Sometimes I think I should be writing a food blog instead of a personal finance blog, especially given the number of food entries I have posted (see grits, chocolate cake, marshmallows, soup, and lomi lomi salmon). Today, I focus on stew. Not the Irish beef stew or the vegetable stew, but the kind of stew where [...]

When a banker or financial adviser asks us what we are working on, it is easy to come up with an abstract, cerebral response such as “building security for the future” or “trying a new investment strategy.” But the reality is, if we are going to be motivated to really work on a challenging goal [...]

A somewhat recent development in the field of psychology is the study of “positive psychology,” which examines the positive qualities and experiences that improve human functioning rather than the disorders that disrupt behavior. Chief among these qualities is gratitude. Studies have found that writing a letter of thanks to someone or making a “gratitude appointment” [...]

Last week, we looked at the vicious cycles that keep us trapped in a financial dilemma. Feelings of frustration, fear, or discouragement feed into unhelpful coping behaviors, and then the consequences of the unhelpful coping behaviors feed into the negative feelings. For example, consider Joe who was recently laid off from his job as a [...]

We may have the best intentions to save more money, spend less, or start a new investment strategy. We know exactly how to do it, but somehow we still feel “stuck.” Could it be a vicious negative cycle or a feedback loop that is getting in our way? Many people experience a range of emotions [...]

Imagine that there is a slight twist on the old magic genie scenario, and the genie offers to answer three questions for you. Committed as you are to your financial change efforts, you decide you are going to use your questions strategically. You want the answers you receive to accelerate your progress toward your financial [...]

Last week, we looked at the emotions that create the perfect storm to render us defenseless against bad financial habits. This week, we look at a range of strategies that we might use when we are stressed, distracted, and tempted to stray from our healthy money goals. There are many activities that we tend to [...]

We know that the more emotionally miserable we feel, the more prone we are to give in to life’s temptations, such as impulse purchases and spending sprees (and chocolate cake!).  When depression, anxiety, and stress combine, they create the perfect storm that renders us defenseless against bad financial habits. Let’s take a look at why [...]