I hope you are all doing well. This week I am trying a new format. This email is more of a newsletter than a blog post. I have still published a blog post this week and you can find a description of it and a link in the newsletter below. I am excited to switch things up a little and hope you like it too. Please do give me your thoughts on the new format. Now on to this week's newsletter.
💭Idea From Me
Praising someone for their ability or talent sounds like a nice thing to do, but research from Carol Dweck shows that this will put people in a fixed mindset and this will lead to lower performance in the future. Instead, you should praise people for their effort, this will put them into a growth mindset and allow them to keep improving and getting better. If you want to learn more about growth mindset, you can read this blog post called Navigating Life where I described it in more detail.
🖋Quote of the Week
The Enlightenment writer and philosopher Voltaire on the fact that human nature never changes:
"History never repeats itself; man always does"
🎧Content I Have Enjoyed This Week and Recommend
Twilight of the Aesir from Dan Carlin's Hardcore History. Hardcore History is my favorite history podcast and Dan creates massive podcasts a few times a year where he tells different stories. This episode focused on the history of Vikings in Europe during the early Middle Ages. The podcast is extremely well-researched and you learn a ton listening to it, but more than anything the storytelling is phenomenal! If you want to listen to the episode you can find it here.
✍This Week's Blog Post
This week I wrote a blog post about the book The Psychology of Money by Morgan Housel. Here is my description of the main ideas from the book in 3 sentences.
- Reasonable investing might be more effective than rational investing because humans are not rational and our investing strategy should reflect this.
- Personal finances are personal, find what works for you and your psychology, and don't worry too much about what others are doing.
- Don't let your lifestyle costs run up whenever you get a higher income, instead keep your spending below your income to build wealth.
I hope you enjoy receiving my posts weekly and will like the new format. Have a great week and you will receive another email next Monday!