Status Updates From LOADED: Money, psychology, ...

Rule of thumb: if everyone cannot have it at once, it’s a strategy, not a need. Dig deeper to find the real need.

“Especially among people who are not highly financially literate to begin with (most of us), learning rules of thumb has been shown to be a better strategy than learning more complex concepts…Rules of thumb are great tools because they are easy to remember and they can apply in many different circumstances.”

“By really facing your future, thinking about it in fine detail, and creating a sense of closeness with the person you will be in 10 to 20 years’ time, you will naturally make the needs of your future self feel more important, and hopefully you will start to make some positive financial decisions that will help you prepare for your future needs.”

“Many psychologists recommend making peace with your inner child; I am a big advocate for getting cozy with your inner senior citizen.”