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Here’s How Financial Education Can Improve Your Health

Five takeaways:

  1. A new American Journal of Lifestyle Medicine study shows that intentional awareness and knowledge of topics relating to personal finance—including learning about credit cards, saving, and overall money management— is directly tied to improved health.
  2. The study found that participants who completed a financial success program (FSP) had significantly reduced medical costs, higher rates of smoking cessation, and, of course, reduced financial strain.
  3. Reduced financial strain results in individuals having the means to engage in a healthy lifestyle: to purchase healthy foods, live in nicer areas, go to gyms, and obtain more hands-on medical care.
  4. Survey after survey shows that financial stress is the leading cause of stress in the United States, and that stress has hugely negative effects on overall health. People under significant financial stress are more likely to engage in unhealthy habits such as smoking, drinking, and unhealthy diets.
  5. Kortney Ziegler, PhD, Stanford University CCSRE Race & Technology Practitioner Fellow and CEO of WellMoney, urged readers to pursue greater financial understanding today– noting that huge educational resources are available online for free.

From Alyssa Hui at Health:
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This site may contain links to articles or other information that may be contained on a third-party website. Advisory Services Network, LLC and MAP Strategic Wealth Advisors are not responsible for and do not control, adopt, or endorse any content contained on any third party website. The information and material contained in linked articles is of a general nature and is intended for educational purposes only. Links to articles do not constitute a recommendation or a solicitation or offer of the purchase or sale of securities.

Predicting the Future with Bayes Theorem

Five takeaways:

  1. This article explores Bayes Theorem, which provides a useful framework for integrating probability into your daily decision making.
  2. If a friend rolls a dice and covers it, and asks you to guess the #, your chance is 1/6. If they then say that it is an even #, your chance becomes 1/3. If they then say that it is not 4, you know you have two possible guesses and a 50% chance of guessing correctly. You have used new information to assess the situation and make the most educated guess possible: a Bayes-ian analysis.
  3. The Bayes Theorem involves conscious use of all relevant, up-to-date information in building probability as you make a decision. It forces us to pause and consciously open our thought process beyond the initial gut reaction.
  4. Using Bayes Theorem can be helpful in reminding you that immediate perception is imperfect. It reminds you to take a step back from initial judgment and assess all contexts involved in a decision.
  5. Someone who rejects Bayes-ian theory instinctively rejects new information, relying on preconceived notions. They are less likely to change their mind on anything, and thus more likely to lose out on productive discourse and decision making.

From Fs Blog:
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This site may contain links to articles or other information that may be contained on a third-party website. Advisory Services Network, LLC and MAP Strategic Wealth Advisors are not responsible for and do not control, adopt, or endorse any content contained on any third party website. The information and material contained in linked articles is of a general nature and is intended for educational purposes only. Links to articles do not constitute a recommendation or a solicitation or offer of the purchase or sale of securities.

The Problem With ‘No Regrets’

Five takeaways:

  1. While a “no regrets” mindset might sound freeing, it falsely suggests that life can and should be lived without “looking through the rearview mirror.”
  2. A 2020 study of 15,000 people in 105 countries showed that 82% percent of respondents said they feel regret occasionally; 21% said they feel regret “all the time”; and 1% said they never feel regret.
  3. While being overwhelmed by regret is unhealthy, forcing yourself to completely do away with regret completely will curse you to repeat your mistakes
  4. Brooks cites a recent book by Daniel H. Pink that breaks regret into four different types:
    • Connection regret– regret over harmed or broken or lost relationships
    • Moral regret – regret over the violation of your own values
    • Foundation regret – regret over decisions that had a profound effect on your life (like wishing you had not moved to a city, or picked a different college major)
    • Boldness regret – regret over inaction or foregone opportunities
  5. Regret can overwhelm you, but shunning them is a lost opportunity to grow. We must learn from every aspect of our lives.

From Arthur C. Brooks at The Atlantic:
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Note: At the time of this posting The Atlantic offers five free article views per month.

This site may contain links to articles or other information that may be contained on a third-party website. Advisory Services Network, LLC and MAP Strategic Wealth Advisors are not responsible for and do not control, adopt, or endorse any content contained on any third party website. The information and material contained in linked articles is of a general nature and is intended for educational purposes only. Links to articles do not constitute a recommendation or a solicitation or offer of the purchase or sale of securities.

Those Who Share a Roof Share Emotions

Four takeaways:

  1. It is scientifically proven that feelings are contagious– our moods affect the moods of those around us.
  2. One study of college students matched up depressed and nondepressed roommates, and found that on average, nondepressed roommates would soon start showing signs of depression– as early as five weeks after moving in.
  3. In cases where loved ones might be depressed or unhappy, we naturally want to help them weather the storm; Brooks offers tips for maintaining your own mental health while helping to bring happiness back to those around you:
    • Work on your own happiness first: you can’t help others to be happy when you yourself are miserable!
    • Do not take it personally: view a loved one’s unhappiness the way you would view a cold. Random & temporary. You are not to blame.
    • Use the element of surprise: spontaneity is your friend. Unhappy people will usually resist the feeling of being force-fed happiness.
    • Prevent the spread: control negative feeling by strategically avoiding the other person, and be conscious of your own mood when you speak with the other person.
  4. Unhappiness of those around us can indeed be contagious, but we don’t have to treat it like the pandemic. Unhappiness is inevitable, and when approached correctly can be an opportunity to “grow in love” for someone else.

From Arthur C. Brooks at The Atlantic:
Read the whole story.

Note: At the time of this posting The Atlantic offers five free article views per month.

This site may contain links to articles or other information that may be contained on a third-party website. Advisory Services Network, LLC and MAP Strategic Wealth Advisors are not responsible for and do not control, adopt, or endorse any content contained on any third party website. The information and material contained in linked articles is of a general nature and is intended for educational purposes only. Links to articles do not constitute a recommendation or a solicitation or offer of the purchase or sale of securities.
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