How Smart People Can Make Dumb Choices & The Serious Dangers of Social Media

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Something You Should Know 48 min 2 speakers 5 chapters transcribed 1 day ago
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Mike Carruthers 0:00
There is one word I think gets people in trouble with money. It's probably. I'm probably spending about this much every month. I'm probably saving enough. I'm probably on track for retirement. Probably is not a financial plan. I've been using Monarch. It's a personal finance app that puts your whole financial picture in one place. And it replaces probably. With actual numbers. For example, Monarch showed me that our spending last month jumped about 30% from the month before. 30%. We had some home repairs, but none of the bills seemed like a big hit at the time, but put them all together and wow. But I didn't realize how much our spending had jumped until Monarch showed me. And I think that's how money can get away from you.
Mike Carruthers 0:51
It's not necessarily one giant expense that sets off alarm bells, it's all the things that add up that you don't really notice. That's what I like about Monarch. You can see your Spending, accounts, investments, and savings goals all in one place and see what's really going on with your money. If you're operating on probably, maybe it's time to find out, write your own money story with Monarch. Use code SYSK at monarch.com to get your first year of Monarch Core half off at just $50. That's $50. fifty percent off your first year at monarch.com with code SYSK. Today on something you should know, some things you really need to throw out right now, and I promise you'll never miss them. Then we'll explore the reasons why really smart people can make amazingly stupid choices.
Christopher J. Ferguson 1:49
Choices. Generally speaking, when we're in a period of experiencing heightened emotion, we tend to make worse decisions. The more frightened we are, the more angry we are. Even with positive emotions sometimes, the more excited, the more happy we are, we tend to make worse decisions.
Mike Carruthers 2:05
So what could happen to your pets if you die? I don't think you really know. And too much social media can mess with your brain, and it's not just a
Brian Boxer Wachler 2:16
kid problem. The sobering statistic is that about 21% of adults admit to being addicted to social media. So it's definitely more pervasive than people think, especially in adults.
Mike Carruthers 2:30
All this today on something you should know. A big thank you to today's sponsor, Vinted. I think most of us have what I call someday clothes. I'll wear that someday. That'll fit better someday. Someday I'll have a place to wear that. Meanwhile, it's been hanging in the closet for three years. Vinted offers another possibility. Sell it. Every day people can sell clothes they're no longer wearing and make some extra money. And they've made the process pretty painless. Take what you don't wear, list it on Vinted. Listing is quick and simple. And when an item sells, Vinted creates the prepaid shipping label for you. And importantly, there are no seller fees on Vinted. So when you sell something, you keep everything you earn.
Mike Carruthers 3:22
I like this whole idea because instead of clothes just taking up space, somebody else gets to wear. them and you get some money out of the deal. Your closet looks better too. I mean everybody wins, even the closet. So maybe it's time to stop waiting for someday. Download the Vinted app for free and start listing with no seller fees so you keep everything you earn. Something
Dr. Nate Zinsser 3:51
you should know. Fascinating intel. The world's top experts. And practical advice you can use in your life. Today, something you should know with Mike Carruthers.
Mike Carruthers 4:05
I know you have some things in your house. I know what they are, and I'm about to tell you to get rid of them. Hi, I'm Micah Ruthers. Welcome to another episode of Something You Should Know. So look, we all accumulate stuff. We all accumulate the same stuff, and we all have the same tough time throwing it out, even though we don't need it or want it. And here are a bunch of those things that you almost certainly have that you can toss out right now and free up some space in your home. First of all, that extra pack of buttons that came with that shirt that you don't even have anymore. You can throw that out. Old holiday cards, old Christmas cards, birthday cards, graduation cards.

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