Money Archives | Shortform Books

Precommitment as a Strategy for Self-Control

Why does Nir Eyal say it’s important to make precommitments to yourself? How can making a price pact help you stay accountable to your goals? Indistractable author Nir Eyal says that precommitments help lock you into traction and keep distractions out. One precommitment strategy he mentions is to make a price pact with yourself. Price pacts make distractions tangible and give you a monetary incentive to stay on track. Here is Nir Eyal’s price pact precommitment strategy in detail.

How to Get Wealthy: Making Money is a Journey

Are You a Prodigious Accumulator of Wealth?

Do you aspire to get wealthy one day? Where does one even start when it comes to building wealth? In life, you get what you focus on, and the same is true for wealth. To become wealthy, choose to become wealthy. This requires a fundamental shift in mindset, but once you’ve made this shift, you will be better attuned to spotting opportunities and aligning your actions accordingly. Here are some tips on how to get wealthy, no matter your current financial situation.

Behind the Beautiful Forevers: Asha’s Charity Scams

How Beautiful Forevers Asha Embraced Charity Scams

What are charity scams? How did the character Asha get involved in charity scams in the book Behind the Beautiful Forevers? Charity scams are when a charity fundraiser diverts the majority of the money collected from donors for personal use. In Behind the Beautiful Forevers, Asha used her nonprofit as a vehicle for government officials to divert funds meant for a school education program. She planned to make money from her share of the stolen funds. Read on to discover how the desire to escape poverty drove Asha to participate in charity scams.

Why Annawadi Residents Tried to Marry into Money

Why were the residents of Annawadi trying to marry into money in the book Behind the Beautiful Forevers? What strategies did they use to find wealthy suitors? The residents of Annawadi wanted to marry into money so they could attain economic security and climb the social ladder. Residents like Manju tried to improve their appearance and build their social networks in hopes of expanding their marriage prospects. Read more to discover how Annawadi’s residents like Manju tried to marry into money.

How to Fix the Health Care System in the United States

How does the American health care system work? How does it differ from the systems in other developed countries? And why are so many Americans dissatisfied with the way it functions? Unlike most developed countries, the United States does not provide free health care to the population. Instead, American citizens are covered by either private or public health insurance, or a combination of both. This article takes a look at the main problems with the health care system in the United States and lists several ways it could be fixed.

Economics Basics: What Are Negative Externalities?

What are negative externalities? What do governments do in an attempt to control them? Negative externalities are costs incurred by non-involved parties as a result of an economic transaction. To prevent negative externalities, governments may impose externality charges. This article takes a look at negative economic externalities and how governments determine how to levy them on the consumer.

Why Donate to Charity: Tithing 101

Why donate to charity? What causes should you support? Do you think everyone who can afford it should donate a portion of their income to charity? Though growing your wealth is a worthy goal, so is sharing your wealth to help make the world a better place. Not only does it benefit charitable causes, but it is also deeply rewarding for you. Read about the benefits of sharing your wealth through tithing.

The Psychology Behind the Stock Market

How do investors make money in the stock market? What factors do they use to base their investment decisions? According to economist Tim Harford, stock market psychology is a nearly random walk that trends upwards. A report that says that stock prices will go up tomorrow, for example, will make stock prices go up today because people will buy them expecting them to go up tomorrow. In this article, we’ll explain the basics of stock market trading, how prices are valued, and how investors decide what stocks to invest in.

How to Let Go of Limiting Money Beliefs

Do you find that money is hard to come by? Do you try to hold on to every dollar and almost never splurge to treat yourself? Where do you think these limiting money beliefs come from? Making enough money to enjoy the lifestyle you want can help you feel successful. But it’s easy to let limiting money beliefs and unhelpful behavior gets in the way. In this article, you’ll learn how to change your thinking to better position yourself for financial success.

How to Increase Your Income: 5 Actionable Strategies

Do you want to make more money without piling on overtime? What is the best way to increase your income? To build your wealth, you can either spend less of your earnings or earn more. Earning more is better because it allows you to save money for retirement while not having to forgo things you want to buy in the present. This article offers some suggestions for how to increase your income.

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