Yo!
My aunt recently told me about one of her memories of living in the Philippines and being seven years old. Her mother, my grandmother, taught her daughters how to slaughter a chicken. My aunt recalled watching her two older sisters catch a chicken, slit its throat, bleed it out, scald and pluck out its feathers.
As she watched, she thought with dread, "I'm going to have to do this someday." Lucky for her, the day she needed to assume chicken-slaughtering responsibilities never came. However, she didn't escape entirely unscathed. "To this day, I can't buy a whole chicken. It’s just too much," she said, scrunching her face in disgust. She went on, "Isn't it funny how life's little traumas stick with you like that?"
For my aunt, like many of us, we can easily draw the line between a little past trauma and current, innocuous behaviors. When we can easily see this, it's like seeing our internal programming. But other times, it's not always clear, or our behaviors aren't so innocuous.
When it comes to change, the hard work of uncovering how we have become who we are is often the most challenging part.
Your favorite finance friend,
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1. 🤓 Most Common Investing Struggles (and How to Avoid Them) (HYG Original) 🤓
2. 🤑 How do influencers make money? And how much? She'll tell you (LA Times). “Content creators are the fastest-growing type of small business in the U.S.”
3. ✈ Why airlines need business travel to return (The Hustle) An illustrated explainer on the decline of business travel — and how it could wreak havoc on your cheap economy tickets.
4. 🎲 The Gambler (The Riveter) “What ‘know your worth’ really means in so many situations, is knowing your risk. It’s asking yourself how much you are willing to gamble to make the money you think you should make.”
5. 🏃♂️ How American Billionaires Like Phil Knight Pass Wealth to Heirs Tax-Free (Bloomberg Businessweek) It’s a perfect case study in how the major estate tax loopholes work in tandem and how the estate tax is entirely avoidable
6. 🤓 A Bookkeeping Thing: Do You Need to Pay Quarterly Taxes? (HYG Original) 🤓
7. 🏨 Send this Article to Anyone Who Says Renting is a Waste (A Lawyer and Her Money) “I think there’s a lot of vitriol thrown at renters. But really, why does where I live or how I pay for it matter to you? It makes sense for my life and my finances. I literally ran the numbers on my particular circumstances and it didn’t work out. Whether renting or housing makes better financial sense depends on so many individual factors that no one can know but you. So let’s all cool it on which one is better – neither renting nor housing is better. What matters is what’s best for you.”
8. 🤦♂️ The problem with America’s semi-rich (Vox) “If you get rid of the false idea of meritocracy that everyone earns what they deserve and substitute the idea that meritocracy means holding power accountable to rational standards of public scrutiny, you have a class that can actively contribute in a positive way toward equality. There’s nothing more dangerous to inequality than a society where people and activities are held up to rational standards.”
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