Money can’t buy happiness, but the absence of money can cause unhappiness. Money buys freedom: intellectual freedom, freedom to choose who you vote for, to choose what you want to do professionally. But having “f*ck you” money requires a huge amount of discipline. The minute you go a penny over, then you lose your freedom again. If money is the cause of your worry, then you have to restructure your life.

We tend to picture "f*ck you" money as a minimum hurdle. What's your "f*ck you" money amount?$100K? 1M? $5M? $100M? Everybody has a different answer."F*ck you" money, in our heads, is a singular point. Once we cross it, life's problems melt away. When you have X amount of money, you can say "no" to things that you don't want to do. Nobody owns you. Your life is wholly yours. You have the ultimate degree of freedom.

What We Believe Is F-U Money

The reality isn't filled with straight lines that we can extrapolate forever. Reality is messy, full of nuance. The reality of "f*ck you" money isn't a singular point to cross, but a range to stay between. A dollar too much, and you descend back below that threshold. The formula is reversed, and additional wealth comes at the expense of additional freedom. Sure, you might be "rich" financially, but you don't have "f*ck you" money.

What F-U Money Really Is

<ul><li>A small increase in wealth leads to a massive increase in happiness when you have little, and massive increases in wealth hardly move the bar as net worth increases.</li><li>Poverty puts your destiny in the hand of circumstances that you often have no control over because poverty doesn't allow you any financial flexibility.</li><li>Poverty keeps individuals trapped in dead-end jobs because they can't afford to leave and look for something new. Poverty turns medical emergencies into financial catastrophes. </li></ul>

Being Poor Sucks

As your income grows, outside circumstances lose their grip on your life. If you have $50,000 saved up, you can weather seven months of unemployment, afford to repair your truck's transmission, and cover emergency medical expenses.If you have $50,000 saved up, you can quit your job and take a leap of faith to try something new.If you have $50,000 saved up, you have options.

Some Saved Money Helps With Options

Did billions of dollars make Elon Musk miserable? Did Warren Buffett, Bill Gates, and Jeff Bezos suffer failed marriages because of their $100B net worths? Not necessarily. However, the traits that made them so successful both financially and professionally have also made the other aspects of their lives a living hell.No one is superman, and we are all limited by time and energy. If you invest maximum effort into your career, your personal life has no choice but to suffer.

Being (Too) Rich Can Also Suck

Life is defined by opportunity costs. The opportunity cost of reaching the pinnacle of professional success is often a lacklustre family life. It's not necessarily that money destroys relationships, but the dedicated effort needed to achieve this success comes at the expense of other (often family) aspects of one's life.A singular drive to succeed professionally often yields a life where one's only success is in their profession.But it's not just the opportunity costs associated with the success that plague the ultra-rich, it's the magnification of every aspect of their lives.

No One Can Have It All: Understanding Opportunity Costs

Past a certain point, freedom of speech is a casualty of personal success.Money affects the dynamics of one's interpersonal relationships as well:<ul><li>When you are rich, new "friends" that seem genuine pitch you investment ideas four months into the "friendship". </li><li>Your dating life is compromised by bad actors that are more concerned with your wallet than your personality. </li><li>Family members come out of the woodwork asking for financial help.</li><li>Your private life quickly becomes a public life as your wealth and fame balloon. </li></ul>

The Loss Of Freedom And Genuine Relationships

If you are "publicly rich" (think athletes, authors, movie stars, politicians, etc.), you no longer have a private life. Everyone wants a piece of the public figure, for better or worse.If you are "privately rich", you still run the risk of sacrificing other areas of your life for the sake of success. You could have all the money in the world and be a prisoner to your ambitions. What good is $100B if all of your relationships are in shambles? Money can't buy true friendship, camaraderie, love, or desire.

Being Too Rich Is Like Being In Extreme Poverty

F*ck you" money is pure, unadulterated freedom with no strings attached.<ul><li>"f*ck you" money means you can do whatever you want. </li><li>"f*ck you" money allows you to travel wherever you want, whenever you want. </li><li>It means not having to check your bank account before buying something that you want. </li><li>It means that you make enough money through activities that you enjoy to cover all of your expenses without having to go to an office.</li><li>It will mean that you can't be "employed", because you won't need to work for someone else. </li><li>It will mean that you, and only you, will dictate the terms of your labour.</li></ul>

The Meaning Of F-U Money

moneyandinvestments

Money & Investments

"F*ck You" Money

Two ways this can be done:<ol><li>Subscriptions to the platform or to a specific creator subscription allow users to select different things based on their level of engagement</li><li>Reduce reliance on brand sponsors and increase the authenticity of creators. The drawback is the content reaches fewer people</li></ol>

VIP Membership Subscriptions for personalized content

Pinterest pioneered this field, but TikTok and Instagram are now moving into the ‘space’ as wellIncentives for both fields align when the creator is seen as an expert in the field the product is coming from

Commerce: Platforms that help creators sell their product

Typically one-time purchases are to a specific live event. The PPV model of boxing. A relatively new medium that has been accelerated by COVID-19

Virtual live experiences

These companies allow users to interact with people who have shared interestsCan be done for fitness, mental health, career guidance, etc.Platforms act as matchmakers and users are the community that people seek in that specific field

Internet-based paid communities

Popular in China and in video gamesAmong Us, a popular game, uses these to personalize a character despite the game being freeBeyond gaming, there has been little adoption in the US

Digital goods and in-app purchases

Livestream tipping has become a $10 billion industry in China. Twitch uses this in the US for videogame streamers. The downfall to this is that the tipping can be an inconsistent stream of revenue

Tipping, donations, and microtransactions

While the traditional ad model has worked well for social platforms in the past, new entrants have found new ways to monetize beyond targeted ads.

From VIP subscriptions to next-level ecommerce, here’s how social companies are skirting the traditional ad model.

business

Business

startup

Startups

Six Ways New Social Companies Will Monetize | Andreessen Horowitz

​Millennials and Gen Zers have an addictive new way to buy stuff that would look familiar to their great-grandparents. “Buy now, pay later” is a type of consumer credit that really got going in the 19th century when Singer sewing machines were sold for a “dollar down, a dollar a week.” But the modern fintech twist in “BNPL” is that it’s aimed at people making impulse purchases of fashion or jewellery or electronics rather than sofas or refrigerators. It’s delivered through apps that are wildly popular, leading to dizzying valuations of startups like Amazon, Zomato etc.

BNPL is the way? 

​Buy Now, Pay Later (BNPL) is a type of short-term financing that allows consumers to make purchases and pay for them at a future date, often interest-free. Also referred to as "point of sale instalment loans," BNPL arrangements are becoming an increasingly popular payment option, especially when shopping online.

Defining BNPL

​‘The India Buy Now, Pay Later Report 2021’ by ZestMoney gives an overview of the Indian BNPL ecosystem, global best practices, and the way forward for the industry in India, along with revealing consumer preferences and how Indian states took to BNPL.​The report shares insights such as while most of the customers (median) were in the 23-26 years group, BNPL emerged as the preferred option for people across age groups with the youngest customer being 18 years old and the oldest at 66. The number of millennial and GenZ customer base increased by 2X and 3X respectively.

India Buy Now, Pay Later Report, 2021

​If you have been using Amazon pay later, Flipkart pay later services, then please read ahead.​If you borrow from AmazonPay later account, they divide it between two lenders: CaptialFloat and Karur Vyasa bank. Now two loan accounts will show on your credit report which has reduced my credit score.​What most people don't realize is BNPL are like unsecured loans. Most confuse these for Credit Cards. Both have separate use cases. One spoils your credit history, the other builds it if used wisely.

​How BNPL is messing your CIBIL Score

Millennials and Gen Zers have an addictive new way to buy stuff that would look familiar to their great-grandparents. “Buy now, pay later” is a type of consumer credit that really got going in the 19th century when Singer sewing machines...

Using BNPL Services? Your credit score is being affected.  - Advisoira

From groceries to gas, prices are up on a multitude of items — including one particular consumer staple: eggs.There’s a lot of chatter around exactly why inflation is relatively high, not only in the United States but globally. Some people blame the pandemic, others the supply chain, others government spending, others corporate greed. The truth of the matter is that there is a mix of factors in play, and there’s no one simple answer to how we got here — or solution to how to get out of this. To the average person, the whole thing can feel confusing.

Explaining Inflation

The <a href="https://www.bls.gov/news.release/cpi.t02.htm">Consumer Price Index</a>, which measures the average change in prices paid for things like food, clothes, housing, and transportation, was up by 7.5 percent overall over the past year as of January. The price of eggs, according to the measure, was up by 13.1 percent.The cause of the egg price increases we’re experiencing now is more of a production issue than a demand one, though both are in the mix. Egg prices depend in part on the chickens that lay the eggs — and currently, they’re more expensive to feed.

The Consumer Price Index

The egg industry, like every industry, is facing higher prices and challenges that are leading to costlier eggs for consumers overall.According to USDA data,the average year-to-date price on Grade A large eggs was $1.46 a dozen, which is up from $1.01 a dozen in 2021 and $1.00 a dozen in 2020. Because eggs are one of the ingredients in so many food items, you can see how all of this could push prices up on other things, too.

The Egg Industry

Increased freight costs are contributing to higher prices as well. Trucks to get the eggs from point A to point B are more expensive, as is fuel (likely becoming even more so now, thanks to the <a href="https://www.vox.com/the-goods/22949683/russia-ukraine-gas-prices-oil-inflation-stock-market">Russian invasion in Ukraine</a> and subsequent sanctions). Moscogiuri estimates that freight up 30 to 40 percent can translate into an extra 10 cents a dozen.

Transportation Costs

Everything is getting more expensive because everything else is, including when it comes to eggs. Like it has all industries, the pandemic has shaped the story of the egg market over the past two years, and that story hasn’t been a linear one. When the pandemic hit, there was a big spike in demand for eggs. People were cooking more at home, and eggs are often an item people could easily buy and store.The carton companies are struggling to make deliveries. Everybody’s raising their prices on everything, from cartons to corrugated boxes to the plastic wrap that goes around the eggs.

The Pandemic And The Egg

Looking at the <a href="https://beta.bls.gov/dataViewer/view/timeseries/CUSR0000SEFH;jsessionid=26858E8F3C34E557BABA917F3F9E18CE">Consumer Price Index month to month</a>, you can see how egg prices have bounced around during the Covid-19 outbreak. The CPI for eggs jumped by 15 percent in April 2020 and then fell in May, June, July, and August. The price drop is in part because the early days of the pandemic curbed demand for eggs and egg products from restaurants and fast food companies and food service operations, even while people were buying eggs at the store.

Month On Month CPI

As corporations and states start to push for eggs from cage-free chickens, that is pushing prices up, too. Essentially, it’s pricey to be nicer to chickens.Consumer demand for cage-free eggs has grown, though it’s not everyone’s priority. However, when regular eggs are more closely priced to cage-free and organic eggs, consumers start to opt for the slightly fancier option.

It’s Expensive to Be Nice to Chickens

Eggs don’t paint the full inflation picture in the US, but they do a part of it — it’s more expensive to feed chickens and move eggs around, so it’s more expensive to produce and move eggs, so it’s more expensive for consumers to buy eggs.They also help highlight the difficulties of solving the inflation problem. The egg industry isn’t wildly concentrated, so there’s not really a singular Big Egg to lean on to bring prices down. It’s also not the case that consumers flush with cash have been pouring their stimulus checks into eggs.

The Bottom Line

From groceries to gas prices, inflation is showing up across the economy. An explanation of the dynamics of inflation, explained by chickens and eggs.

Discover the world of business and economics.

economics

Economics

Inflation, explained by eggs

<ul><li>Most big cities in the United States have a few of these Bitcoin machines</li><li>Identify yourself with a phone number and a Bitcoin wallet</li><li>You will be texted a code so you can move forward</li><li>Once you have put money into the machine, it will ask for the address of where you want it sent</li></ul>

How to Use a Bitcoin ATM

This is a way to get involved without having to risk identity theft by providing so much documentation to relatively new entities like Coinbase and BinanceThe Bitcoin ATM means you can put a little money in overtime, but stay away from identity risks exchanges representDo your own thorough research before making any investment decisions.

Why use one?

It is a legitimate question, Why use a Bitcoin ATM anyway? The fees seem higher than on the exchanges. One reason is privacy

crypto

Cryptocurrency

Why Use a Bitcoin ATM?

<ul><li>Banks are in the business of making money, even if that means charging you to deal with money that's yours.</li><li>The concern is that consumers aren't able to effectively comparison shop because of practices such as drip pricing or hidden pricing that hide actual costs.</li><li>There's only so much we can expect out of private banks - which is why some experts say the public sector, like the post office, would be a better option.</li></ul>

Spending Money To Access Your Own Money

<ul><li>Banking fees are associated with access to the payments system and all of the products and services that come along with that.</li><li>Some people in the banking industry say that measures such as overdraft fees are meant to deter customers from overspending.</li><li>In the past, banks have used overdraft protections (and fees) in their marketing to try to entice customers.</li><li>These are businesses, not governments, and it's not clear that banks should be in the business of trying to police behaviours through fees.</li><li>Overdraft fees are almost pure profit.</li></ul>

When Banks Have You, They Have You

Experts have advocated for <a href="https://scholarship.law.uci.edu/faculty_scholarship/695/">postal banking</a>, which would essentially turn the US Postal Service into a place that would <a href="https://www.vox.com/2014/8/14/5989767/postal-banking-questions">also offer basic banking services</a> like checking accounts, savings accounts, and payments. The idea is that it would <a href="https://www.vox.com/recode/22243799/post-office-delays-postal-banking-usps-reform">reach and serve as an option for the unbanked</a> and offer lower-cost options for transactions than private banks, such as low-fee ATMs and check cashing. <a href="https://www.gillibrand.senate.gov/news/press/release/senators-gillibrand-and-sanders-reintroduce-postal-banking-act-to-fund-united-states-postal-service-and-provide-basic-financial-services-to-underbanked-americans">Postal banking has been proposed on Capitol Hill</a>, but thus far, it hasn’t gotten very far legislatively.

The Alternative: Postal Banking

There’s all sorts of advice out there about how to avoid bank fees that encourage consumers to be savvy and shop around. But the reality is not everybody has the time or energy to do that work.

Why it costs money to get your own money

Rents are going up, but brokers insist that negotiations are still possible, even in a competitive market.Call your landlord at least three months before the lease expires and ask whether the rent will be going up. This will give you time to negotiate and consider your options. Here are some tips from the experts.

Rents Going Up

Vacancies cost landlords money — they lose rent while they clean, paint, repair and show the apartment. And they may have to pay the broker’s fee, too. A new tenant might be noisy or not pay on time. Point out these risks, and ask for a compromise.Perhaps you could shave $100 a month off the increase. Or, find other ways to save. Ask for an 18-month or 24-month lease to lock in the terms for longer. If you pay a pet or amenity fee, perhaps the landlord might waive one.

Playing To Your Strengths

Do your research on rentals in the building, on the block and in the neighborhood to make sure the renewal price your landlord is offering is fair and in line with the current market. Leverage that data in conversations with your landlord.Moving is not cheap. Calculate how much it will cost you to move, factoring in a moving van, a broker fee and other associated costs. Then calculate the increase over the course of the year and decide whether or not you’ll come out ahead if you stay or if you go.

Do Your Homework

Brokers insist that negotiations are possible, even in a competitive market. Here are some tips from the experts.

marketingandsales

Marketing & Sales

How to Negotiate Your Rent (Which Is Probably Going Up)

The typical peak for renting is from May to August when school is out and the weather is more suitable for a move. It's not uncommon to see higher prices during these months, which is why some suggest looking earlier or later in the year. Ensure to make a list of the must-haves, the nice to haves, and the things that aren't a priority.

Get the best price

Using an agent can help navigate through unknown territory. They have a good understanding of each landlord's reputation. They can help weed out the duds, schedule appointments, help organise paperwork and make it an enjoyable experience.

Make use of an agent or broker

Negotiation is best done by a well-trained agent, however, you should still have some knowledge on things such as comparable appraisal characteristics, number of days on the market, and competition of similar spaces.

Don't be afraid to negotiate

Location is more important than square footage. For example, the apartment may have no closets but might be in the right neighbourhood. If you're planning to stay in your rental for longer than a year, a bigger space may be more important than the location. If you're considering a smaller space, calculate your rent with your roommate based on room size to determine if the apartment is worth it.

Location is more important

Rentals are not hard to personalise. Options to fix a temporary place are endless, such as removable wallpaper, swapping out light fixtures, using curtains, or disguising ugly floors with stick-on tiles. Some renters are willing to upgrade the apartment with new floors or a new kitchen at their own expense. They need to notify the owner of the changes, but owners generally agree to improvements.

Make your mark on your space

Renting is a great option for those living with roommates or young families. However, it is important to be well-informed before signing the lease. 

When it comes to renting, people have a lot to say about you should and shouldn't do. We talked to the real estate experts to get the facts straight.

personaldevelopment

Personal Development

The Best (and Worst) Renting Advice We’ve Received

Crude oil prices play a primary role in setting gasoline prices. Crude oil is a raw commodity that is used to manufacture gasoline. The price of crude oil accounts for 56% of the price of gasoline in the decade through 2020, on average. Not all grades of crude oil are useful for making gasoline. Lighter crude is less dense and will make more gasoline per barrel than heavy crude. Sweet crude has lower sulfur content and more preferable to sour crude with more sulfur.

Oil Prices: The Crude Reality

Refiners need to be paid to distil crude oil into gasoline and add the required additives. In the decade through 2020, refining costs and profits accounted for 14% of the retail price of gasoline, on average. Seasonal and regional blending requirements and additives such as ethanol add to the cost. The price of wholesale gasoline also reflects supply and demand. For example, gasoline prices typically rise in the summer in the US due to higher demand.

Refining Has a Price

Once crude is refined into gasoline, the fuel has to be shipped to a storage tank, from where it will eventually be distributed to local gas stations. The gas stations require staff and maintenance. Distribution and marketing costs accounted for 14% of the U.S. retail price of gasoline in the decade through 2020, on average.

Distribution and Marketing

State and local taxes accounted for 16% of the retail gasoline price in the decade through 2020. Federal taxes and fees were 18.4 cents per gallon for gasoline and 24.40 cents per gallon for diesel as of July 1, 2021. State taxes averaged 30.63 cents per gallon for gasoline and 32.29 cents per gallon for diesel as of the same date.

Taxes

Consumer demand also plays an important role. U.S. gasoline consumption fell in 2020 during Covid-19 restrictions but has mostly rebounded. As of October 2021, 10 gallons of gasoline cost the equivalent of about 3.1% of weekly per capita disposable income, down from 4.8% in 2011.

Consumer Demand

Gas prices respond to crude oil prices, refining and distribution costs, and changes in demand. Discover what determines the price at the pump.

What Determines Gas Prices?

<ul><li>The first rule to follow when lending money to a family member: Assume they will never pay you back—and be OK with that.</li><li>And here's the first rule to follow when borrowing money from family: Pay them back.</li></ul>Money always seems to get uncomfortably personal; there's a power shift in the relationship: The lender becomes more powerful—you see yourself as more responsible. That puts the borrower in a one-down position, which can breed resentment.

Rules to follow when lending/borrowing money to family members

You are under no obligation to say yes on the spot when a family member asks for money—no matter how dire their situation is. <ul><li>Say, 'I would love to be able to help you. Let me think about whether this is best for me.' </li><li>Pause and reflect before answering. Taking even a few minutes gives you time to formulate key follow-up questions in your head. </li><li>You need to know how much they need, why they need it, and what their income expectations are now and for the future. </li><li>Get a sense of whether they can repay you and what their timeline is for that. </li><li>Then take two to three days to respond.</li></ul>

Take time to think about it

Before you get back to the borrower with an answer, you need to consult your partner or spouse if you have one, especially if the amount is substantial given your financial picture. As with all difficult subjects, open communication is key, particularly if your partner isn't as willing to write a check as you are. If your partner is simply not on board with the loan, the deal is off. Marriage is a financial partnership. The partner who doesn't want to lend likely has veto power.

Discuss it with your partner

<ul><li>Lending money is nearly always a bad idea. Anytime you can say no, do so. Even if the person pays you back, you've opened a door that will never close again. You become the bank—it changes how your relative looks at you and how you look at them.</li><li>The experts agree that there are two cases in which you should refuse: if you simply can't afford it, or if the person has a history of borrowing from you or others and not repaying. </li><li>You probably won't feel awesome after refusing the loan. Own those feelings. Then tell them, 'For me, right now, this is the best decision.'</li></ul>

Trust your gut if it’s telling you to say no

If you can't afford to help, say no. Your job is to make sure you're on track to achieve your own financial goals. No one will care more about your money than you.

Don't lend money you don't have

Focus on your loved one's underlying financial issue and see if you can help address it. Help them find the resources they need or create a budget. Addressing the underlying issue doesn't just benefit your cash-strapped family member. It also helps you, by ensuring they don't come knocking on your door in six months, looking for more money.

Do offer to help in other ways

Yes, "gift." There's no other way to look at it, agree McCoy, Castro, and Hendershott: When you lend money to someone—even your closest, most trustworthy sibling—you must assume they will never pay you back and make your peace with that. "It would be nice to think they can and will repay you, and lots of people do," says Castro. "But if you think of the money as a gift, you will be free of any resentment or weird feelings the next time you see them at a family party. It's better for you to continue in your life without holding a grudge."

Feel good about giving this gift

Just because potential lenders should think of the loan as a gift doesn't mean borrowers should treat it as such. When you ask someone you love and trust to give you their money, it's a sign of respect to present a thought-out repayment schedule. Have a real conversation about how the loan will get repaid and when. Once you start talking about money, it only takes about five minutes for the conversation to become less awkward, and you can talk about it like the numbers on paper that it really is.Putting the loan terms in writing can go far to promote peace of mind and reduce resentment.

If you’re hoping to borrow, come armed with a payback plan

Lending money to a relative does not give you a free pass to criticize their spending going forward. Let them be free to do whatever they want with the money, and don't judge them for it. You need to see that person on their own journey and bring compassion, love, and acceptance to the table.The best way to let go of toxic, judgmental feelings is to remind yourself you gave a gift, not a loan—even if it appears your child is blowing your "gift" on new shoes.

Withhold judgment

When you ask a family member for a loan, treat it as a loan. Adhere to the payback schedule. And if you can't, start looking at plan C (because borrowing from a family member was already plan B). Renegotiate the terms with your relative so you can keep your promise to pay. If that's not enough, get a part-time job, sell some physical belongings, ask for a raise. You'll be glad you did, for the sake of your relationship with your family—and your peace of mind.

Stick to the payback plan—or revise it if needed

Lending money to family (or friends who are like family) isn't easy. If you're going to share your money with your parents, siblings, children, or another family member, consider these tips for lending money to family to keep your relationship intact. Here's how to lend money to family without ruining your relationship(s).

habits

Habits

communication

Communication

loveandrelationships

Love & Relationships

How to Lend Money to Family Without Ruining Your Relationship(s)

Find 100+ Ideas and Facts about Money - Curated from interesting sources like Books, Podcasts & Articles - Genuine Insights from like-minded Users like You!