"My interview with Ariane was nothing but smooth, professional, and a hell of a lot of fun. Not the usual 20 questions. Highly recommended." -Timothy Ferriss, #1 NY Times bestselling author of The 4-Hour Workweek
Read More Testimonials»

On the Finances Blog

Bankruptcy: The Power of the Clean Slate

It doesn’t take many clicks online to find writing and advice on how to shape up your finances, even First30Days has a great financial advice section found here. There are...

Read More About Bankruptcy: The Power of the Clean Slate»

Our Having More Money Experts

Douglas Andrew

Douglas Andrew

Owner and President of Paramount Financial Services, Inc.

Shared by First30Days View Profile»
Barbara Corcoran

Barbara Corcoran

Founder of The Corcoran Group and real estate contributor...

Shared by First30Days View Profile»
Lee Brower

Lee Brower

Wealth trainer, consultant and author

Shared by First30Days View Profile»

Meet all of our Finances Experts»

News

The latest news on this change — carefully culled from the world wide web by our change agents. They do the surfing, so you don't have to!

Blame It On the Brain

You know that you could have more money if you stopped spending and held on to your money. So why can’t you just do it already?

It might just be how you’re wired. CNN reports that three separate studies have shown that subjects would rather have something now than wait for something later—even if what comes later is better. That’s because the payout has to be huge for your mind to justify the delay. What’s worse is that the longer the waiting period, the less attractive the gain is. An NYU study shows that to the average Joe, getting a crisp $20 now is preferable to receiving $23 in three weeks or $40 in three months. No word on whether all the test subjects were poor students simply in need of a little cash…

So how can you cheat what seems to be in your nature and help yourself save for the future? It’s not easy, but you can try having friends hold you accountable or make small savings goals for yourself that will reward you in the near future with a desired vacation or minor purchase. Chances are if you can wait for that, you’ll be able to learn to wait a little longer for the things you’ll want later on. [CNN]

Posted: 3/25/08