The 7 Personal Finance Articles We Loved This Week
Hi all! Filling in for Holly this week and hitting you guys with the seven personal finance articles we loved. J. Money pulled together a great batch of articles this week, my favorite of them being the read about how to have a financial “treat day.”
For me, growing a business like this one inevitably meant there were some leaner months in the beginning of the process; And, there were a lot of things I wanted to buy but knew I should be “good,” and rein in any excess spending. But, then a check would come, and I would feel justified in buying the things I wanted (but didn’t always need) because I felt I “deserved” them for having waited so long. This was a slippery slope because it could have developed into a reward system mentality based around purchasing material things, which I know in my head doesn’t typically provide long-term happiness. I’m much more satisfied and sustained when I spend on experiences, like seeing shows, eating dinner with friends, and traveling.
As I read through the cheat day article, I found that I related to that feeling of wanting one day where I could buy whatever I wanted and indulge without feeling ANY guilt. This desire is one that the author acknowledges before she dives into her “rules” for having a cheat day. She says there is a way to buy what you want in a responsible way, and she provides tips for “cheating” in moderation (which is key to living a balanced lifestyle). She writes, “You can set limitations. Having a cheat day doesn’t mean you’re going to ingest 10,000 calories or spend $10,000. It simply means that you can finally do something that you’ve been craving.” The idea of giving in and buying something that you have been “craving” is the same concept as dieting — if you go too long without indulging, when you finally do end up eating something unhealthy, you have a higher risk of “binging” and losing control. The article is a really interesting read that explores the fundamentals of being financially responsible while still satisfying the need to “treat yourself.”
Anyway, give them all a read and let me know what you think in the comments section! Have a wonderful rest of your week =)
*****
1. The Definitive History of The F.I.R.E. Movement
(This is a REALLY cool, but also SUPER LONG article we need to review and fix up… I’m going to start it now and see how far I get and then turn it over to you probably tomorrow sometime 🙂 so stay tuned!!)
2. Can We Have a Financial Cheat Day, Please?
“You can plan for your cheat day, just as you plan for emergencies that haven’t happened. You can open a savings account that’s just for “days you need to shop for yourself” and go nuts when the time comes.”
3. My Vow of Financial Celibacy
“The day-to-day number crunching that I have become addicted to is making the entire journey less enjoyable… I will not check my balances until May 31.”
“What if someone asked, “Why do you hate money?” every time they saw you with a frivolous purchase?”
5. The One Expense That Makes You A Chump
“If you think renting a storage unit appeals mostly to the average Joe, think again. As if owning 14 homes—including a French chateau, and a yacht does not provide him enough space, Johnny Depp keeps his private jets and Hollywood memorabilia in 12 storage units.”
6. What Could You Do With An Extra $35,000?
Dividends are the “show-me” of investing. I don’t want a company to tell me how profitable they are; I want them to show me via real-life cash money in my hand.”
7. The Best Gift My Emergency Fund Has Ever Given Me
“There will come a day where you will wish you had money for something, and savings gives you an incredible gift: options.”
Image via Unsplash
