Is money management more about behavior or about the math?
I have found that people who change their behavior win with money
This is a paradigm shift for most of us, including me
Life is like a pie, when you get your finances under control, it will overflow to other areas of your life
We're getting ready to put our condo on the market
Today's show is off the cuff as I do an impromptu show on how money management is about behavior, not about the math. So often we are taught or believe that personal finance is all mathematical. My degree in accounting taught me to think like that, however after studying personal finance for many years and working with individuals and couples on their finances over the past three years, I have realized that knowing the math isn't good enough. You have to modify you behavior to win with money.
We see this all the time with saving and paying off debt. We try to use math to rationalize why saving a small amount each month won't mean anything or why paying off low-interest rate debt isn't right. But when we see money as a behavior issue, we save and pay off debt so we can build that discipline which will allow us to reach our financial goals.
Other blog posts/podcasts related to behavior with money:
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