One of my best read (and Forbes.com Editor’s Choice) articles last year was about how the financial health crisis in this country is hurting our physical and mental health. When this happens, our financial health can be stressed even more, causing the circle to begin again with even worse effects. We can turn these vicious circles … Read more
Can financial education/coaching break the financial stress, declining health cycle? In a previous article, I outlined three vicious cycles affecting financial stress, physical and mental health. They are vicious because, once financial stress occurs, the health impacts can lead to yet more stress, which can further impair health, causing additional financial stress as the cycle begins … Read more
Feedback loops are powerful forces of nature. Melting polar ice caps reduce the earth’s reflectivity, causing it to absorb more heat from the sun, which accelerates the melting. The cumulative, accelerating aspects of such loops make it imperative to break the cycle before it gets out of control. Below, I identify three feedback loops among financial … Read more
When I exercise, get a check-up, get my flu shot or skip dessert (too rarely), I do it because I’m supposed to. I have a vague impression that the cost, pain or other inconvenience I experience today should be more than offset by savings or other benefits in the future. One thing I’ve never done, which … Read more