Ideas on Personal Finance
It is common to see headlines like “Inflation hits multi-decade high” or “Unless your salary goes up 8.5%, you are losing money”. While these headlines grab attention, they may not be relevant to you. Everyone’s inflation rate is different. The overall inflation rate is 8.5%, which is the average for everyone. Your rate could be … Read more
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A few months ago, I had written that the government wanted to cause a recession in order to stop the runaway inflation. Well, now that the government has managed to start a recession, it is worth thinking about what comes next. Why recession? Recessions suck. The economy slows down, job losses increase, and people feel … Read more
It may seem strange that the government and federal reserve want to purposefully cause a recession. During a recession, the economy shrinks, companies lay off workers, and things get miserable all around. So why then would they want to start a recession? In a previous article, I talked about what was causing inflation last year. … Read more
For some Finer readers who like to listen to podcasts, one of my articles was featured in the Optimal Finance Daily podcast. Please click here to listen online or click here to listen on the Apple Podcast app or search for “Optimal Finance Daily” in your podcast app (Episode 1,860). For those of us who … Read more
Joseph Heller – a famous novelist – was at a party hosted by a billionaire hedge fund manager. A guest informed Heller that the hedge fund manager had made more money in a single day than Heller had earned from his wildly popular novel Catch 22. Heller responded, “Yes, but I have something he will … Read more
Delayed gratification is the most important trait for financial success. To delay gratification is to resist the temptation of immediate pleasure for future benefit. Nature has wired us to seek instant rewards and not worry about tomorrow. Modern consumerism culture and advertising make it almost impossible to resist the temptation to spend money. However, numerous … Read more
Here is an interesting thought experiment – would you switch places with Warren Buffet? When I ask this question, people say – Yes. After all, who would not want to be a multi-billionaire? But in addition to being rich, you will also be 91 years old. When given this information, almost everyone changes their answer! … Read more
The 5 Chimps Theory states that you are an average of the five people you spend the most time with. Like it or not – you are greatly influenced by the 5 people closest to you. Most of your conversations are with these people. They affect your mood and drive your behavior. They influence your … Read more
The American Dream is a long-standing belief that everyone can become successful and move up in life. However, almost two-thirds of Americans think that the American Dream is dead! And this is not just an American phenomenon. Globally, more people are pessimistic about the future than ever before. There are several factors behind this – … Read more
“Why is Finer writing about Gratitude?” you might ask. “Isn’t this is a personal finance blog?” Yes – this is a personal finance blog. But over the years, I have realized that the ‘personal’ aspects of ‘personal finance’ are more important than the ‘finance’ part. The finance part is straightforward and math-driven, whereas the personal … Read more