Hi friend,
My wife cracked open a fortune cookie recently and the fortune inside read, “Sometimes money is too expensive.” This phrase seems to be a strong theme I’m witnessing at the moment, although I hadn’t articulated the sentiment as succinctly as this cookie has.
I’m seeing this theme in all the people reevaluating the tradeoffs they’re making in their jobs. I see it in the price of Bitcoin (even though it's far below its all-time high), and in our collective anticipation of rising interest rates. I see it through the eyes of someone close to me that has dealt with years of stress trying to collect an outstanding invoice — they finally succeeded, but the total cost in stress, anxiety and legal fees was steep.
Are you experiencing this theme too? Has there been an instance in your life where the cost of money was much more expensive in more ways than monetarily? Don’t be shy, hit reply.
Your favorite finance friend,
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P.S. If you’re reading this before noon today, I’m going live with Erin Lowry, author of Broke Millennial to do an AMA (ask me anything) at 12p PT / 3p ET. Tune in here.
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1. 🤔 Money Is A Shared Delusion: Why How We Think About Money Matters (What Works with Tara McMullin) “’The quality of your thinking impacts the decisions you make,’ Paco told me. That’s why she cares about really getting to the heart of how we think about money, rather than trying to plaster over it with affirmations and financial advice. When you say something like ‘charge what you’re worth’ to cover over feelings of inadequacy, the inadequacy is going to leak through. Those unexamined feelings influence your decision-making. So you find a way to rationalize a decision prompted by your original, negative money story rather than the one you think you’re telling. 2. 💸 The Dirty Secret of Inflation: Corporations Are Jacking Up Prices and Profits (The Nation) 3. 🤷♀️ I’m a creator. You’re a creator. We’re all creators! (Vox) When did everybody start calling themselves content creators? 4. 🐶 How Much Is a Dog’s Life Worth? (Texas Monthly) A writer learns the hard way—the hardest way—that in Texas the answer is: not much. 5. 🤓 A bookkeeping thing - Important Tax Dates for 2022 and a friendly reminder of next week’s corporate and partnership tax filing deadline (HYG Original) 6. 💰 The Next Affordable City Is Already Too Expensive (The New York Times) In Spokane, Wash., home prices jumped 60 percent in the past two years. The increase is fueled by buyers fleeing the boom in cities like Austin. Who will have to flee next? 7. 🧐 Related, kinda: 'We’re All Speculating': Inside the Wildly Hyped Metaverse Real Estate Rush (Vice) 8. 🎬 The Ugly Truth of How Movie Scores Are Made (Vanity Fair) The streaming revolution is changing the way film composers get paid and exposing the flaws of a system where big names farm their scores out to uncredited ‘ghost composers.’ “Lately, in the streaming era, composers themselves are talking more and more about making a living. With an increasing share of their work moving to streaming, film composers are seeing their royalty earnings dwindle to ‘pennies on the dollar,’ as more than three dozen of them put it last August in an open letter to ASCAP, BMI, and the other performance-royalty organizations, or PROs, that collect and distribute revenues to songwriters. ‘This raises serious concerns for the future financial outlook for all composers,’ the letter declared.”
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