|
Hello pal,
Last week, a harmless-looking hangnail jutted out of my right pinky finger. It didn't hurt as much as it annoyed me. Thinking nothing of it, I pinched it with the forefinger and thumb of my left hand and yanked it right out. One week after this incident, I was looking to fix the error of my ways. My pinky slathered in Neosporin and snuggly wrapped up in a band-aid, I drifted off to sleep only to have my infected pinky finger throbbing with pain awaken me from my slumber.
All of this for a stupid hangnail that I didn't think much of. A small choice I made as a short-term fix ended up causing me a longer-lasting, more annoying problem. We do this all the time with our finances. An employee chooses not to contribute a cent to their employer-sponsored retirement plan because they're trying to be mindful of their auto-debited expenses. Maybe we avoid setting up automatic transfers into our emergency fund because we assume manually transferring is what being engaged in our finances means?
We routinely spend a little bit outside of our budget here and there because we tell ourselves, “it's only $20.” Then suddenly, its death by a thousand paper cuts, or in my case, hangnails. We think we're making small, innocuous decisions. Sometimes those decisions are made to solve simple problems that don't have foreseeable consequences, and sometimes those little decisions end up causing bigger problems that can wake us up in the middle of the night.
Your favorite financial friend,
Paco
|
|
|
1. 🤓 Why Aren't You Achieving Your Financial Goals (HYG Original from the Archive) This one is all about creating systems and habits so that the little decisions you make will help you rest more soundly because your goals are on their way to being accomplished. 🤓
2. 📜 Women's rights and their money: a timeline from Cleopatra to Lilly Ledbetter (The Guardian) Ancient Egypt afforded women progressive financial rights, ever since it's been, well-- take a look at this impressive timeline.
3. 🌲 Why it’s nearly impossible to buy an original Bob Ross painting (The Hustle) Nelson chalks the crazy prices up to a combination of basic economic principles and social capital.
4. 🧠 How Spending Mistakes Can Be Early Signs of Alzheimer's (The New York Times) Impulsive purchases, out-of-control spending: These behaviors can be early signs of Alzheimer’s disease or other cognitive decline.
5. 📈 Facebook Shopping Scams Have Skyrocketed During the Pandemic (Time) “Scamming has long been a fundamental element of the internet. According to Gallup, one in four Americans is a victim of cybercrime each year, from relationship scams to fake IT support to Ponzi schemes to phishing. Last year, the FBI’s Internet Crime Complaint Center received 467,361 complaints, with reported losses exceeding $3.5 billion.”
6. 🌯 How to Pay Less Taxes- A Very Cute Cartoon (Burrito Bowl Diaries) “It’s like this, if we didn’t put money in pretax accounts the government would take a bunch of it in taxes. That’s no fun. The choice is either a) save it for your future selves or b) let the government take it. Not today, Sam.”
7. 🤓 A bookkeeping thing: Know Your Bookkeeping Options (HYG Original) Last week Jeffrey called our hotline to ask us a question about what his new small business's options are for bookkeeping. So this one's for you, Jeffrey! 🤓
8. 😬 Amazon Driver: ‘There’s a Very Human Cost to Convenience’ (Intelligencer) “It’s really irrelevant if what they’re paying is better than another company. The only relevant thing is, Is it going to pay my bills? I would love to see someone draw up a budget where you can live comfortably on $15 an hour. And obviously, people do it, you know, but it’s a stressful life to make ends meet like that. A lot of people I know at my delivery-service partner are working two jobs. And that’s just ridiculous because our work is worth more than that. [Editor’s note: He earns $18 an hour.]”
|
|
🎧 I spoke with Stefanie O'connell Rodriguez, host of the Money Confidential podcast, about facing financial risks and starting a business. In our talk, we address what you can do to prepare for the fear and uncertainty that comes with the financial risks associated with entrepreneurship—and how Mia (and aspiring business-starters like her) can address those emotions.Listen here, Spotify, or wherever you listen to your favorite podcasts. |
|
The Nerdletter is written and curated by Paco de Leon and a tiny editorial support team. Please consider several ways you can contribute to this important mission –
an inclusive conversation about money, finances, and capitalism for Creatives.
We can't do this work without you.
Thanks for being part of the crew and reading this far. Peace. |
|
|
|
Our home office is located in Los Angeles, California, the traditional lands of the Gabrielino/Tongva peoples. We acknowledge with gratitude the traditional custodians of this land and pay our respects to their Elders, past and present.
|
|
|
|
You received this email because you subscribed to The Nerdletter, a weekly newsletter.
You can unsubscribe at any time. Or, you can buy some sweet merch here.1920 Hillhurst Ave # 1089, Los Angeles, California, 90027, United States of America ©The Hell Yeah Group 2021
|
|
|
|
