¨ Every
time you fail, you learn what not to do the next time so it is not really a
true failure.
¨ Children
are like “little recording devices;” they assume that what they see related to
money is true.
¨ Fear
is a big motivator of financial decisions: fear of missing out (FOMO) and fear
of not belonging.
¨ Financial
mindfulness involves putting a pause between a stimulus and a response (e.g.,
spending). For example, putting off a major purchase off for a day to think
about it.
¨ When
people are focused on a major problem (e.g., debt), they have less brainpower
to make decisions.
¨ The
FIRE (Financial Independence, Retire Early) movement encourages people achieve
financial independence to live the life they want at a much younger age than
65. FIRE is an individual journey.
¨ No
one will ever see, hear, or share your ideas if they never leave your head.
¨ Focus
your efforts on improvement, not perfection. Do not use someone else’s
measurement of success.