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Why Does It Feel Like Everyone Has More Money Than You?

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https://www.harpersbazaar.com/culture/features/a26091060/money-millennials-parents-career-success/

harpersbazaar.com

Why Does It Feel Like Everyone Has More Money Than You?
In 2011, my parents gave me a sum of money that was both outrageous and, in the real estate terms of major cities, quite reasonable: 10 percent down on the 250-square-foot apartment I still own in Fort Greene, Brooklyn. While I was conflicted about taking it, there wasn't much of a question about whether I'd accept.

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Self-Made Millennials

Millennials who claim to be ‘self-made’ get support from their parents and in some cases, enjoy the privilege too, but are reluctant to admit the same. They have to show the world that they are abl...

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The Truth About Millennial Money

  • It’s important to share your real struggles, support and fundings once you find success, or it gives a distorted and false impression to those struggling without any resources. There shouldn’t...

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SIMILAR ARTICLES & IDEAS:

Measure your expenses

Take a hard look at how much you are spending day to day. Every time you spend money, write it down as it happens in a little notebook or log it into an app.

Alternat...

Aiming to save pounds, not pennies

Get a cheaper living situation: Live in a smaller house that needs less stuff to fill it or get a roommate.

The personal finance rule of thumb is to spend no more than one-third of your income on rent. 

You Can Cook

If you can read, you can cook. If you can read and cook, you can use meal planning and prep to save time, money, and improve your health.

Base your menu for the week on two things: what you already have in the house and what is on sale at your supermarket.

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"Rich Dad, Poor Dad" is Fiction

John T. Reed, a real estate investor, looked into the accuracy of Kiyosaki's best-selling book and found it inaccurate:

  • The Rich Dad is most likely an invention. ...

"Rich Dad, Poor Dad" contains dangerous advice

According to John T. Reed the famous book is filled with bad advice:

Dangerous advice

  • "If you're gonna go broke, go broke big"
  • Convinces people that college is for suckers

Law-breaking advice

  • Advocates committing a felony: have rich friends for trading stock based on non-public inside information, he says "That's what friends are for."
  • Recommends tax fraud by deducting vacations and health club dues
  • Brags about using a partner weasel clause in which his cat is his partner

Kiyosaki is making money from a personality cult

Many critics pointed out that Kiyosaki is selling a cult, not financial advice.

He is accused of tapping into the fantasies of the masses & being short on specifics, both attributes of religious cults.

3 Financial Basics

  1. Create a Financial Calendar: prevent yourself from forgetting quarterly tax payments and to get credit reports.
  2. Check Your Interest Rate: Pay off loans, open saving accou...

Budgeting Like a Pro

  • Consider an All-Cash Diet, as limiting yourself to physical currency combats overspending.
  • Set aside 1 minute a day to check on your financial transactions, to identify problems, track goal progress and set your spending tone.
  • Allocate at least 20% of your income to financial priorities like emergency funds, debts and retirement fund.
  • Budget about 30% of your income for nonbasic spendings, like entertainment. Abiding by the 30% rule, you can save and splurge at the same time.

How to Get Money Motivated

  • Draft a Financial Vision Board, it motivates and helps you to stay on track with your financial goals.
  • Set specific financial goals stating the reason, the way, numbers and dates.
  • Adopt a spending mantra, a phrase that serves as a rule of thumb for how you spend.
  • Love yourself. Taking control of your finances is part of that.
  • Make bite-size money goals. Make the bigger ones but also small step goals to get there.
  • Don’t be a financial fatalist, and switch to more positive mantras.
  • Get your finances and body in shape. The discipline associated with regular exercising translates to managing your money well.
  • Appreciate what you have now, instead of being a consumerist.
  • Get a Money Buddy. Studies indicate people pick up good habits from friends with similar traits.

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Rising Noise Around Us

  • Cities have a noise pollution problem, which is largely unaddressed.
  • Noise complaints regarding the high decibel levels of traffic, airplanes, and even helicopters are getting more fre...

Effect Of Noise on Children

  • According to the United Nations, about two-thirds of the world's population will be living in cities by the next 30 years.
  • The World Health Organization recommends classrooms to be not louder than 35 decibels, which is never the case in big cities.
  • Children are facing disruption in their learning, and research points out that those who study in a noisy place are 11 months behind the ones who are studying in quieter places in the same vicinity.

Living In Noise

Most of the city planning is done so that the affluent neighborhoods are in quieter areas.

However, this is also nullified when the ultra-rich who travel frequently stay close to the transit hubs (like Airports), being exposed to high decibels of noise.

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The two tales about houses

The one story we tell ourselves about homeownership is it is a path to a more stable, equitable future. The idea is that it is a responsible decision that requires commitment and hope. It is center...

Owning a suburban home

The idea of owning a suburban home was fed to Americans by people in power: Suburbia has always been suitable for industry.

Big houses = big appliances. This fed the coal, steel, and automaking industries. With it came cars and oil that made the postwar American suburb possible. It is all as much a creature of government as of the market.

Reconsidering the suburban house 

The climate crisis and carbon dependency make potential homeowners reconsider the effects of suburban sprawl.

The September 11, 2001, terrorist attack and the market crash of 2008 sowed a sense of instability and propagated fears.

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Financial Literacy

Financial Literacy

While kids and teens get to learn about a lot of stuff, most families and schools do not teach them how to manage their money. In some families, it is considered a taboo subject and many friends a...

In And Out

Most of us know how much we make, but we need to pay close attention to how much money is actually coming in post-tax, and how much is going out.

You can start by writing down your Starbucks, Uber, Amazon, and take-out expenses, along with your car insurance, utility bills, subscriptions and memberships. Slowly we can realize that many of these small expenses add up to huge figures.

Review And Analyse

By noting down all your expenses on pen and paper, or on the PC excel sheet, you can start to review and analyse your spendings on a weekly or monthly basis. This will make you find innovative ways to save money, catching hold of ‘runaway spending’ that went unnoticed before.

Example: You could find that the $5 Smoothie that you had every day, could cost much less if you made it at home.

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Take on more responsibility

Command the tasks and responsibilities in your current role, then start solving the problems that your soon-to-be self would be working on.
The only way to eff...

Proactively communicate wins

Consistently exceed expectations in terms of your current role and job responsibilities. Take on more than expected, and manage these projects as well as your more senior colleagues.

Share your accomplishments early and often.

Demonstrate your accomplishments

  • Demonstrate that you have taken on additional responsibilities and provide specific details about your accomplishments. 
  • Share examples of projects you have completed and how they’ve positively impacted the business. Was there an increase in revenue? Did you save a customer? 
  • If you’ve received positive feedback from colleagues or other leaders regarding your work, be prepared to share that with your manager as well. 
  • Identify ways you’ve earned money for the company, for example through sales, upsells or creating efficiencies.

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"Needing" therapy

By framing therapy in terms of what we need rather than what we could benefit from, many people experience too much shame or embarrassment to try it.

Not everybody needs therapy. But ...

How therapy helps

  • Understanding how the way we tend to think about things affects our moods and emotions
  • Clarifying our values and strategizing about the most effective path toward them
  • Learning to communicate directly and assertively in relationships or the workplace
  • Building self-confidence in social situations
  • Acquiring more effective parenting skills and techniques
  • Working through complicated grief or loss

Therapy and growth

Ultimately, therapy is about growth and creating opportunities for positive change.

And in addition to improving traditional mental health struggles, therapy can also be a powerful and efficient way to make progress on personal goals or aspirations.

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The "chubby kid"

From young, many chubby kids get the message early on that they're fat.
The message gets spread through concerned adults when they ask the child to wear something a bit more flattering, while t...

A transformation

A strict diet and determination can transform the body into a thinner self. However, the mind struggles to follow the transformation. The perfect weight becomes the measurement for success, and any deviation from it feels like failure.

Beauty

Beauty is not restricted to certain types of women at all. You don't need to be thin to find love.

Women should not feel that their bodies are tied to the perfect body of other women.

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Food Memory

Eating specific foods which were consumed in our early years can evoke powerful and emotional memories, lying dormant in our subconscious for decades. This is possible even if the food was first re...

Chocolate Cupcakes

Food memories are formed unconsciously and can create certain curious associations and preferences in our life. It adds nostalgia and emotional meaning to our recollection of the experience.


The smells and tastes of the past infuse wonder, colour and depth to our life.