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Lobby General Discussion topic #12792796

Subject: "Personal Finance folks...removing emotion from financial decisions" Previous topic | Next topic
double negative
Member since Dec 14th 2007
22151 posts
Tue Apr-28-15 12:21 PM

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"Personal Finance folks...removing emotion from financial decisions"


  

          

Above all it seems like the biggest enemy of building wealth, smart spending, saving, investing are emotions.

Money is inherently an emotional thing. It represents frozen potential.


So, how does one remove the emotional aspect from money?

***********************************************************
https://soundcloud.com/swageyph/yph-die-with-me

  

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Topic Outline
Subject Author Message Date ID
investing, set it and forget it unless you really know the market
Apr 28th 2015
1
similar to managing emotions in other areas of life
Apr 28th 2015
2
Its hard especially for Black folks
Apr 28th 2015
3
CASH IS KING!!!
Apr 28th 2015
4
I have to tell the wife that we probably should go away for her Bday
Apr 28th 2015
5
change your mindset about money
Apr 28th 2015
6
this was easiest for me to do when i was single.
Apr 28th 2015
7

legsdiamond
Member since May 05th 2011
79586 posts
Tue Apr-28-15 12:28 PM

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1. "investing, set it and forget it unless you really know the market"
In response to Reply # 0


          

but the everyday spending and large purchases.

want vs need

and really being honest about what we need. I damn sure haven't mastered it but I think impulse shopping is our #1 enemy.

How many big items have we purchased that we REALLY needed at that point in time?

just my opinion. I damn sure have work to do.

****************
TBH the fact that you're even a mod here fits squarely within Jag's narrative of OK-sanctioned aggression, bullying, and toxicity. *shrug*

  

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SuiteLady
Member since Oct 19th 2004
16194 posts
Tue Apr-28-15 12:32 PM

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2. "similar to managing emotions in other areas of life"
In response to Reply # 0


  

          

don't make your decision based on how you feel at the moment
and just like in other areas of life, it is HARD

♥ Inescapably Me ♥

"Love is never any better than the lover" Toni Morrison (The Bluest Eye)

  

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DaHeathenOne76
Member since May 11th 2003
29362 posts
Tue Apr-28-15 12:33 PM

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3. "Its hard especially for Black folks "
In response to Reply # 0


          

Since we are denied wealth but what I find that helps is breaking it into little pieces and being patient.

The notebook challenge helps quite a bit if people are compliant and then moving them on to the envelope system.

*****************************************
http://www.iamsharandajones.org/help

  

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legsdiamond
Member since May 05th 2011
79586 posts
Tue Apr-28-15 12:36 PM

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4. "CASH IS KING!!! "
In response to Reply # 3


          

****************
TBH the fact that you're even a mod here fits squarely within Jag's narrative of OK-sanctioned aggression, bullying, and toxicity. *shrug*

  

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Buddy_Gilapagos
Charter member
49405 posts
Tue Apr-28-15 12:36 PM

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5. "I have to tell the wife that we probably should go away for her Bday"
In response to Reply # 0


  

          

It just wouldn't be financially prudent to do so.


**********
"Everyone has a plan until you punch them in the face. Then they don't have a plan anymore." (c) Mike Tyson


"One of the most important things in life is what Judge Learned Hand described as 'that ever-gnawing inner doubt as to whether you're

  

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luminous
Charter member
12475 posts
Tue Apr-28-15 12:53 PM

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6. "change your mindset about money"
In response to Reply # 0


  

          

--
Sometimes you have to look reality in the face and say 'No!'
-Ben (Reaper)

If you need any help, don't. Hesitate to ask.

  

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Deadzombie
Member since Aug 21st 2008
13358 posts
Tue Apr-28-15 12:55 PM

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7. "this was easiest for me to do when i was single."
In response to Reply # 0


          

dealing with other people -> family makes things hairy and harder.

  

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