3 Money Topics I Am Exploring In My Life Right Now
There are 3 topics related to money I am actively thinking about a lot these days:
Topic #1: The Effect Social Media Has On My Spending
We've all heard of the proverbial "Keeping up with the Jones," but in the last decade, it's taken on a different meaning.
Now social media serves us daily reminders of what our friends have that we don't. Social media platforms also serve us hyper-personalized ads designed to further the jealousy.
How do I avoid the impact of this? Creating a "waiting period" before purchases might be a partial fix, but there is still work to be done.
Topic #2: What Does Effective Charitable Giving Look Like?
Over the last 3 years, I've begun to wrestle with effective charitable giving. How do I ensure my donations actually make the impact I hope?
Is deep involvement (both time and money) in a limited number of organizations the best way to ensure impact? Or is less involvement but broader participation in a number of causes "less risky"?
I've leaned into the former the last few years, but still struggle with not spreading myself, both time and money, too thin when other worthy causes come calling.
Topic #3: The "Stupid" Decisions We Make with Money
I also find it fascinating to study "behavioral finance" and the many biases and tricks that our minds play on us. Many of these, lead us to make poor long-term financial decisions.
It's one of those fun rabbit holes I find myself exploring simply because I enjoy it. And because a number of small, stupid decisions can compound to have large effects.
It would be great to connect with other people who are interested in these same topics—so if any of the above resonates, feel free to reach out!