Image courtesy of ICanHasCheezburger
This week we’ve got 11/11/11 news, managing money during pregnancy, how to go “cold turkey” with finances, something called “hyperbolic discounting,” Oscar turmoil and flying with a hawk. Huffington Post: 11/11/11: The Greatest Binary Day Of All – Happy Nigel Tufnel day! Actually it falls on Veteran’s Day for the U.S. and Canada (Remembrance Day), so it’s also time for serious reflection. But this only comes around every century or so, so people are enjoying themselves, because this day goes to eleven. As the post says, weddings are up for this day. Who knows what the day will bring? Me, when 11:11 rolls around I’m going to think to myself: Oh, neat. Wild stuff. The Daily What’s got a good round-up of other 11/11/11 celebrations.
Mint: 5 Financial Things I’m Doing Differently Now That I’m Pregnant – Pregnancy really seems like a time to spend a lot of money, rather than cut back. I’ve got a nephew on the way, and they’re pouring money into fixing their house–and, of course, getting the nursery ready. Gifts only cover so much. When it comes to a baby, it’s the kind of thing where no expense seems too high. But you’re also savings-minded because a baby will alter your finances forever. Some good tips here on steps to take during pregnancy–and during pregnancy is a good idea, because after the baby’s born, there’s less time and energy to deal with these issues.
Wise Bread: The Two Biggest Mistakes People Make When Starting to Live Frugally – It’s important to realize there’s a fine line between a habit and an addiction. “Addiction” sounds like a really heavy word reserved for the worst sorts of behaviors, but this isn’t totally the case. TV can be an addiction, the internet can be an addiction, and spending money can be way more than a “bad habit.” So if you’re changing these behaviors, going “cold turkey” can be detrimental: it’ll seem too hard and so you’ll give up. Easing yourself into the frugal lifestyle is the best bet–even if you’re facing financial difficulty. Panic doesn’t make for sound financial choices either.
MoneyNing: How Hyperbolic Discounting in Behavioral Economics Explains Your Irrational Money Choices – Another post about the psychology of savings which is just as important a consideration as which debt to pay off first. Never heard of “hyperbolic discounting” before. It’s a fancy term for instant gratification. The test: most people would rather have $50 now than get $5 a month for a year, which amounts to more money. It’s pretty much the entire principle behind credit cards: you can have something hugely expensive now and pass off that debt to your future self. Someone there makes a comment that this might even be a basic human instinct: we hoard now as a survival mechanism. True, but we’ve also got minds of our own so hopefully we can out think our instincts.
Reuters: Oscars bring back Billy Crystal – There was turmoil this week when Brett Ratner was ousted as producer of the Oscar telecast, with Eddie Murphy quitting soon afterwards. Now Billy Crystal is hosting, who hasn’t made a movie in…how many years? Checking IMDB: it’s been a while, mostly animated stuff. It seems like a gig no one wants, because why not someone like Will Ferrell? Anyway, controversy can be a good thing for ratings, and maybe this will mean more will watch this year.
What do you think? Happy with the Oscar move?
Video of the week: paragliding with a hawk.