By Katya Kazakina
Creative people often have difficulties managing their finances, said Brad Klontz, a financial psychologist and author of “Mind over Money: Overcoming the Money Disorders That Threaten Our Financial Health” to be published in December by Broadway Business Books, an imprint of Crown Publishing.
“People who have become successful based on their creativity versus attention [...]
By Paul Sullivan
After all the turmoil in the markets, after Bernard L. Madoff and a bunch of other financial scandals, investors may well be questioning whether they’ve chosen the right financial adviser. It may be someone you like and trust, but is it someone competent to manage your money?
Close to 200 pairs of shoes, closetfuls of expensive jeans, stacks of cosmetics and fragrance candles, 100 tubes of lip gloss….32-year-old Nikki’s shopping addiction was spinning out of control. Not only did she rack up $38,000 credit card debt, for years she committed financial infidelity, lying to her husband about her spending. “I can deal [...]
The root of Scrooge’s miserly existence was an unhealthy belief system about money. In spite of his wealth, Scrooge’s beliefs about money—created, nurtured and anchored in his long-forgotten past—kept him poor in spirit. His loyal employee, Bob Cratchit, also had some unhealthy beliefs about money that contributed to his poverty. Like Scrooge and Cratchit, who [...]
Chapter 1: Information is not enough
The basics of financial health aren’t complicated, and they’re pretty much the same, no matter who you are or your level of wealth. They are even the same whether you’re talking about a person, a family, a company, or a country: Save now and invest for the future. Spend reasonable [...]
By Michael Pressman and Christine Murphy Costello
According to a recent poll by the American Psychological Association, two-thirds of Americans say the economy is a significant source of stress in their lives. Yet for a nation in the midst of an economic panic attack — not to mention a crisis brought about by overspending — there [...]
Nikki Ebben, a 32-year-old mother from Appleton, Wis., has been addicted to shopping for more than a decade. She owns approximately 160 pairs of shoes — some of which have only been worn once.
And it’s not just shoes. Ebben has a compulsive buying disorder — she’s bought 100 tubes of lip gloss, stacks of cosmetics [...]