example, if more of my friends shared with me, more stories about their enjoyment of the vacation, the more I will enjoy my vacation there. Seeing that others are happy with their decisions increase our own happiness with the same decisions. In an experiment, women predicted how much they’d enjoy a date using two methods. The first was by photograph and biography of their date alone, the second was based solely on another woman’s previous analysis of the date. Those who received the photograph and biography made more inaccurate predictions of how they would enjoy their date.

Is your goal in life to be rich in financial terms only or do you want to be rich in happiness, as well? If you like the idea of living one happy experience after another, then it takes more than just wealth and financial independence. How you spend your money determines whether you’re happy. These principles should help you use your money in ways that are more likely to produce happy feelings.

There is much depth in these principles, so this article is just an overview. Each principle deserves its own analysis. For more information on the experiments conducted that led the researchers to these suggestions for happiness, read the study linked below.

Journal of Consumer Psychology

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Everyone starts their path to financial independence from a different position. The popular belief that everyone born in this country has an equal opportunity for financial success is a Utopian myth. It may be an ideal foremost in early European settlers’ minds as they escaped a society where wealth was determined by little more than birthright, but the playing field isn’t quite as level as some Founding Fathers would have liked. From the moment of conception, all are created equal, but after birth, we are each subject to the environment in which we live. The environment can be toxic if those around us do not place a high value on education, self-efficacy, and positive financial behaviors.

As children, we have little control over the environment and the behaviors of those around us define our attitudes in life, and as an adult, if there’s no compelling reason for change, the cycle will continue for yet another generation, embedding negative behaviors deeper into a social microculture.

If poor attitudes towards money and harmful behaviors approach the point of manifestation, it’s already beyond the point of recognizing the problem. It’s not too late, though. About a month ago, I addressed the psychological barriers to admitting there’s a problem and some thoughts for overcoming mental constructs that get in the way of financial success.

Even after admitting a problem exists — coming to terms with the idea that one is not on the road to financial independence and may in fact be approaching poverty or lifelong debt — the road ahead is a long one. Taking the first step to changing your life is daunting and frightening.

As I’m writing this, I’m reminded of a trailer for a new movie starring Will Smith and his son. I haven’t seen the movie, but the advertisement for the movie includes the actor offering the following advice when faced with difficult challenges for survival:

If we are going to survive this, you need to remember: fear is not real. It is a product of the thoughts you create. Now do not misunderstand me; danger is very real. But fear is a choice.

Now, fear isn’t exactly what prevents most people from saving a portion of their income, curbing over-shopping habits, setting up an emergency fund, and paying off debt. I would guess that the only fear might be the fear of losing one’s money deposited in a bank. The fear is irrational, and there is no real danger. But fear is a mental construct like the more specific psychological barriers that prevent people from taking the first step.

The article by James M. Olson, PhD in the Canadian Family Physician, which I referred to last month, describes these barriers.

Lack of knowledge

Education is always the first step. With “Financial Literacy Month” now concluded it’s a great reminder that learning the facts about money and the appropriate behaviors is not nearly enough to change the way people behave. I’ve written about the lack of effectiveness of financial literacy programs extensively, most recently discussing the virtues of positive financial role models. Guest author William Cowie also recently discussed four invalid excuses preventing people from investing.

On financial literacy, in the last few weeks, the chorus of agreement has gotten louder. Jason Zweig from the Wall Street Journal added his voice:

There is even some evidence that fin-lit classes can make people worse off. One study found that soldiers who had studied fin lit ended up significantly less likely to have systematic control over their household budgets. Another showed that people who had taken a fin-lit class in high school later reported that they were less thrifty, less likely to pay their credit-card bills in full and more likely to bounce a check.

After all, a little knowledge is a dangerous thing: Taking a fin-lit class might well give the least financially knowledgeable people just enough confidence to make them think they can safely take extra risks…

In one Federal Deposit Insurance Corporation survey, nearly two-thirds of banks said they participated in a fin-lit program because it was a way of “taking advantage of a good business opportunity.”

If financial education is not effective or even harmful, how can the psychological barrier of the lack of knowledge be conquered? The reason we turn to financial literacy in schools, non-profit organizations, and free seminars from for-profit entities in the financial industry is because it’s so difficult to impart skills and positive attitudes through the only effective means — being there for children during their formative years, exemplifying the positive behaviors and attitudes and being living examples of the results of these behaviors and attitudes.

I don’t know if there’s an answer to this question that has proven to be effective, but it’s something I’m interested in discovering.

Low self-efficacy

William Cowie described one of the four excuses preventing people from investing as the attitude that causes people to think, What’s the point of investing? I’ll just lose money anyway. There is some truth to this. Unless you invest enough money into a company to be part of the management team or oversight board, you don’t have much control. All shareholders can vote, but it’s rare for any one individual shareholder to dictate the operation of the company. When you invest in a company, you put your faith in management to make the right decisions. When you invest in an actively-managed mutual fund, you put faith in the fund manager to make the right investment choices. When you invest in an index mutual fund, you put your faith in the stock market. There is a lot that is out of the investor’s control.

But you do have control of certain things. You have control over the companies in which you investments. You have the ability to research your investment options, make choices for yourself, monitor your progress, and adjust as necessary. The choices you make have a direct bearing on your investment results, although that might not be apparent until later.

Low self-efficacy isn’t limited to investing. If you are convinced that paying off debt it pointless because you will just return to debt, or if you’re convinced that society has placed you in a situation like poverty or homelessness that is difficult to climb out of, you’re blocking yourself from moving forward.

The choices you make can have a profound impact on your financial health. And while external resources can help you move in the right direction, they only work when you actively pursue improvements yourself.

Dysfunctional attitudes

The Canadian Family Physician article describes two types of dysfunctional attitudes: unfavorable attitudes towards healthy behaviors and favorable attitudes towards unhealthy behaviors.

The second type is easier to describe and understand. Although people know smoking causes cancer and death, smokers do it anyway. Some will never make any attempt to quit simply because it’s a behavior they enjoy. Reasons often go deeper, but harmful behaviors are often fun and activate the brain’s pleasure centers. The idea of owning a beautiful house and driving fast cars is appealing to a lot of people, but if the financial groundwork to support those behaviors isn’t in place, these desires can lead to financial difficulty and delayed or prevented independence.

The other type of dysfunctional attitude usually consists of poor excuses:

  • Budgeting is a tedious chore.
  • Savings accounts earn paltry interest rates, so an emergency fund would actually lose value.
  • Insurance is a financial industry scam.
  • Banks are useless for people in my community.

To overcome dysfunctional attitudes, it takes an external force. When people are genuinely scared for their life, quitting smoking suddenly becomes an easier task; in fact, even the chemical barriers contributing to addiction seem to disappear, and though people speak of it being difficult to quit, the “cold turkey” method is suddenly effective. (Why? The danger, which has always been real, becomes too obvious to ignore.)

The external force for getting over dysfunction attitudes and taking the first step is most effective when it manifests as a serious problem affecting someone’s life. We can try financial education. We can write articles about diligently paying off debt until our fingers fall off, but if someone isn’t ready to hear the message, it won’t break through embedded attitudes.

Like physicians have a role in helping patients overcome their dysfunctional attitudes, financial advisers can play this role. But while everyone has — or should have — a doctor they see regularly, someone who can monitor their progress, relatively few people have a financial adviser to guide them on a personal level.

Another dysfunctional attitude is the belief that making the wrong choice with your money can be worse than making no choice at all. Financial advisers and writers like to argue about things like whether it’s better to use extra cash flow to pay a mortgage off early or invest, but in the end, either choice is better than spending too much time analyzing the possible outcomes.

The first step in the direction of financial independence can be the most difficult. This may be a long article that addresses some of the finer points of what, in a person’s brain, prevents him or her from starting a path to change, but it comes down to will power. When you want something bad enough, you make it happen. To want something bad enough, you have to see the future, one future that looks bright, and another future full of trouble. Some won’t see the future until it’s plainly in front of them. Some need help seeing the future.

The more we can communicate the physical danger of a life making one bad financial choice after another, the more effective we can help others take the first step. And for readers and those who might need to take the first step, consider that the only way to be truly free — free from debilitating stress, free to do what you want, when you want — is to be financially independent, and the only path to financial independence is making a habit of responsible choices with money.

Photo: Flickr
Canadian Family Physician [pdf]

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Psychological Barriers: Admitting There’s a Problem

by Luke Landes
Barrier

It’s difficult to get into this topic without sounding too much like a motivational speaker. I am strongly averse to most motivational training. Here’s my problem: Motivational training, in the corporate world, encourages teamwork — good — but often at the expense of personal identity and independent thinking — bad. The nuances are subtle, though; ... Continue reading this article…

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Your Ego and Your Wallet

by Marc Pearlman
Poker chips

This is an article by Marc Pearlman. Marc is a money management professional who has been in the finance industry over 20 years, and he is the author of The Positive Money Mindset and host of the radio show, Your Money Matters. I watched as these two were duking it out — at the poker ... Continue reading this article…

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