My wife and I recently ran the 13-mile Chicago half marathon. For us, it was the accomplishment of a very challenging goal. Over the past 10 years, we had never run anywhere close to that distance. As we trained for the event, I noticed a lot of similarities with pursuing a tough financial goal like […]
Archive | Psychology of Money
How Much Would It Take To Feel Rich?
CNNMoney.com recently posed that question among a random sample of people and financial advisors. Most people based their answer on an overarching objective of having enough money so that they would not have to work. Individuals said that would require anywhere from a couple thousand dollars a month to a billion dollars. Advisors put the […]
Is an iPad a Luxury or Necessity?
An Internet connection. An annual vacation. The financial freedom to shop for birthdays and other special occasions. Are these essentials or luxuries? For many of today’s baby boomers, they are essentials. According to a survey conducted by MainStay Investments and reported by MarketWatch, 84 percent of boomers consider an Internet connection a necessity, 66 percent […]
Still Stressed About Debt
Americans are paying down their debt, but that hasn’t eased their stress. Some 46 percent of American adults say they are stressed about their debts, according to a new Associated Press-GfK survey. That’s about the same as last year. Those feeling the most stress are women, married couples, people age 30-44, and the poor. Key […]
A Lesson from Tiger’s Tale
What Went Wrong? I’m not usually much of a celebrity gawker. But I have to admit that I have been completely drawn in to the sad story of Tiger Woods’ “transgressions.” Golf is my favorite sport and I have spent many a Sunday afternoon watching Tiger achieve yet another impressive victory. He is unlike any […]
One Simple Word
Do you find it more difficult to feel thankful this year? Even if you still have your job, you probably know someone who has lost his or hers. Or have the tough times made you more aware of and thankful for some of life’s simple gifts? We have felt the pain of financial loss this […]
The Heart of Simple Living
“I do want to point out, friends, that time is of the essence. There is no time to waste, so don’t complicate your lives unnecessarily. Keep it simple — in marriage, grief, joy, whatever. Even in ordinary things—your daily routines of shopping, and so on. Deal as sparingly as possible with the things the world […]
Curbing Your Enthusiasm to Spend
Spending money wisely takes more than a budget and a stack of coupons. It takes some self-knowledge. A good article on Oprah.com highlighted several ways to keep our emotions from trashing our finances. For example, researchers have found that when we run up big tabs on a single trip to a single store, which can […]
Choosing What to Take In
“Finally, brothers, whatever is true, whatever is noble, whatever is right, whatever is pure, whatever is lovely, whatever is admirable—if anything is excellent or praiseworthy—think about such things.” – Philippians 4:8 Right after our five-year-old watches a DVD, he’s often eager to act out whatever he saw. If there was singing on the DVD, he […]
Sleeping Well During the Recession
If you’ve been losing sleep over your finances, you’re not alone. According to a new survey, more than two-thirds of people say money issues are keeping them up at night. As reported on the Walletpop blog, more than one-fifth of respondents blamed credit card debt for the dark circles under their eyes. A prime cause […]