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Hey <<First Name>>,
I got a late start waking up this morning, and the first thing I see on my phone is my coworker warning me to not check stocks today. Too late, because I already was in my Mint account. But all my account connections haven't updated for days, and it's probably better for my mental health if it stays that way for a while. I have no idea how much money I've lost on paper, but I'm not panicking yet. In fact, as mentioned in today's money diary, I recently made a potentially bonehead move of taking all the money out of my savings account and using it to invest even more. Reminder: everyone has their own risk tolerance. Mine is much higher than the average person's, so keep that in mind if you look to me to guide your own financial decisions.
Speaking of money moves, I've been reading The Millionaire Next Door, and one section highlighted a millionaire trait that I never really thought about:
"Millionaires allocate their time, energy, and money efficiently, in ways conducive to building wealth."
It seems obvious, but it kind of blew my mind. As I was writing my money diary, I realized there are so many "inconvenient" things I do in the service of managing my money. Not choosing the first option I see. Instead of sitting around in my pajamas (as much as I want to!), getting dressed and going to open a bank account. Taking a few minutes to ask to return something that's final sale. If they say no, oh well! While I know that some people won't care to do these things, if you don't mind your money, you also can't expect to build exponential wealth.
In the wake of economic turmoil, and health scares, one way to try to feel OK is to look for ways to gain financial control. It could be curbing your consumption temporarily. Or looking for a small money win. Or upping that side hustle for extra money.
In behind-the-scenes news, I've been working on a pitch for a sponsored post. Even if nothing happens, I am enjoying the creative process of putting something together from scratch that I am really proud of, and stays true to me. Anyway, if it works out, I'm excited to share with you!
Stay well (and wash your hands a lot),
Luxe
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