Money-Smart Mondaywith John Lanza Hello, friends, If you’re fortunate enough to have Presidents’ Day off, I hope you enjoy it. Here’s what’s going on this week. A timely program we’re offeringOur crackerjack team put together an engaging theme for Credit Union Youth Month. I posted the details on LinkedIn. While money-smart learning is a year-round effort, April’s Youth Month gives our partner credit unions a chance to shine a sharp spotlight on the importance of financial literacy for kids of all ages. If you want to know more, please reply to this email. An intriguing human behavior“Ironically, people eat their favorite foods quickly. Binge eaters also report that they keep on eating in an effort to recreate the pleasure of the first bite. Because the taste receptors tire out quickly, this will never work.”
—Jan Chozen Bays
We are an odd species: We go all in on our wants only to discover there’s a limit to the enjoyment any desire can bring us. Whether we call this tendency hedonic adaptation or the pleasure paradox, it’s a lesson we learn only through experience. So it pays to be on the lookout for opportunities to address this behavior with our kids, whether sitting at the dinner table or dealing with a Starbucks habit. Investing advice I shared with my kids“If you sink 1% of your money into a single stock that goes to zero, you will probably be very upset. If your entire portfolio loses 1% of its value, you are apt to shrug it off as a routine fluctuation. And yet the effect on your total wealth is identical.”
—Jason Zweig, The Wall Street Journal‘s “Intelligent Investor” (from his book Your Money & Your Brain)
More ideas I found interesting➡️ An easy way to force better spending habits. (Thanks to podcast alum Andy Hill.) Enjoy the journey! John,
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