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Showing posts with label entrepreneurs. Show all posts
Showing posts with label entrepreneurs. Show all posts

Science Has Discovered Why Some Persons Are Motivated to Succeed While Others Aren't


There are mornings when I look over my to-do-list and just keep staring blankly at it. Instead of getting to work, I keep checking my inbox, news feed, and making a fresh cup of green tea. Then I notice the dirty dishes in the kitchen.
I get the dishes cleaned up, but there are also those clothes sitting on the chair from last night, so I quickly get those hung up.

Next thing I know, I’ve just wasted two hours of my morning.

Of course a friend calls and tells me everything they accomplished in their morning. It sounds like they’ve done more than the average person does in an entire day -- and sometimes I realize that what they got done could take me a week.
What’s the deal? At first I wondered if I was just lazy? Maybe those others are just exceptional individuals. Or -- is it something else entirely?

Motivation: It’s all in your head.

Science has found that the source of motivation comes from the part of the brain known as the nucleus accumbens. It’s in the small section where neurotransmitters send chemical messages to the rest of your body. It’s these neurotransmitters that keep us alert, focused, and that part of the brain influences things like completing a project or going to the gym.

When it comes specifically to motivation, one of the most important neurotransmitters is dopamine.

Dopamine is one of the chemical signals that passes information from one neuron to the next. When dopamine is released from the first neuron, it floats between the empty space (the synapse) between the first and second neuron. As it moves between neurons, it bumps against various receptors.
"Dopamine helps bridge what scientists call psychological distance,” explains John Salamone, Ph.D., the head of the Behavioral Neuroscience Division at the University of Connecticut. "Say you're sitting at home on your couch in your pajamas, thinking you really should exercise, for example. Dopamine is what enables you to make the decision to be active."
But, here’s where things can get complicated. When it comes to motivation, dopamine has to take the mesolimbic pathway. This is essentially from the middle of the brain to the cerebral cortex. Without getting too scientific, this process seems to be the most rewarding pathway in the brain.
That’s because during this journey, one of the most important stops is the nucleus accumbens. When there’s a surplus of dopamine in this space it triggers feedback for predicting rewards.
In other words, when your brain recognizes that something important is about go down, and it's a good move for you, dopamine starts to kick-in.

Dopamine: It’s just not about pleasure.

Since dopamine is released before we ever receive a reward, it’s real job is to encourage us to act. It motivates us to achieve, while avoiding something bad.
What’s interesting is that when we think of dopamine, we associate it with pleasure. However, it’s been found that dopamine also spikes during moments of stress, pain, or loss -- it carries us through those episodes.
To verify this phenomon, a team of scientists at Vanderbilt conducted a brain imaging study that compared the brains of “go-getters” and “slackers.”
The team found that the “go-getters” had higher levels of dopamine in the reward and motivation portions of the brain -- which is the striatum and ventromedial prefrontal cortex.
The “slackers” had a higher level of dopamine in the part of the brain that’s associated with emotion and risk -- the anterior insula.
“Past studies in rats have shown that dopamine is crucial for reward motivation,” said Dr. Michael Treadway. “But this study provides new information about how dopamine determines individual differences in the behavior of human reward-seekers.”
“Low levels of dopamine make people and other animals less likely to work for things, so it has more to do with motivation and cost/benefit analyses than pleasure itself,” adds the University of Connecticut researcher, John Salamone.

How to harness the power of dopamine to get more done.

First things first. You will need to identify the three primary sources of resistance to getting things done. Touching very lightly on this, these primary sources are: “I have to,” “I don’t feel right about this,” and “I can’t do this.”

Combat sources of resistance.

To combat these sources of resistance, look for solutions. Don’t allow yourself to think about what you want to get done in terms of  something you “have to do.” Begin thinking and helping yourself to believe in terms of getting your work done because you “choose to” or “want to” accomplish these items or activities.
Start aligning tasks with your values. Don’t be afraid of failure. After all, practice makes perfect. After you’ve identified these factors, you can start rethinking your thought process to get yourself motivated.

But, how can you get the dopamine flowing?

You can begin to get the dopamine flowing better by setting incremental goals. When you complete a step, dopamine will due to the brain’s positive reinforcement.

Other actions to try that will help you with your efforts:

  • Record and celebrate your small wins.
    This could be crossing-off an item from you to-do-list or tracking your progress. It’s effective since it shows that you’re working your way towards a goal.
  • Single-tasking.
    Instead of multitasking, focus on one thing at a time. This prevents you from depleting your brain’s energy. Since you have more energy, you’ll get more done. And when you’re productive, dopamine is released.
  • Exceed your expectations.
    "When something feels better than expected, dopamine sends a signal to your brain that says, 'You need to figure out how to make it happen again,'" says Treadway.
  • Focus on the end-game.
    A study out of the University of Michigan discovered that results-driven focus can motivate people to complete their work.
  • Help others.
    “Neuroscience has demonstrated that giving is a powerful pathway for creating more personal joy and improving overall health,” writes Eva Ritvo, M.D. As a result, dopamine is triggered. Even if you’re not volunteering or sharing your knowledge, think about how your work is going to positively affect others.
  • Share your results.
    When you tell others about you accomplishments, you'll receive praise and recognition from your friends, family, or colleagues.
  • Change your diet.
    Eating foods containing natural probiotics is a quick way to kick-in dopamine, such as yogurt. You should also eat and drink items that contain L-tyrosine, such as apples, avocados, bananas, green leafy vegetables, peanuts, green tea, and coffeed.
  • Turn setbacks around.
    "You're going to go off track sometime -- everyone does. But that can provide valuable information on how to change what you're doing so you'll be successful next time around, "says Sona Dimidjian, Ph.D., an associate professor of psychology and neuroscience at the University of Colorado, Boulder.

Conclusion

Even though it may appear that others more motivated than you are, you can change that feeling around by life-hacking your dopamine. The easiest, and most effective, ways to do this is by tracking your progress incrementally and receiving positive feedback.
Once you do, you’ll be just as motivated as those whom you are perceiving as the successful “go-getters.”















How I Bought My Own House Debt Free at age 25


Brown is only 26, but she already owns a house and has socked away a nice amount of money for retirement in both a 401(k) and Individual Retirement Account (IRA). Oh, and she has a renter who pays $900 a month, enough to cover her entire mortgage.
As her friends and family like to say, she's "got it figured out."
Brown doesn't work on Wall Street or Silicon Valley. She's an accountant in Cleveland, Ohio, who bought her home at age 25 when she earned about $50,000 a year.

'I didn't want to live paycheck to paycheck'


Friends tried to convince her to live closer to "the action" in downtown Cleveland. But she did her research and realized that between the high rent and paying for parking, it wasn't worth it. So she instead chose to buy a "fixer upper" home for $107,000 in a suburb. A tenant was already living in part of the duplex home. Brown was happy to extend the lease and have her stay.
Only about 20% of Americans own their home by age 25, according to the Census.
She credits her financial savvy to three things: Parents who stressed frugality, reading the book "Rich Dad Poor Dad" and going to college during the Great Recession.





"Living through 2008 and seeing people lose their jobs taught me you have to prepare for anything," Brown told CNNMoney. "I wanted a game plan, not living paycheck to paycheck."

Brown's advice: Save, save, save


Her money plan is simple: work hard, save a lot, and buy property you can afford.
It's hardly a novel idea. Way back in 1758, American founding father Benjamin Franklin wrote an essay called "The Way to Wealth." His conclusion: "If you would be wealthy, think of saving as well as getting."
She has budgets for everything and works hard not to go over. Much like eating healthy, Brown views money as a choice you make every day. She drives an older car, a 2009 Ford Escape SUV with "a big old dent." Friends joke that she doesn't come out for drinks after she's spent her fun budget.
And student loans? Brown has those too. She borrowed about $35,000 to attend Baldwin Wallace University in Ohio. She worked jobs in college, managing to pay down about $6,000 of her loans while still in school. Since graduating in 2012, she's continued to pay more than the amount due every month. Her balance now is just $10,000.

Open an IRA at a young age


But Brown says her biggest "a-ha" money moment came from starting an IRA. When she was in high school, she worked at an ice cream shop called Dairy Dock in Vermilion, Ohio. At age 18, she had about $100 saved from her pay.
Her father suggested putting it in a saving account or certificate of deposit ("CD"), but the interest was so low -- nearly 0% -- that the bank recommended Brown open an IRA and consider investing the money in a stock market fund.
"I thought it was the craziest thing I had ever heard," Brown admits about starting a retirement account at age 18. "But those little amounts have grown immensely."

Sacrifices today can pay off big time


In 2008, as Wall Street was in meltdown mode, Brown started university and majored in finance and accounting. Her professors stressed saving and investing early, so she kept putting money into her IRA from her summer jobs and internships. After graduating college in 2012, she landed a full-time job as an accountant and began to put $250 a month away in her IRA religiously.
At her current job, she also opened a 401(k) retirement plan and contributes 6% of her salary, which her company matches.
Brown's smarts and financial maturity even impresses the pros. When Yvette Butler, president of Capital One Investing, hears of Brown, her reaction is: "She's my idol ... I wish more of us started saving for retirement at 18."













How much Money do I need to start investing?

INVESTING, INVESTMENT, HOWTO, how to make money, entrepreneurs, business, Finance,

This is one of the most commonly asked questions from readers. Many people want to become the next Warren Buffett, but they don't know where to begin investing or even how much money they need to make the first purchase.
Short answer: $5.
Better answer: $500, and only AFTER you have built up your emergency savings.
"We really encourage people to have six months of savings first," says Yvette Butler, president of Capital One Investing. Once you have a few thousand in savings, then you can start investing.
The goal of investing is to make your money grow faster than it would in a typical bank account (especially since savings accounts barely spit out a little more than 0%interest now). But investing is risky. You can lose money, especially in the "short run."
How to invest: Once you have the cash, an explosion of trading apps has made it easy to get going.
"We wanted to make our service accessible" to anyone, says Vlad Tenev, co-founder of the app Robinhood that allows you to buy and sell stocks for free. You just have to have enough money to buy the stock you want (e.g. $56 for Starbucks (SBUX)).
Robinhood launched in March 2015. It already has about a million users. Tenev says many begin by investing just a few hundred dollars as a way to dip their toes in and learn. Over time, they add more to their portfolio.



How to get going with just $5: If you really want to start small you can use an app like Stash or Acorns. Both allow you to begin investing with just $5. Stash offers you a choice of several funds to invest in. You basically end up owning part of a stock -- similar to sharing your apartment with roommates. Acorns allows you to deposit "spare change" from say, your coffee purchase. When you get to $5, the app invests that money for you into a diversified portfolio (basically, a mix of stocks and bonds).
How to get great advice: Feeling too intimidated to pick your first stock or fund? There are a lot of great -- and cheap -- services that will do it for you. Betterment and Wealthfront are good examples. They use computer models to figure out the best portfolio mix for you based on your age, income, goals and tax situation and they will invest your money for you.
"The way people invest is changing dramatically," says Jon Stein, founder and CEO of Betterment. "We optimize your gains, net of fees."
Betterment doesn't have a minimum balance requirement, so you can start with just a few dollars. Wealthfront requires $500 to get going.
More established players like FidelityCharles Schwab and Vanguard are lowering their prices and offering more options to cater to "new investors," especially Millennials. You can call them up or stop by an office in your town to discuss what to do.
Just remember: Always check the fees. If you only want to buy $500 in Apple stock, you don't want to get charged a $7.99 fee when you can buy the stock on an app for free.
What to buy: Figuring out what to buy is tough. There are roughly 2,400 stocks traded on the New York Stock Exchange alone.
The easiest option is to buy what's known as an ETF (an exchange-traded fund) like SPY (SPY). It trades like a stock, but it means you own a basket of stocks. In the case of SPY, the basket is made up of 500 of America's largest companies. Sure, a few might struggle, but all 500 probably aren't going to tank at the same time, so it helps lower the risk.
Another common option is to buy the ETF of a sector of the economy such as QQQ (QQQ) for tech stocks or EEM (EEM) for emerging markets.
Buying individual stocks is riskier. If the stock falls, you can lose a lot of money. Of course, you also gain a lot of money if it goes up. The most popular stock by far is Apple. Other widely held ones are Facebook (FB, Tech30)GE (GE) and Disney (DIS).
Keep in mind: About half of Americans have money in the stock market, but only 14% own individual stocks.













How young millionaires Are investing their money


They don't just want to grow their money: Many Millennials want to achieve social and environmental goals through their investments. It's called "impact investing" and it's not just a buzz word.
"Impact investing is hitting the mainstream," says Jackie VanderBrug, investment strategist at U.S. Trust, a division of Bank of America (BAC). "We're hitting a tipping point."
VanderBrug knows. She and her team at U.S. Trust recently surveyed 684 individuals with investable assets worth $3 million or more. Among the millionaires, dozens were Millennials between the ages of 18 and 35.
The overwhelming majority of Millennials surveyed -- 93% -- believe that a company's social and environmental impact is key to their investing decisions. That's up from 74% two years ago, according to the U.S. Trust study.
In some ways, it's not new. Students have long protested at universities to end investments in coal or against governments like South Africa during the apartheid era. Last year, Columbia University and the University of Southern California both dumped their investments in prison stocks after student protests.
But instead of divesting, new investors want to see companies make an impact in a positive way.
Their older peers also agree. This year, 51% of Baby Boomer investors believe impact investing is key to where they park their cash, up from 46%. All age groups have increased their preference for impact investing over the past two years.
Former Vice President Al Gore is one impact investor. His investing firm, Generation, manages $12 billion.
"Sustainability values should be completely integrated in the investing process," Gore said in November at the Dealbook Conference.
Despite the buzz, experts admit there are challenges. Here are the top ones:
1. Defining "impact investing" is a challenge. It includes a wide swath of subjects, from gender equality and renewable energy to affordable housing and environmental policies. So they don't all appeal to the same people.
2. How it benefits investors is sometimes hard to measure. Fixing abstract problems like gender inequality through private investment don't have easy yardsticks for success.
3. Impact investing is often confused or conflated with philanthropy -- many investors don't want to blend the two, either for moral reasons or tax purposes (you can write off philanthropic donations when you file your taxes).
Still, companies are becoming more transparent, experts say. Last year, over 7,000 companies issued corporate responsibility reports, which are audited by a third party. That's up from only 27 such reports in 1992, says VanderBrug.
And some people are trying to tackle the challenges facing impact investors. Christina Alfonso is the CEO of Madeira Global, a firm based in New York that specializes in data analytics that pertain to ESG -- environmental, social and governance.
Her firm focuses on scoring private equity companies on a framework that has a scale of 0 to 100. Madeira ranks firms on a range of factors, such environmental policies, governance and social impact.
"It allows us to benchmark companies across industries, geographies and growth stages," says Alfonso.
One often-cited socially responsible company is Starbucks (SBUX). It seeks to buy coffee grown in an ethical manner. It also helps employees pay for college, among other initiatives.
"We've seen that non-financial factors can play a significant role in a company's financial performance as consumers and investors increasingly support businesses that consider social impact as well as profitability," says Alfonso.













How To Save Beyond $250 Monthly Using These 25 Methods That Most Business Owners Are Ignoring

I get it -- money is tight. So, how does saving $250 a month sound? There are tons of ways business owners can save hundreds of dollars (or more) each month. Sadly, most people, including business owners, don't make the effort to implement huge-but-easily accomplished savings. 
How To Save Beyond $250 Monthly Using These 25 Methods That Most Business Owners Are Ignoring

This post will list 25 easy ways you can start saving $250 per month right now. While not all of these tips will save you hundreds of dollars in one shot, combining two or three of them definitely will. 







1. Ditch the landline.

If you have a single-line system for your business, your costs likely start around $50/month. If you have multiple lines, you're probably paying at least double that.
Scrap the landline and let your cell phones do double duty. Bonus: You can write off your business-associated phone costs, saving you even more money.

2. Share advertising costs with another business owner.

Cut your advertising costs in half by teaming up with the owner of a complementary business. This works especially well for co-sponsoring local or online events.
Another cost-saving option is to ask other business owners if they want to advertise via your website or social media. This can actually be a great bonus revenue stream!

3. Create your own forms rather than paying for them.

The vast majority of business forms you need (invoice, order forms, non-disclosure agreements, partnership contracts, etc. ) can be found online for free. Heck, it's what my company does and we don't charge anything.

4. Buy second-hand equipment and furniture.

Why pay $500 for a new desk when you could get a gently-used one on Craigslist for $100? Same goes for printers, computers and other electronics.
Another great option is buying refurbished electronics from reputable electronics dealers.

5. Negotiate a cheaper credit card rate.

Paying credit card fees is one of the worst ways to spend your money. Look around to see what competing card companies are charging, and then try to negotiate a lower rate with your current card company.

6. Raise your insurance deductible.

Take a look at how many times you've made a claim over the past few years. If you seldom make claims, consider raising your deductible to save on monthly premiums. Even moving from a $250 deductible to $500 can make a decent dent in your monthly insurance costs.

7. Outsource rather than hiring.

While the hourly cost of outsourcing may end up being equivalent (or even slightly higher) to hiring someone, you'll save big in terms of pensions and benefits. Why not save that extra money, or use it to pay a highly-qualified consultant who could likely do a better job in less time? I've also found a full time programmer by first outsourcing.

8. Check the accuracy of your mailing list.

If you do large-scale mailings, you could be wasting a ton of money if your address list is outdated or inaccurate. The US Postal Services offers a number of free and low-cost services to check your list before you mail.

9. Get your family to help out.

Instead of hiring outside help for administrative tasks like filing and bookkeeping, hire an immediate family member. You still get to claim the business expense. You keep the money in the family, and your lower income-earning. Family members won't have to pay much tax on their earnings, either.

10. Always pay early to get the discount.

Take advantage of early payment discounts whenever possible. This can be particularly lucrative if a supplier is offering 2/10 net 30 (meaning 2 percent discount if paid within 10 days). This works out to an almost 37% return when annualized.

11. Barter.

You'd be surprised at how many businesses are willing to barter goods and services. I find this is particularly true when it comes to advertising. If money is tight, offer your products or services in exchange for a free ad, mention or online sponsorship.

12. Go as paperless as possible.

Skip the paper and ink and use email whenever possible. There are tons of free apps that can help you make the transition: CamScannerEvernote and Due.com are just a few.

13. Share office space (or go without).

Many companies are saving hundreds or thousands a month by going virtual, sharing office space or renting temporary meeting rooms. Use a site like ShareDesk to find local office space you can book on an as-needed basis. I personally use coworking space Bootup. It helps me to cut costs.

14. Try your hand at free PR.

Hiring a PR consultant can cost big bucks. Instead, use a service like Help a Reporter to get free PR. This service lets you respond to daily, emailed queries. These queries can land you in big-name publications like Time, The Wall Street Journal or The New York Times.

15. Hire an intern.

Instead of hiring or outsourcing, consider an intern from a local college or university. While this can be a very labor-intensive process (finding, training, reporting, etc.), it can save you money in the long-run.

16. Outsource the tough tasks.

It seems counterintuitive, but by outsourcing tasks it actually frees you up to spend more time on revenue-generating activities. Some of these tasks might be blogging, social media management or office administration.

17. Stop using your credit cards.

Take it from someone who owns a company to accept credit card payments: don't underestimate how fast it can saddle your business with debt. According to ValuePenguin, the average rate for a business credit card in 2017 is over 15 percent. If you're tempted to carry a balance on your card, try switching to cash-only purchases.
Each month get pre-purchase gift cards for your necessities. This way you always know where you're financial standing is and can avoid racking up charges on credit.

18. Bring a bagged lunch.

Spending a few bucks a day eating out may not seem like a lot, but it adds up. According to Time, bringing your own lunch can save you up to $2,500 per year.

19. Move from traditional to online advertising.

Are you still using old-school advertising strategies like magazine or newspaper ads? Switch to digital advertising strategies. With social media, email and content marketing, you could save a ton of money each month. Plus, digital marketing tends to be much more effective.

20. Ask for a reduction in your phone or internet bills.

Your phone and internet bills are not set in stone. Investigate what others are charging, then call your provider and ask for a discount. Most phone companies will look for savings in your current plan, if you simply call and ask if there's a way to reduce your bill.

21. Use free tools whenever available.

In many cases, free tools can be just as effective as paid ones. Don't pay for a tool unless you KNOW you need it and you can't live without it!

22. Go open source for your ecommerce store.

Thinking of opening an e-commerce store? There are tons of great, free open source e-commerce platforms you can choose from.
This means no additional monthly fees for the privilege of selling your stuff! Look into BigCommerceZen CartWooCommerce or WP eCommerce.

23. Deduct your business-use-of home expenses.

If you run your business from home, claiming at-home business expenses can actually save you a ton of money over the year. Don't forget to claim the business portion of your mortgage or rent, phone/internet and even utilities.

24. Go without the extras.

We all have little "extras" we spend money on every day (I'm thinking specialty coffees, in-app purchases, bottled water, etc.). Cutting out $5-$10 of daily unnecessary luxuries and impulse buys can save you $150-$300/month.

25. Become a marketing DIY'er.

Hiring a marketer can cost you a lot more than $250/month. If you have the time and interest, consider teaching yourself how to do your own marketing.







The Reasons Why Spending Money Buying Stuff Does Not Make You Happy As Spending on Experiences


Because they’re now the largest age demographic, I spend a lot of time researching and discussing millennials. What I’ve found most interesting about this demographic is how they prefer to spend their money on experiences over stuff.









Millennials "aren't spending our money on cars, TVs and watches," Taylor Smith, CEO and co-founder of Blueboard, told CNBC. "We're renting scooters and touring Vietnam, rocking out at music festivals, or hiking Machu Picchu."
This statement was backed-up by a study conducted by the Harris Group that found out that 72 percent of millennials prefer to spend more money on experiences than on material things.
The thing is, this isn’t exactly limited to millennials.
Researchers have been studying how people could allocate their money to make themselves happier. The assumption had been that spending money on material possessions would increase happiness because possessions last longer than an experience. A 20-year study by Dr. Thomas Gilovich, a psychology professor at Cornell University, found the opposite is true.
Dr. Gilovich is just one of several researchers who believe in the the Easterlin Paradox. This phenomenon simply states that after our basic needs have been met, money will only increase happiness to a certain point for the following reasons:

1. Happiness over material items quickly fades.

“One of the enemies of happiness is adaptation,” says Dr. Gilovich. “We buy things to make us happy, and we succeed. But only for a while. New things are exciting to us at first, but then we adapt to them.”
Psychologists call this "hedonic adaptation." In other words, the excitement of that new car, iPhone or furniture set will quickly fade into the background as they become a part of our daily lives. Experiences, like traveling, attending an art exhibit or trying a new restaurant become a part of our identity, which brings us greater satisfaction.
“Our experiences are a bigger part of ourselves than our material goods,” says Gilovich. “You can really like your material stuff. You can even think that part of your identity is connected to those things, but nonetheless they remain separate from you. In contrast, your experiences really are part of you. We are the sum total of our experiences.”

2. Experiences define your purpose and passions.

Your daily activities should be guided and influenced by your purpose and your passions, not material possessions.
Think of it this way. Let’s say that your favorite musician of all-time is Bruce Springsteen. Even though you have all of his albums, and some other items like shirts or posters, do all of those possessions top seeing The Boss in concert? Probably not. In fact, if someone offered you a front-row ticket in exchange for all of your Bruce memorabilia, you would probably take them up on that offer in a heartbeat.

3. Possessions don’t contribute to social relationships.

“We consume experiences directly with other people,” says Gilovich. “And after they’re gone, they’re part of the stories that we tell to one another.”
Do you bond more with other people when discussing material possessions or experiences? Think of Bruce again. When you run into a fellow fan, you have a certain bond and connection. You can talk about his music, the concerts you’ve attended and how much his music has positively impacted your life. That seems like a more in-depth and interesting conversation that discussing your cars, gadgets, wardrobe or even your Boss souveniers, right?
Social relationship expert John Hall, author of  the book Top of Mind, recently told me "Relationships are like ketchup -- only you can figure out if you need to have it on your burger or not." We can all relate to wanting or not wanting this.

4. Moments are more memorable.

While experiences are designed to be fleeting, they provide high level of arousal and memorability thanks to anticipation. Again, let’s revisit The Boss.
You hear he’s coming to town, so you mark your calendar not only for the date of the show, but also when tickets go on sale. You’re anticipating purchasing tickets and then attending a show after you’ve secured your tickets. Going to this show is an entire experience, not just a singular moment.

5. Experiences introduce you to a whole new world.

Unlike stuff, experiences introduce you to new perspectives, life lessons and the importance of gratitude. Take traveling, for example. If you live in New York City and travel to West Virginia, you may realize the pros and cons of living in the Big Apple. Even though there’s culture, public transportation and plenty to do, that weekend trip south made you appreciate nature, the quiet and the beauty of clear, starry nights.
You may realize and come to understand cultural differences. Even if you don’t agree with these points-of-view, at least you’ve walked away learning how to be more thoughtful, compassionate, humble, or grateful.

6. Stuffocation.

Do you have a garage full of stuff? That build-up of junk that you’ll never use can actually do harm to your mental health. This is because when our homes are filled with junk and clutter it increases our levels of stress.

7. It’s no fun keeping up with Joneses.

“The tendency of keeping up with the Joneses tends to be more pronounced for material goods than for experiential purchases,” says Gilovich. This is because, according to research from Ryan Howell and Graham Hill, it’s easier to feature-compare material goods than experiences.
“It certainly bothers us if we’re on a vacation and see people staying in a better hotel or flying first class. But it doesn’t produce as much envy as when we’re outgunned on material goods.”
In other words, spending money on experiences can decrease this envious behavior, which means that we’ll be healthier and happier in the end.
What makes you more happy? Money or experiences?







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