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Category: Spend More

September 20, 2024By Paula Pant

#542: Are We All Financial Hypochondriacs? Why We Feel Broke, Even When Our Bank Accounts Are Full

Ever feel like you’re never doing enough with your money, even when your finances look good on paper? 

You’re not alone. 

Katie Gatti Tassin, host of the Money with Katie podcast, dives into a phenomenon called “money dysmorphia” in today’s interview.

She shares how she got flooded with responses when she asked her listeners about money dysmorphia. Folks with hefty savings and investments still worry they’re not doing enough. It’s like they’re always waiting for the other shoe to drop.

Where does this come from? Katie points to a few culprits. Social media is an obvious scapegoat. But traditional media plays a role too. Think about all those TV shows where “normal” families live in massive houses and drive fancy cars. It skews our perception of what’s average.

Location matters too. Katie talks about how moving from Dallas to Fort Collins changed her spending habits. Different cities have different vibes and social norms around money.

The conversation takes an interesting turn when Katie shares her own experience buying a Porsche. She felt conflicted, worried her FIRE (Financial Independence, Retire Early) community would judge her. It highlights how even personal finance experts grapple with these issues.

They also touch on how the pandemic shook up financial priorities. When faced with uncertainty, some people realized saving for a far-off future might not be the only goal worth pursuing.

Katie and Paula discuss the importance of balance. It’s good to save, but not at the expense of living your life now. They suggest seeking out voices in the personal finance world to get a more rounded perspective.

Travel comes up as a way to gain financial perspective. Seeing how people live in other parts of the world can make you appreciate what you have or show you where your own country could improve.

Katie and Paula offer food for thought on how to navigate our complex relationship with money. It’s a conversation that might make you think differently about your own financial mindset.

Keep reading...

December 5, 2013Written By Paula Pant

Drugs, Your Brain, and Holiday Sales

During the holidays, millions of Americans swarm upon stores across the nation.

Stores respond by dropping prices.

Why? Why does a surge in demand trigger lower prices?

If demand spikes and supply stays (mostly) the same, prices should rise instead of fall. Right?

Humor me for a moment:

Imagine that you own a retail […]

Keep reading...

August 15, 2013Written By Paula Pant

How Radically Redefining ‘Necessary’ Spending Can Set You Free …

This has been a big week: I had dinner with my biological sister, whom I haven’t seen in 7 years. (I was adopted.)

But this isn’t a blog post about cross-country family reunions. It’s a post about a magical thing called discretionary income, the key to a portal of incredible opportunities.

Discretionary […]

Keep reading...

July 11, 2013Written By Paula Pant

Don’t Skimp on Your Health

I’ve endured 18 years of bad vision. I’ve worn glasses or contacts since elementary/middle school.

In prehistoric days, bad eyesight might have been a death sentence. I couldn’t hunt prey, forage for berries or spot predators. In 21st century America, though, blurry vision is a minor inconvenience. It’s also an expense […]

Keep reading...

July 1, 2013Written By Paula Pant

Should I Go to Grad School?

I’ve been in Paris for more than a week, and I’m reminded of how little money you need to have an amazing experience.

This morning I ate a fresh baguette (88 cents) with cheese and olives, and sipped a homemade cappuccino in my living room. This afternoon I’m taking a long walk […]

Keep reading...

April 23, 2013Written By Paula Pant

How the “Diderot Effect” Can Change Your Life …

In the 18th century, a French writer named Denis Diderot received a gift: a beautiful scarlet dressing gown.

The fabric was gorgeous. The colors were rich. The craftsmanship was spectacular.

Diderot immediately threw his tattered old gown away. He didn’t need it anymore. His new gown was breathtaking.

Of course, he needed […]

Keep reading...

November 27, 2012Written By Paula Pant

Why I Buy a Daily Latte

Yes, it’s true. “Don’t buy lattes” may be a personal finance cliché, but I literally buy a Starbucks coffee every day. I pay $1.78 for a tall (which is Starbucksian for “small,”) plus 54 cents for a refill. Daily damage: $2.32.

That’s $71.92 per month, if I go daily (which I […]

Keep reading...

April 12, 2011Written By Paula Pant

Supersize My City Apartment: Buying a Triplex

Every major city I’ve visited — New York, San Francisco — has blown me away with one amazing aspect: its main park.

Whether I’m in Central Park in Manhattan, Golden Gate Park in San Francisco or Lumpini Park in Bangkok, I can’t help but notice a few common threads: these spaces are gorgeous, centrally located, […]

Keep reading...

March 3, 2011Written By Paula Pant

One Type of Health Insurance to Avoid

Many people assume that if some health insurance is good, more health insurance is better. That’s not always true.

Sometimes, having a little LESS coverage is the smarter move.

To understand why, keep in mind that the purpose of health insurance is to safeguard you against risk. The purpose is NOT to pay your medical […]

Keep reading...

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