Money and Emotions

[Gone Fishing]

Most of us already know these things intuitively but its good to see them layed out in one place...

http://www.marketwatch.com/story/how-emotions-affect-money-habits-2015-03-13?page=1

[deborah]

Thanks for that - I liked reading it, but, as you say, it is probably nothing new, just good to see them all together.

[Glenstache]

I think the last part of the article was the one that resonated with mustachianism:

When you’re thankful

Gratitude isn’t just a pleasant emotion. Feeling thankful also “reduces excessive economic impatience,” according to another Lerner study. It helps offset our tendency to discount the value of future rewards—in other words, it helps us delay gratification.

So next time you’re struck by the urge to spend money or dip into your savings, take a moment and list at least 10 things that make you feel grateful. You may well decide that you have more than enough.

Seems to echo some of what MMM was saying in this week's blog post too.

[Retired To Win]

I think the last part of the article was the one that resonated with mustachianism:

When you’re thankful

Gratitude isn’t just a pleasant emotion. Feeling thankful also “reduces excessive economic impatience,” according to another Lerner study. It helps offset our tendency to discount the value of future rewards—in other words, it helps us delay gratification.

So next time you’re struck by the urge to spend money or dip into your savings, take a moment and list at least 10 things that make you feel grateful. You may well decide that you have more than enough.

My wife often just looks at me and tells me "we're blessed" to have what we have and be where we are.  She's right, and it's good that she regularly reminds both of us.