🚨 Are you revenge spending?
Are you falling into a pattern of ‘revenge spending’? It’s not uncommon to feel a little angry or depressed after a layoff, breakup, or global pandemic. These negative emotions can fuel a new habit called “revenge spending”, where money is used to get back at someone or something that wrongs us.
This week we’ve got tools to fight revenge spending, smart investing stuff, and an inspiring story about building a million-dollar business with a little brain science and a lot of ingenuity.
Let’s do this!
Today’s newsletter is 406 words, 2 minutes.
10 money things worth sharing this week
1. We’ve gone from pandemic savers to revenge spenders, which seems a little fun but is terrible for your future financial self. How to stop revenge spending from ruining your life.
2. A scarcity mindset could be fueling a spending spree. Tips to quit emotional spending. I interviewed two behavioral scientists about scarcity mindset on the Cash and Kerry Podcast.
3. Millennials are finding financial success in their 40s, so what’s with the myth of the broke millennial?
4. Meet Jasmine Taylor, she’s a 30-year-old entrepreneur who built a million dollar budgeting business with her savings hack, called “wallet stuffing”. She’s using a brain science quirk called mental accounting to get it done. This is an inspiring story, you’ll love it!
5. “Investing is one of the few areas of life in which amateurs can – and should – outperform professionals.” Want to beat the stock market? Look to passive index investing.
6. Is now a good time to invest? Instead of seeking a simple “Yes” or “No” as an answer, here’s something that’s more helpful by my friend, Andrew Hallam. I interviewed him about being The Millionaire Teacher.
7. New US pay transparency laws prove that underpaying people pisses them off. Companies face a wave of ‘upset’ employees and I’m not angry about it.
8. We try to use our time wisely, but we often waste it. How to Spend Time on What You Value is an episode from the the How to Build a Happy Life podcast.
9. What really motivates us at work? It’s not money, strangely.
10. If you’re human, you likely live with a gap between what you think you spend and what you actually spend. It’s getting worse thanks to inflation. Why it’s now easier to underestimate your expenses and overspend.
Have a fantastic weekend, my friends. And take every opportunity to hug the ones you love and care about.
Love love love,