Nine Cognitive Biases You Need to Understand to Master Your Money – The Simple Dollar

In cognitive science, choice-supportive bias is the tendency to retroactively ascribe positive attributes to an option one has selected. It is a cognitive bias. For example, if a person buys a computer from Apple instead of a computer (PC) running Windows, they are likely to ignore or downplay the faults of Apple computers while amplifying those of Windows computers. Conversely, they are also likely to notice and amplify advantages of Apple computers and not notice or de-emphasize those of Windows computers.

This is one that should seem intimately familiar. Think about how people root for their favorite sports team or back up their political stances. They drastically overweigh the positives and drastically underweigh the negatives.

via Nine Cognitive Biases You Need to Understand to Master Your Money – The Simple Dollar.


Simple and Sinister in a Rehabilitation Setting | StrongFirst

I will finish with a caveat. I am a healthcare professional with many good friends in the field of strength and conditioning and rehabilitation.  I also have many years of experience in weight training and injury care and prevention. If you have torn your distal biceps tendon, seek advice from physicians and physical therapists who understand basic weight training. If your doctor does not deadlift or gives you a funny look when you say Turkish Get Up, find a new doctor. With the current rehabilitation environment where I live, had I not understood how to use the principles of tension, grease the groove, and how to work on motor patterns and movements, I would not have been as far along at discharge.

via Simple and Sinister in a Rehabilitation Setting | StrongFirst.

Things People in the Finance Industry Don’t Want You to Know – A Wealth of Common SenseA Wealth of Common Sense

There’s no such thing as “smart money.” Everyone likes to poke fun at mom and pop investors, but the professionals are just as likely to succomb to performance chasing and cognitive dissonance. There are countless examples of intelligent investors blowing themselves up through the misuse of leverage or a trade gone wrong. Somehow the smart money is always more than willing to give these same people millions of dollars when they decide to raise a new fund a few years down the line.

via Things People in the Finance Industry Don’t Want You to Know – A Wealth of Common SenseA Wealth of Common Sense.

What Does Your Work Truck Say About You?

So heed my advice, men of all ages who are not yet millionaires and wish they were. Your truck may be the biggest obstacle in your way.

The size of your truck is inversely proportional to the size of your wallet. Which one of the two would you rather supersize?

* I speak mostly to men in this article, because they are the primary victims of the pickup truck racket. But women are not immune – they just tend to fall into the “SUV and Minivan” trap more often.

via What Does Your Work Truck Say About You?.

Why Some Men Pretend to Work 80-Hour Weeks – HBR

My research revealed that men were just as likely as women to have trouble with these “always on” expectations. However, men often coped with these demands in ways that differed strikingly. Women who had trouble with the work hours tended to simply to take formal accommodations, reducing their work hours, but also revealing their inability to be true ideal workers, and , and they were consequently marginalized within the firm. In contrast, many men found unobtrusive, under-the-radar ways to alter the structure of their work (such as cultivating mostly local clients, or building alliances with other colleagues), such that they could work predictable schedules in the 50 to 60 hour range. In doing so, they were able to work far less than those who fully devoted themselves to work, and had greater control over when and where those hours were worked, yet were able to “pass” as ideal workers, evading penalties for their noncompliance.

via Why Some Men Pretend to Work 80-Hour Weeks – HBR.

iOS vs Android: The 2015 Edition

Nearly a couple of thousand words later, and in some ways we’ve barely started to scratch the surface of iOS vs Android—that’s an indication of how these smartphone OSes have expanded in scope and influence, and how versatile the modern-day mobile phone actually is.

Read through some of the iOS vs Android thought pieces on the web and you’ll find that a lot of the time it’s the small differences that count: The positioning of a button, or the way a specific feature is handled, or a reliance on one particular app or another.

Yet get above that minutiae and you find that Apple and Google have fundamentally different ideas about the way that software, hardware, the web, user data and privacy should be handled. On one level, iOS and Android have never been more similar; on many others, they’ve never been further apart.

via iOS vs Android: The 2015 Edition.

The Surprising Benefits of Giving Money Away | The Art of Manliness

Did you ever read that classic book when you were a kid — Paddle-to-the-Sea? A young boy carves a wooden canoe and tosses it into a stream. The big question is where will it go? What will it do?

Giving away money is like that. No matter how old we are, there’s something cool about that feeling — releasing something small into the great unknown. We will never fully know all the good that can happen when we give money away.

What will your contribution do? Whose life will it touch for good? What will that person do in turn to impact someone else’s life for better?

Note that I’m not advocating giving money away blindly. Indeed, it’s helpful and prudent to research whatever organization you give to.

via The Surprising Benefits of Giving Money Away | The Art of Manliness.

8 Reasons Successful People Are Choosing to Wear the Same Thing Every Day

2. Less time wasted. We have no idea how much of a burden our possessions have become until we begin to remove them. But when we do, we immediately discover a new life of freedom and opportunity. It was almost five years ago that I first experimented with Project 333—a personal challenge of wearing only 33 articles of clothing for a period of 3 months. The project is simple, life-changing, and wildly beneficial. I quickly discovered one of the greatest benefits of limiting my wardrobe: the gift of time. Getting ready in the morning became easier, quicker, and more efficient.

via 8 Reasons Successful People Are Choosing to Wear the Same Thing Every Day.

10 Questions with Go Curry Cracker! – 1500 Days to Freedom

The below interview goes into the life of a 30 something couple in Early Retirement.  Read on through to the link to see what a typical day is like and more.

Any difficulty adapting to your new life?

Releasing baby turtles into the sunset, Puerto Escondido, Mexico

Even 6 months after leaving the workplace, I would find myself sometimes thinking about work.  There I was on a beach with an ice-cold coconut, and my mind was thousands of miles away trying to solve a problem that no longer existed.

I’m happy to report that this bit of neurosis has been solved by an intensive regime of more beach and more coconut.

via 10 Questions with Go Curry Cracker! – 1500 Days to Freedom1500 Days to Freedom.

How To Reduce Stress and Emotional Spending – Making Sense Of Cents

5. Stick to a budget.

With this post, I’m not trying to say that you should cut out all spending. Instead, you should create a budget for yourself and still include some fun spending as long as it fits in your budget.

A budget is great because it can help keep you in check when it comes to your spending.

Once you realize how much money you have to work with, you will most likely spend less because everything is finally out in the open.

via How To Reduce Stress and Emotional Spending – Making Sense Of Cents.