I think it is easy to confuse ownership and stewardship. When you believe that you own something, you are afraid of losing it. When you believe you are a caretaker of something, it frees you from the anxiety of loss and also refocuses your efforts on improving. If you can re-frame your thinking about money […]
Author: theteenmoneyproject
Net Worth is Worth Tracking
If you have even a tiny competitive bone in your body then you will get a hit of dopamine doing this very simple scorecard: track your net worth. NET WORTH: A snapshot of your financial health that takes what you have and subtracts what you owe to give you a (hopefully) positive number. E.G. If […]
Money Deployment
Budget. That just makes me think of restriction. Cheap. Lack. It doesn’t make me want to go all in on the money management thing. It sounds like a lot of saying, “I can’t (fill in the blank)” because my budget says so. Oddly enough, I really enjoyed making Excel spreadsheets, setting up all my categories, […]
The Compound Effect
Popularized by Darren Hardy, The Compound Effect sums up what I think is important in teaching teens the power of small effort over time. I read it a while back and it definitely stuck with me. The idea that a plane that started to veer off by the tiniest degree could end up 100’s of […]
Money, Money, Money
Such a dirty word. I don’t really remember talking about it much growing up—Gen X here. I knew you needed to make it, keep it, save it, but I really didn’t have a grasp on its unrelenting presence in my future adult life. It was an unknown. I knew I wanted it. Seemed like if […]