Tag: psychology

Relief Spending, Personality, and Planning

By Sarah Fallaw on May 27th, 2020 in Current Events, Studying the Wealthy

The long-term consequences of the global economic shut-down are, at least for now, unknown. But we can see some short-term implications that should cause us to pause, reflect, and plan when it comes to our future financial state, even if we outsource the financial planning task to others. For example, unemployment levels in the United States […]

The Household CFO: Success Factors & Leading Through A Crisis

By Sarah Fallaw on Apr 2nd, 2020 in Current Events, Psychology and Careers, Studying the Wealthy

Leading a household through a global pandemic is not a role most of us anticipated having during our lifetimes. Working from home alongside a makeshift school or managing household duties in addition to virtually caring for loved ones is only part of the changes many households are finding themselves experiencing. The new configuration of life, […]

Onward

By Sarah Fallaw on Feb 28th, 2019 in Current Events

Dear Faithful Readers and Fans, Thank you for continuing to read and respond to the blogs and publications associated with my father’s work. For the last four years you’ve allowed me the honor to continue writing for and posting on his blog, and I have been thankful for the opportunity to share my thoughts and […]

Millionaire Status: Why So Many Men?

By Sarah Fallaw on Oct 19th, 2018 in Books and Publications, Studying the Wealthy

More than anything else, our research findings related to becoming economically successful on our own have more to do with behaviors related to saving, spending, investing, and planning than characteristics that we cannot control, or have little choice over, like how we were raised. We’ve even seen, through the research we’ve conducted at DataPoints, that […]

Career Risks: Now or Later

By Sarah Fallaw on Sep 19th, 2017 in Lessons Learned, Psychology and Careers

In finishing the follow up to The Millionaire Next Door, and specifically in working on the chapter discussing work and careers, there is consistency in the finding that most economically successful individuals must take some sort of risk in their careers. The question is: when an opportunity (risk) is presented, who can take advantage of it? […]

Assessing Black Friday Fitness

By Sarah Fallaw on Nov 23rd, 2016 in Current Events

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 […]

On the 20th Anniversary of The Millionaire Next Door

By Sarah Fallaw on Oct 20th, 2016 in Books and Publications, Current Events

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 […]

The Handbag Challenge

By Sarah Fallaw on Jun 14th, 2016 in Current Events, Lessons Learned

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 […]

Spending Non-Financial Resources

By Sarah Fallaw on Dec 30th, 2015 in Psychology and Careers

How will you spend your time, emotions, and brainpower in the new year? From becoming emotionally involved in politics to the drama in what neighbors are buying, my father recognized that distractions could be a key source of why many struggle to become financially independent or achieve other goals. He gave us this advice on financial fitness last January: […]

Not Ready for The Real World

By Sarah Fallaw on Aug 6th, 2015 in Psychology and Careers

I know elementary school teachers, coaches, and your parents told you that all that matters is that you do your best. Unfortunately, they all lied to you. The professor who wrote this was responding to a fictional (albeit realistic) scenario: how would you respond to a student who asked for a grade change on a project because she “worked […]