The most valuable email you’ll read for yourself and your kids in a few MOMENTS per week.
I’ve still been posting daily YouTube Shorts – this week it’s been about financial preparedness and smart spending. Please check them out!
Don’t forget to subscribe! If you want, of course.
M
MONEY TIP
Beware of the Diderot Effect. It’s the effect that happens when one purchase leads to another related purchase. Your new recliner makes the rest of your furniture look old. Or you buy a new gaming system and now you need games… come to think of it, the TV is a little small for optimal gaming. You get the idea. Take this effect into consideration when making ANY purchase. Sometimes even small purchases can lead to larger purchases or many other small purchases.
O
OPPORTUNITY
Real-Time Air Quality Index – A map showing live readings of air quality sensors around the world. It’s great when you’re traveling to countries with poor air quality so you can see what the actual reading is, or you can view cities/countries in rank order.
M
MINIMALISM TIP
Digital Minimalism is a thing and how cluttered our computers/devices are has an effect on us. That being said, to free up physical space, consider the things you can convert to digital. Some of the obvious things are documents, music, and photos. There are likely more things that can go digital though. Think about things like recipes or anything else you use regularly that doesn’t need to be in the physical realm.
E
ESSENTIAL READING
The Richest Man in Babylon is a classic in the personal finance world. If you haven’t read it, I recommend it. Now there is an illustrated version you can use to break it down for your kids. It was created by Clifton Corbin, the author of Your Kids, Their Money, which is another great read for parents. I guess you get 3 recommended books today.
N
NOTION
Discuss the Diderot Effect with your kids. While you’re taking it into account when making purchasing decisions, explain it to them. Show them how this one small purchase may not seem like a big deal, but if it leads to spending more money then this little purchase turns into a big deal.
T
TRAVEL TIP
If you travel a lot, get duplicates of the things you use while traveling and leave them in your travel bag. We travel constantly and this has saved our family so much time, and more importantly, it takes the stress out of packing. You won’t forget things if they stay packed. I do this with toiletries, but also phone cables and anything else I used to have to unpack and put back each time I came home. That being said, I wouldn’t suggest doing this with clothes. I think that’s a little too far.
S
SCRIPTURE
“The Lord is my strength and my shield; in him my heart trusts, and I am helped; my heart exults, and with my song I give thanks to him.”
Psalm 28:7
Closing Question
Think of an important life lesson you’ve learned from someone who truly inspired you. Have you taught that lesson to your kids?
