Are you as over this as I am?
Plus the golden prenup and what I'm reading, listening to and watching
Friends,
I have given advice to parents (and readers of my book, “Launching Financial Grownups”) that we should teach our kids that just because we can afford something, doesn’t mean it is the best use of our money.
So I felt validated by this story in The Wall Street Journal laying out the case for why the ultra rich, who absolutely CAN afford super high priced luxury goods, are saying “we’re so over it” as prices have skyrocketed.
Among the highlights:
They’re not abandoning designer labels out of necessity, but out of principle.
It’s not just about paying less. Shoppers get a thrill from finding independent brands before their friends do.
This social coup even comes with a social-media hashtag, #IYKYK (“If you know, you know”)—often posted on Instagram photos of cult-favorite labels.
Whether we realize it or not, our spending decisions are influenced by more than our own personal money values. I loved reading this piece because it made me feel like, heck yeah, I’m just like the ultra super duper rich—I’m also NOT buying the $6,500 handbag, and it is not about affording it. It’s about having agency over my own personal financial decisions.
That’s something we highlight in both our workshops and our consulting practice at Financial Wellness Strategies.
Get in touch to learn more by emailing us at hello@financialwellnessstrategies.com or scheduling a free consultation. Or just message me!
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Phew. Glad I was right about the prenup thing.
So happy for Theresa Nist. After announcing their split, the Golden Bachelor couple confirmed they did have a prenup.
They claim they could not decide where to live. It’s a pretty basic question for financial grownups who should have talked about it before the big day.
Here’s a checklist from The Knot of things couples should do before getting married. What else do you think financial grownups should be clear on before tying the knot?
This week’s poll:
Reading, listening and watching recommendations
Some of these will be money-related but some will just be things I want to share because I think you will enjoy them.
Reading: The Sicilian Inheritance by Jo Piazza
The book combines romance, murder and history all in one…here is a great review in The New York Times.
The book also has some money lessons about proper documentation and estate planning…
You can order a copy here.
The premise:
A woman going through a business failure and a divorce is sent to Sicily after her aunt passes and leaves her some intriguing clues about the mystery behind her great-grandmother’s mysterious death. Did her great grandmother really pass away from natural causes as was officially reported? Or was she murdered.
There might be valuable land she will inherit if she can prove her great-grandmother actually owned the property. But whether her great-grandmother actually owned that land is in question because back in the day women apparently could not own land. Seriously.
Listening: Money is Emotional hosted by Christine Luken
Want to chat about your money-related emotions? I’m here for you!
I now offer a limited number of free mini-consulting sessions for the financial grownup community. Learn more here.
Schedule your free consultation HERE.
Watching: Palm Royale starring Kristen Wiig
As a new resident of Florida (although a little south of Palm Beach) how could I resist?
From Variety: “Palm Royale” follows bottle-blonde Palm Beach transplant Maxine Simmons (a perfectly cast Kristen Wiig), who is determined to craft a glitzy and glamorous life for herself, even if it means bending the rules a smidge. Wildly outrageous and amusing, “Palm Royale” suggests that you might get more than you requested if you’re delusional enough to go after what you want.
Spoiler alert: Your jaw will drop when you find out the TRUE purpose of all their high-society galas. And YES, there is a big money angle.
Unfortunately Apple TV+ rolls this one out one episode a week so it’s been a binge-challenge. I find myself waiting anxiously for new episodes to roll out. There will be 10 episodes total and new ones drop on Wednesdays. Mark your calendars!
Will they be ready to be financial grownups when they go to college?
Pick up a copy of “Launching Financial Grownups: Live Your Richest Life by Helping Your (Almost) Adult Kids Become Everyday Money Smart” so you can be ready to get your kid ready when they head off to school!
“Launching Financial Grownups” will teach GEN X-ERS AND BABY BOOMERS how to help younger generations including Millennials and Gen Z become financial grownups. We all have a stake in their success.
The book is full of ways to open the conversation about money and guide those next-generation emerging adults to live their best financial lives.
And yes, it makes a GREAT gift for parents, grandparents, and anyone in an older generation looking to learn how to help emerging adults.
Want more?
I do both in-person and virtual book chats (in addition to the Financial Wellness workshops) and am actively scheduling for summer and fall 2024. I love talking to parent groups, book clubs and at company events.
Please invite me!
Email me at bobbi@financialwellnessstrategies.com and we’ll make a date.
Lets connect on TikTok, Instagram, and LinkedIn and please share any ideas in the comments (or just say hi!).
Results from last newsletter’s poll following my very complimentary take on Gwyneth Paltrow’s financial savvy. But you can’t read it anymore.
Gwyneth’s lawyers sent a cease and desist letter to me! I wrote about how she took out a mortgage at what must have been a really good interest rate…it was sourced from a number of very public articles. You can still Google it. Apparently it was private info. Don’t bother looking for the post—I had to take it down. We know she is litigious…and the letter from her lawyer was really scary.
Know any friends that might like to read stuff certain celebrities don’t want you to know (all in the name of money lessons)?
Please share this post and tell them to subscribe!
Oh, and as for the poll, she tied for last…The Swifties dominated!
I hope this note provided value and smiles!
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