The MOAM Weekly Review

Top posts from this week to help you make better money decisions

Hi, My name is Ben Le Fort, creator and editor of Making of a Millionaire, a Medium publication dedicated to helping you use money to live your best life.

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Quote Of The Week

"Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble." - Warren Buffett

Best Of The Week On Medium

They Traded $1,800 Rent For A $4,150 Mortgage, Now They’re ‘Having Panic Attacks’

Jonathan and Shalom in Seattle … just swapped their $1,800 a month rent for a $4,150 mortgage payment. As a result, Jonathan says he’s started having near nightly panic attacks and the couple is fighting over whether to buy furniture …

They bought based on real estate marketing and not what they can afford.

You can’t make this shit up.

But you can predict it.

Read The Article

The Sneaky Way Credit Card Companies Get You to Spend More Money

When I get a letter from my bank offering me an increased limit on my credit card, I’ll be honest: it’s a bit of an ego boost.

It feels good, especially since I spent most of my 20s repairing my badly damaged credit score after the financial crisis.

But, if you get a similar letter from your bank offering you an increase on your credit card limit — think twice before blindly accepting it.

Read The Article

How I Learned to See Myself as a Growth Stock

Once upon a time in the bustling Asian finance capital, Singapore, I was busy handling portfolios and analyzing stocks at a prestigious bank for super wealthy clients.

Just like the market bell rings at 9 am and ends at 5 pm, I led the life of a hard-working banker-bee, making sure to receive rewards for my academic paper degrees, acquired skills, and unwavering dedication to my work.

And then, one spring afternoon, the bank gathered its employees for a crucial meeting. I sat among my peers, eager for the wisdom our boss had to share with regards to some questions about our latest bonus round.

The boss began:

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The Financial Freedom Equation is now available on Amazon

Get Your Copy Here.

New On Substack

In addition to editing the Making of a Millionaire Publication on Medium, I publish a solo-publication of the same name on Substack, which is where you can get early access to my new articles. Here's one of those new articles you can't find anywhere else.

We Need a New Definition of "Financial Literacy"

Yes, it’s important to have knowledge about financial issues, and the good news is that there are loads of resources to obtain financial knowledge.

But, many people with financial knowledge still make poor financial decisions. Knowledge alone is not enough. Improving financial behavior is key to improving your financial outcomes.

Financial literacy is knowing what to do.

Financial behavior is doing it.

Read The Article

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Cheers,

Ben

Founder of Making of a Millionaire

Author of The Financial Freedom Equation & The Rational Investor

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