One of my students gave a presentation on how to use goal-setting theory to reach financial freedom and at the end he said, “but you’ll never save money if you don’t MIND YOUR OWN BUSINESS,” and this really stuck with me. In the Twitterverse yesterday, one of my fellow industrial-organizational psychology friends retweeted this quote …
Waiting tables, mowing lawns, babysitting, retail sales, camp staff, stockroom: how many of these summer jobs did you have in high school and college? What about the teens you know – are they working this summer? When I saw the headline that retail jobs that once filled the time of teenagers looking to make money …
If you are the mother of small children, or a working mom, or a woman who needs a mental escape from your busy day, the idea of having a place all to yourself is appealing. The latest in ultimate escapism is aptly called the “she shed,” discussed in depth in the Wall Street Journal. In …
If part of your work involves educating others on how consumption can affect their ability to build and maintain wealth, looking for outside patterns of data and trends might be a way to bring an “ah-ha” moment to clients, children, friends, or family members. A string of articles in last week’s Wall Street Journal wove an …
The follow up to The Millionaire Next Door is underway, and part of that effort has been analyzing data and merging the findings into the drafted chapters of the new book. A few weeks ago, I visited the team at Kennesaw State University who worked with us to administer the massive survey to assess the habits, behaviors, …
The frenzy of holiday shopping started over a month ago, culminating with this week’s Black Friday sales, where an estimated 137.4 million people will shop for something. My father had a lot to say about Black Friday shopping, particularly about those who felt it necessary or were compelled to stand in line for hours waiting …
As we progress through this election cycle I am having a bout of deja vu. We’ve been here before. Back in 1996 we were watching another election cycle that involved the Clintons–Bill Clinton versus Bob Dole versus Ross Perot. We were also seeing increased technology addiction (chatting on dial-up ISPs), and feeling as if threats …
On the 20th Anniversary of The Millionaire Next Door Read More »
The inter-generational wealth transfer that is looming in the United States is also being anticipated by our friends in Canada. “We are a nation of ‘waiters’” writes Garry Marr in the Financial Post, “as in, we are waiting for parents and grandparents to expire to get our windfall.” For a variety of reasons, that statement …
For many of us, handbags hold our entire lives. My life is held in a six-year-old mom purse, coated on the inside with a thin layer of dried Cheerio powder mixed with applesauce and regularly confused with a punching bag. I have a running joke with my colleagues at Data Points that I’m not buying a new …
Where is the millionaire next door? Part of my father’s role as an advisor to DataPoints was to guide the creation of assessments that could measure the same factors critical to building wealth in a broad population of financial decision-makers, not just the wealthy or those with high incomes. The assessments, measures of behaviors and life …