Welcome to Wise & Wealthy: A weekly newsletter full of proven ideas to become smarter and wealthier. I send this every Monday.
#92 – October 9, 2023
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Wise: Fear of better options
FOBO or Fear of Better Options is a psychological phenomenon where someone avoids making a decision out of fear that there may be a better option.
FOBO is the nagging feeling that there might be a better choice out there, which leads to analysis paralysis.
Have you spent a lot of time figuring out what to watch on Netflix only to look at the clock and realize it’s time to sleep?! Well, that’s what this is about.
Not watching content is not a big deal. However, when we let FOBO creep into our lives, it bleeds into more important areas like work, mental health, and our relationships.
Having FOBO makes decision-making stressful not just for us but for the people around us too.
In my latest article, I share how you can overcome that.
Wealthy: Book recommendations
I must be honest. I find it more difficult to dedicate longer periods of time to reading these days.
And when I talk to my friends, they tell me the same. I think that the barrage on our attention gets bigger every year.
This is why it’s so important to fight back and never let go of reading books.
I’m currently finishing Walter Isaacson’s new book on Elon Musk. Quite fascinating.
If you’re an entrepreneur you’ll find it valuable.
I still get my best ideas from reading books. Going to networking events or seeking out mentors is overrated.
Just read a lot of books!
One interesting thing
Many of us suspected it, but now a large study backs it up: A healthy lifestyle can prevent depression.
By examining data from almost 290,000 people — of whom 13,000 had depression — followed over a nine-year period, the researchers were able to identify seven healthy lifestyle factors linked with a lower risk of depression. These were:1Source: Science Daily
- Moderate alcohol consumption
- Healthy diet
- Regular physical activity
- Healthy sleep
- Never smoking
- Low-to-moderate sedentary behavior
- Frequent social connection.
All of these factors reduced the risk of depression by 22%.
Thanks for reading! I hope you found this edition of Wise & Wealthy useful.
All the best,
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