Not all Dollars are Created Equal

not all dollars

If you happen to have cash in your wallet right now, take out a note and have a look at it.  It’s just a piece of paper.  It has a picture of someone famous on it, a few words and a number.  That’s what money is. 

In real terms, it is a medium of exchange created because bartering got a bit tricky, e.g. how do you value your cow when you want to swop it for a sack of grain.  But, as you will see, not all dollars are equal!

Sounds all very rational doesn’t it and it kept the economists happy.  But the economists forgot a very important point.  We aren’t rational!  So, when we see the piece of paper with pictures and numbers on it, we see a lot more than a symbol to buy stuff.  We see all sorts of emotions and meanings and it’s different for men & women. Continue reading

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We Are Not Rational!

not rational

Have you ever done something and then afterwards scratched your head and thought, “what on earth was I thinking!?”  Welcome to the world of being human.  We are not rational and despite our best intentions, there are going to be times when we do odd things.

So, what influences our decisions?  Well, there is a wealth of research into ‘Why We do Dumb Stuff’ – technically called Behavioural Economics.  As Dan Ariely (Prof of Psychology and Behavioral Economics at Duke University) says, “we’re Predictably Irrational!” Continue reading

The Q&A Forum #6

Welcome back! This is the last video in our Q&A series where you get to ask us your money questions.

In this episode David from Christchurch, NZ, asks, “What is the best way to pay myself from my business?”

Then Anne from Perth, Australia, wants to know how much of her income should she allocate to paying off debt.

Did you miss out on sending us your question?

No problem, if you still have a question for us, send it to hello@moneymentalist.com and we will be happy to answer it for you.

See you in our next series!

Women Undervalue Themselves!

women undervalue

Firstly, let me say thank you for being part of our community.  I know that we can help you achieve your goals, personally and financially and live a lifestyle you love.

You may have noticed that more and more women are going into business for themselves as consultants, coaches and small business owners.  Which is fantastic to see!  But there is a problem. Continue reading

The Q&A Forum #4

Welcome to the 4th video in our Q&A series where you get to ask the questions.

Today the two questions are from Susan and Jeff.

Susan asks, – I’ve paid off all my debt, now what?

Jeff asks, – My income keeps going up but I don’t have anything left over and I’m not any happier. What’s going on?

Send us any question you have, nothing is too small and don’t even think about it being silly!

We answer all questions by email, whether we cover them here in this video series or not. Send to hello@moneymentalist.com

Time to Talk About Us

time to talk

Funny how songs have a habit of popping into our heads.  I was wondering why this song – You Don’t Bring Me Flowers  popped into my head this morning as I was walking from the train to the office.

A lot of our week has been meeting with women in business.  They’re busy building their businesses, looking after their children and their homes.  Then at the end of the day, they are just too tired to relax and enjoy the time they have with their partners. Continue reading

Why Can’t We Make Saving Fun?

Saving money. We all know we should be doing it for retirement and have money tucked away for a rainy day.  But it is harder said than done.

The reality is, if you don’t pay yourself first, you will end up paying yourself last and there won’t be anything left!

But saving money just isn’t as much fun as spending it.  Saving money for retirement is just too far away when you are in your 20’s or 30’s, having the newest and latest piece of technology is much more exciting.

Gerry Mitchel in his recent article for The Meridian Star  ‘The Psychology of Saving’ makes some very interesting points. Here is a snippet. Continue reading