More Money Less Problems 15
Welcome to Vermillion’s More Money, Less Problems, our monthly link roundup.
We comb the internet for fun and important stories about money so that you don’t have to. Want more? Check out our other roundup posts in the series!
Links of the month
The pandemic is doing to credit cards what iTunes did to CDs
The title is a misnomer – credit card accounts are here to stay. It’s the litle plastic card in your wallet that’s been neglected lately as contactless payments and digital online purchases take over.
Married to a Selfish Husband
A very familiar story, and a great read. I would argue the disagreement goes beyond the “spender/saver” mentality and highlights the emotional labor one partner (usually the “saver” but not always) undertakes to keep the family running smoothly. She pays the bills, buys the groceries, sets the kids up for school. She sees money bleeding out of their bank account and rightly worries. The husband, on the other hand, sees nothing and spends freely. Not only that, but he should respect his wife’s desire for financial stability (how she sees it) and just save up what she feels comfortable with. Anything less is a lack of respect for his partner, IMO.
(One Frugal Girl)
How to Find Your Financial Comfort Zone
When we become accustomed to a narrowly-defined standard of living, any variation can feel like hardship. Over time this leads to lifestyle inflation.
(The Simple Dollar)
3 Keys to Building an Emergency Fund
1) Start now. 2) Identify your motivation. 3) Choose the right account.
Confessions of a Former FIRE Skeptic
It’s nice to see some myths dispelled about the FIRE movement.
The Paradox of Thrift While Choosing Financial Independence
Is saving money during a recession harmful to the economy? Probably – but should it be?
Debt Freedom Doesn’t Equal Wealth
Paying off debt won’t make you rich. It’s only part of the equation – and if you have especially low-interest debt (like a mortgage), it might be better to invest instead.
Money actually can buy happiness, study finds
These findings challenge the widely cited 2010 Princeton report that showed raises over $75,000/yr were not associated with increased happiness.
(The Washington Post)
FIRE In This Time
Vicki Robin (one of the authors of the prolific Your Money Or Your Life) gives her perspective on why pursuing financial independence and early retirement in the face of everything we’ve seen this year can be an act towards sustainability.
The Promising Results of a Citywide Basic-Income Experiment
Participants recieved $500/month on pre-paid cards where researchers tracked spending habits. You can see the dashboard of results here!
(The New Yorker)
The Complete Guide to Withdrawing Funds Early From Your 401(k), IRA and Roth IRA
A great walkthrough if you’re planning to retire before age 59.
What is the 30 Day Rule? | Take Control of Impulse Spending
Force yourself to wait 30 days between wanting to buy something and actually pulling the trigger. Saying “maybe later” can help you prioritize and achieve greater results.
Three Reasons Stocks Are Rising
It’s unbelievable, but true. April was the best month for the Dow since the Reagan administration. Despite being on the verge of total collapse, new-home sales and mortgage applications are up. The biggest difference between this depression and the Great one is remote work – an employment caste protecting white-collar workers.
I’m not Gladwell’s biggest fan, but here he talks about relative deprivation theory.
As human beings, we form our self-assessments based on our inner circle, not our standing in the world. This flies in the face of research that suggests we should surround ourselves with aspirational connections (friends we want to be), but there is some nuance to digest.
I would argue that the difference is who you’re competing with versus who you’re collaborating with.
Got any suggestions or stories to share? Let us know in the comments!