Loaded E-Book

Sarah Newcomb

• Herausgeber: John Wiley & Sons
• Kategorie: Fachliteratur
• Sprache: Englisch

Seitenzahl: 305

Veröffentlichungsjahr: 2016

Beschreibung

Praise for LOADED "LOADED is that rare resource which somehow captures both theoretical and practical wisdom about money, personality, and life. Your views - and actions - with money will be much improved after reading the wonderful advice in LOADED." --James Grubman, PhD, author of Strangers in Paradise: How Families Adapt to Wealth Across Generations and co-author of Cross Cultures: How Global Families Negotiate Change Across Generations YOUR MOST VALUABLE ASSET...IS YOU. LOADED WILL TEACH YOU HOW TO MAKE THE MOST OF IT. Based on decades of research and years of hands-on experience with people from all walks of life, LOADED is a must-read for anyone who finds themselves caught between the desire to thrive financially and the complex emotions and conflicting priorities that money so often brings to our lives. Inside, you will learn to: * Check your stories. Pinpoint and change beliefs that hold you back. * Choose your strategies. Learn how to align your money with your needs. * Cultivate your value. Put your unique resources to use and earn more. Deeply researched, yet written in an approachable, conversational tone, LOADED offers insight into how your personal experiences have shaped your financial attitudes, and how you can build a healthier relationship with money.

Leseprobe

LOADED

Money, Psychology, and How to Get Ahead without Leaving Your Values Behind

Sarah Newcomb

Cover design: Michael Pettit, Morningstar, Inc. Cover image: Michael Pettit, Morningstar, Inc.; brain root © thanaphiphat/iStockphoto; money tree © UpperCut Images/iStockphoto

Copyright © 2016 by Sarah Newcomb. All rights reserved.

Published by John Wiley & Sons, Inc., Hoboken, New Jersey. Published simultaneously in Canada.

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Library of Congress Cataloging-in-Publication Data:

Names: Newcomb, Sarah C., author. Title: Loaded : money, psychology, and how to get ahead without leaving your    values behind / Sarah Newcomb, PhD. Description: Hoboken, New Jersey : John Wiley & Sons, Inc., [2016] | Includes index. Identifiers: LCCN 2016001707 | ISBN 9781119258322 (hardback) | ISBN 9781119258339 (ePDF) | ISBN 9781119258346 (ePub)> Subjects: LCSH: Finance, Personal–Psychological aspects. |    Economics–Psychological aspects. | BISAC: BUSINESS & ECONOMICS / Personal     Finance / Money Management. | BUSINESS & ECONOMICS / Personal Finance /    General. | BUSINESS & ECONOMICS / Personal Finance / Investing.

Classification: LCC HG179 .N447 2016 | DDC 332.024–dc23 LC record available at http://lccn.loc.gov/2016001707

To Zoë: May you never stand in the way of your own dreams.

CONTENTS

Acknowledgments

Introduction

1: When It Comes to Money, We’ve All Got Issues

Notes

2: Money Messages

We Don’t Talk about Money

We Talk about Money Constantly

From Freud to Frodo: The Stories We Tell Each Other

The Stories We Tell Ourselves

Stories Can Help or Hurt

Heuristics and Biases Shape Our Stories

Identifying Core Beliefs

Challenging Core Beliefs

Using Science to Our Advantage

Notes

3: Poverty, Privilege, and Prejudice

Money and Social Psychology: How Poverty, Privilege, and Comparisons Affect Our Minds and Behavior

Poverty: Why Not Having Enough Is a Major Drag

Privilege: Why Having an Advantage Is Great . . . and Not So Great

Prejudice—We’ve All Got It

Movin’ on Up

Money and Cognitive Psychology: How Specific Thinking Patterns Affect Financial Decisions

Why Retail Therapy Feels Good: Identity and Ego Depletion

Time and Money: Why We Always Want It NOW

Thinking in Circles

Finances and Emotions

Financial Knowledge

Making Change

Notes

4: The LOADED Budget

What’s Wrong with Your Budget?

Where Does Your Money Come from?

Assets and Resources

Where Does Your Money Go?

Rules of Thumb for Creative Resource Management

The Asset Test

Putting It in All Together: Your Personal Economy

Enjoying a Loaded Life: Living in Harmony with Your Money and Your Values

Notes

Appendix A: Self-Assessments

Write Your Personal Financial Narrative

Define Your Core Beliefs

Financial Management Behavior Scale

Emotions and Money (from HelloWallet’s 2014 Pilot Study)

Mental Imagery

Behavior Identification Form

How Impulsive Are You?

Big Five Financial Literacy Questions

Appendix B: Interventions and Exercises

Change the Narrative

Challenging Core Beliefs: Find a Counterexample

Age Progression

Future Visualization Exercises

Exercises to Combat MoneyThink

Affirm Core Values

Cash Flow Worksheet

Resources Worksheet

Expenses and Needs Worksheet

Your Personal Economy

Just-In-Time Financial Education Resources

About the Author

Index

EULA

List of Illustrations

Chapter 3

Figure 3.1

Saving Study: Four Groups

Figure 3.2

Who Saved the Most?

Figure 3.3

People Who Use Credit

Figure 3.4

People Who Don’t Use Credit

Figure 3.5

Time and Emotions

Figure 3.6

Control and Emotions

Figure 3.7

Assessments, Activities, and Worksheets

Chapter 4

Figure 4.1

Cash Flow

Figure 4.3

Assets Generate Income

Figure 4.4

How Income Maps to Resources

Figure 4.5

Liabilities Create Expenses

Figure 4.6

Maslow’s Hierarchy of Needs

Figure 4.7

Needs and Money

Figure 4.8

Expenses Come From Needs

Figure 4.9

The Things Humans Need in Order to Feel Fulfilled

Figure 4.10

Raphael’s Cash Flow

Figure 4.11

Raphael’s Real Cash Flow

Figure 4.12

Personal Economics

Figure 4.13

Raphael’s Actual Cash Flow

Figure 4.14

Raphael’s Personal Economy

Guide

Cover

Table of Contents

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Acknowledgments

THANK YOU to the following individuals, without whose contributions and support this book would not have been written:

First, to the incredible professors who have inspired and challenged me, and taught me to diligently question my assumptions: Jim Grubman, George Criner, Mario Teisl, Shannon McCoy, Caroline Noblet, Bill Halteman, and Linda Silka. Your scholarship and support have made this work possible.

To my colleagues, who have championed and supported this work through many stages and drafts: Rob Pinkerton, Steve Wendel, Amna Kanoun, Merve Akbas, Erik Johnson, Mary Dyer, Marion Syverson, Ryan Pickering, Caroline Collins, Pedram Rahmatabati, Diane Batty, Renee Benz, Carling Spelhaug, and Michael Pettit. Your patience, creative contributions, encouragement, and cheerleading made all the difference in the world.

To the team at Wiley who believed in the idea and helped turn out a great work in record time: James Belcher, Michael Henton, Meg Freeborn, Susan Cerra, and especially Tula Batanchiev, who first saw the value in this work, and held my hand through the entire process. You all have been amazing.

To my family, and those friends that I love like family: Chris, Amy, Jesse, and Jake Newcomb; Jason Mills; Robin and Jim Hamilton; Zoë and Graham Morehead; Jonathan McCullum; Kristen Brown; Stacia Dreyer; and Michelle Johnson. If not for all you’ve given, this book would simply not exist.

Lastly, to all of the people who I have had the pleasure to teach and counsel over the years. Thank you for sharing your stories and your struggles. I am sure I learned far more from you than the other way around.

Introduction

THERE IS NO SHORTAGE of books for those who love money. Enter any bookstore and you will find guides to help you think rich, attract money, or beat Wall Street. These may appeal to people who aspire to great wealth and luxury and those who associate money with opportunity, happiness, and freedom. But where is the book for the rest of us? Where is the book for the people who have come to equate money with stress, inequality, barriers, or greed? Where is the book that acknowledges the darker side of the financial world?