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About the Dumbest Money Mistake You Can Make
Emotion rocks unless it dominates your life and risks your livelihood
You can’t remove emotion from most money equations. You can only hope to contain it. To properly channel the bits and pieces that bubble to the surface.
This sane, logical, and sound strategy has a dark side. That’s what this article is about. The dark side that can render you insolvent or close to it.
Emotion influences most aspects of life. We can’t pick and choose where emotion impacts and helps direct our trajectories. Sometimes emotion makes us uncomfortable. Like at the beginning of a relationship with someone we really like. Or in a conflict, you‘d prefer to avoid. Tense as it may be, this discomfort helps situate our stories. All these feels give the world soul.
Emotion belongs in personal finance and investing. The gurus say you must remove emotion from the equation, especially when investing your money. There might not be worse advice. It’s like telling a teenager not to drink or have sex.
You can’t suppress psycho-emotionally fueled behaviors. But you can learn how to recognize the way you feel and how you might respond. This gives you the opportunity to pause, collect your thoughts, adjust, and act accordingly.
