Thoughts on Money

But consumption smoothing pays homage to an existential reality: Life itself is the ultimate scarce asset. The future is unknowable, and religiously maintaining a double-digit savings rate through the worst squalls of life is not of the utmost importance.

I work with the wealthy, the children of the wealthy and the soon to be wealthy. Please listen to what I have to say. I know you think that if you can just make enough money, your problems will go away. And there will be harmony in your household. And your relationships will be better.Unfortunately, that that’s not how it works. What actually happe... See more

Owning your right to feel good about money can help you make it happen. This isn’t law of attraction, raising your vibrations or whatever. It doesn’t actually get you more money by any means. It’s about getting creative to use the system against itself and claim the good money vibes you have every right to experience.

“conventional budgeting methods rely on restriction, discipline, and perfectionism in a way that doesn’t work for people. They ignore an important truth about money: it’s meant to be spent.”

Being "good with money" means you know how to USE it. Saving money is one use, but it's not the exclusive way to put your money to work for you .

Neither he nor the others feel that the hunched shoulders and housing insecurity of their youth were good for their art. The “La Bohème” portrait of impoverished painters and poets was after all a description, not a prescription. “And at least they could afford the garret,” Jacobs-Jenkins says. “In New York, forget it.”

That was our first lesson. To earn money, we did some house chores that we called “job-jobs”.

You could only do the paying “job-jobs” after your regular household chores.

She continued to build on this by talking to us about our futures and encouraging us to save to meet different goals instead of spending it all.