Bonus Bits – Week of 11/22/21
Good morning! Here are this week’s bonus tips and nuggets from around the community. To get these every day in your inbox, sign up to our daily newsletter where you’ll see these faster, as well as our top 3 curated articles every day!
👉 Crab Mentality
If you’ve ever felt like other people are holding you back – either from financial independence or goals in general – you might be surprised that you’re not the first person to feel this way. In fact, this is so common it has a name – crab mentality. Crab mentality refers to when your friends and family hold you back – consciously or unconsciously. It comes from the concept that when a group of crabs is trapped in a bucket and one tries to escape, the other crabs will pull it back inside.
👉 Reboot Your Portfolio
Dan Bortolotti is well known as the creator of the authoritative Canadian Couch Potato blog and podcast. His latest book Reboot Your Portfolio: 9 Steps to Successful Investing with ETFs is my pick for best investing book for Canadians. The writing is clear, the advice is practical, and it anticipates the challenges readers will have in following through on his 9 steps. Whether you work with a financial advisor or manage your own investments, reading this book will make you a better investor.
👉 What Will You Do with the Final Days of 2021?
Let’s be honest. Many of us can do some significant damage to our lives in the last few weeks of any year. We tend to lose control and let loose. Then, we have to pick up the pieces in the next year. I used to exhibit that kind of behavior every year!
Now imagine that, for the next five weeks, you stick to your budget. You don’t overspend. Then, when you start 2022, you’re starting with a clean slate. You’re not in the hole from overspending. How great would that feel?
We think that we don’t have any self-control during the holidays. But that’s not true. Instead, we need a mind shift. Indulge on the actual holiday, but the rest of the days, live your normal, typical life. You’ll be so much happier on January 1st if you do
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