Thanksgiving: A Look at Gratitude and Finances

There are a lot of great traditions families have when it comes to Thanksgiving. Sometimes it’s food related, such as a secret family recipe for candied yams, deep frying a turkey, or just knowing exactly what dishes to expect at the table. Perhaps your family always participates in a local Turkey Trot race, or watches the Macy’s Thanksgiving Day Parade, or takes turkey coma naps after the big meal.

There are all kinds of traditions that our families look forward to every year on Thanksgiving, but gratitude is something that can be practiced and expressed every day of the year, and can actually have a positive impact on your finances.

Have a Path and a Plan

Key Takeaways

  • When you have to make a financial decision that could have a long term effect on your financial future, you want to have a path and plan in place.
  • Some of the big decisions you want to be clear about are taking on student debt, buying a house, a car, or any other expensive item, and looking at tax deductible and tax deferred options.
  • Seeking counsel on putting a path and plan together from successful individuals and professionals versus asking your peers or going it alone, will ensure you make sound financial decisions.

Simplify Your Life the 4D Way

Key Takeaways

  • There are a lot of things in our lives that cause us to get distracted, to be unproductive, and to get frustrated and overwhelmed.
  • Using the 4Ds – Do it, Delay it, Delegate it, and Destroy it – is a very helpful way to reduce the extra noise and work in our lives.
  • Taking the time to identify our frustrations and distractions and then categorizing and organizing them can help us reorganize our lives and feel a lot better.

The Emotional Decision Dilemma

Key Takeaways

  • If you are angry or emotional about something, you usually end up making bad emotional decisions, especially when it comes to money.
  • You need to come up with a pre-set technique such as counting to ten or taking big breaths to disrupt your emotions and bring you back to reality to make a good decision.
  • Having a technique to disrupt your emotions helps immensely when it comes to making financial decisions as it can keep you from making costly decisions and keeps you on track to grow your wealth successfully.