Jun 15, 2020

You Need a Money Mentor - Launch Personal Finance

Revue

Launch Personal Finance

June 15 · Issue #30 · View online

Personal Finance & Financial Independence
3(ish) Articles, Curated Daily

Talking about money is rude. Or at least that seems to be the conventional wisdom. This money taboo leads to many of the issues that people often have when they start handling their own finances. They were often never really taught anything about it and now they’re afraid to ask anybody for help. We’re (almost) all stumbling around in the dark when in comes to our finances. Eventually, some are able to find the lights, but not nearly enough.

Even if you have managed to get control of your financial life, there are still situations where it would be nice to have an outsiders perspective on the decision at hand.

Wether you’re brand new or an old pro, we all need help sometimes. Today’s first article introduces the concept of a finding a Money Mentor as one avenue towards increasing your financial knowledge.

Money Mentor: A Trusted Financial Companion - One Frugal Girl

www.onefrugalgirl.com – Share

What is a money mentor? A money mentor is a friend, family member of coworker who openly talks about money matters, sharing financial ideas and knowledge.

The psychology of money is a frequent topic of articles featured here. As I’ve mentioned before, the math behind personal finance is relatively straight forward. The real challenge is understanding your psychological approach to money. The next article takes a look at a number of common biases that can impact how our financial lives, even though we may not always notice how they influence our decision making. By better understanding our biases, we can actively fight them and take better control of our money.

Personal finance behaviour - Take charge of your money

takechargeofyourmoney.blog – Share

We’re only human and our personal finance behaviour is often as unpredictable as our everyday behaviour. See how our behavioural bias affects our finances.

Most people pursuing an early retirement strategy wait until they’ve reach financial independence (FI) before pulling the plug on their full time job. However, what would happen if you lost your 9-5 and couldn’t get another full time job before hitting your FI number? Could you find a way to arrange your financial life and still manage to get by?

FIRE Gone Wrong. Retire Early Without Financial Independence - An Exercise - Turtle Investor

www.turtleinvestor.net – Share

FIRE-itis. An imaginary disease that when afflicted, causes the infected to pursue early retirement immediately regardless of their financial readiness. Full-time employment is no longer an option.

Did you enjoy this issue?

In order to unsubscribe, click here.

If you were forwarded this newsletter and you like it, you can subscribe here.