Welcome to Wise & Wealthy: A weekly newsletter full of proven ideas to become smarter and wealthier. I send this every Monday.
#70 – May 8, 2023
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Wise: Asking “why”
Sometimes it’s a waste of time to ask “why” you or someone else did something.
And it’s always a waste of time when you ask why certain things happen to you in life.
The truth is that we don’t have the answers to everything. People sometimes don’t even know why they did something.
“Why did you say that?” You might ask your partner, friend, or co-worker. Well, sometimes we don’t know.
Instead of trying to explain or understand everything, move forward.
Just say, “Next!”
Because, whether you question things or not, without action, there’s no outcome at all: So you might as well act instead of ask.
Wealthy: Remove emotions from money
On Saturday, I watched the 2023 Berkshire Hathaway annual shareholder’s meeting.
“Have we ever made an emotional decision?” Warren Buffett asked his long-time business partner and friend, Charlie Munger.
Munger, as dry as he always is, answered without thinking:
“NO.”
Buffett said that he had never made an emotional investment decision in his life. And Munger agreed.
This was my favorite takeaway from their annual meeting. And it doesn’t come as a surprise. Buffett and Munger are famous for their rational decision-making.
When it comes to financial decisions, we must act like robots. We can’t let emotions get in the way.
The question is: Can you learn how to remove emotions from your decision-making process?
I talk about that in my latest article
↳ Warren Buffett: Be an Emotional Person, Just Not With Your Money
One interesting thing
A recent study found that the human brain wires itself according to its native language. The study concluded:
“Just one month of learning a new language can lead to more engagement of the brain’s right hemisphere and greater interaction between the two hemispheres.”
This shows how learning a new language is a great way to keep the brain engaged.
Living in a different country — even not permanently — can help rewire your brain to appreciate what you currently have and see a perspective you didn’t have before.
Thanks for reading! I hope you found this edition of Wise & Wealthy useful.
All the best,
Darius
Join the 5-day Financial Freedom Challenge
I created a 5-day email course you can do alone or together with a group. It’s called the Financial Freedom Challenge. And it will help you to gain control over your finances.
Most people try to calculate their way out of poor finances. But money problems aren’t rational. They’re emotional. Manage your emotions well, and you’ll manage your finances better.
How to Unlock the Financial Freedom Challenge
You can join the challenge for free. For five days, you’ll receive a short email with a small challenge that inspires you to improve your relationship with money.
I highly recommend sharing it with your friends/family so you can go through the program together. It helps bring perspective. And it’s more fun that way too.
Join here for free: dariusforoux.com/financial-freedom