How to make expensive purchases

April 29th, 2012

Today I want to talk about making expensive purchases. Too often, we see something expensive we like, feel guilty because we know we shouldn't get it...and then we buy it! Only to feel more guilty later. IWT isn't about guilt. I hate guilt and, also, I have no emotions so it's difficult for me to relate. Nonetheless, let me ...

$1,001 Contest Winner (and Twitter posts)

April 27th, 2012

We have a winner! Congratulations to J. Money, the winner of my "How would you spend $1,001?" contest. Here's how he said he'd spend the cash: The first thing I’d do is dump $500 of it into our baby’s 529 college fund.  Which we have yet to still open, haha… though I reckon this would certainly help ...

The psychology of putting effectiveness before ego

April 24th, 2012

I spend a lot of time talking about BIG wins (like salary negotiation) instead of incremental cutbacks on lattes or paper towels. The “big win” mentality is how hundreds of my students have landed their dream jobs, dug out of debt, and outperformed their peers in countless situations. But big wins aren’t always easy—especially when you use an ...

Be the expert: How should this guy manage his monthly expenses?

April 20th, 2012

Here's a recent email from IWT reader Richard A. How would you answer his question? "I have no idea why I'm writing this but you seem like the only person that would even care and/or be eligible to say I told you so. I live a pretty normal life. House, car, girlfriend, occasionally going out. I max out my ...

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The Power of Small Wins

April 18th, 2012

When I was researching my book, I discovered that one of the first feelings when people see a book/course about money is...DREAD. “Ugh...I’m going to have to analyze all my spending...find those old receipts....then keep a budget for the next 60 years...ugh” (throw book away and stomp on it on the way to ...

My latest experiment: Giving away $1,001

April 16th, 2012

I always find it funny when people talk about what they would do if they made $100,000, because they usually say things like “I would spend all day giving away money to charity, feeding puppies, and helping homeless vets.” Yeah, I’m sure you would. So I decided to run a small social experiment. I’m giving away $1,...

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