I have a memory from elementary school where my teacher would tell me to sit on my hands and be quiet when I disturbed the class. I was a pretty restless kid as I recall.
The “be quiet” part of this sentence seems pretty obvious, but today I’d like to focus on “sit on your hands” and its benefits when it comes to your money.
Your money is a lot like a bar of soap: the more you handle it the smaller it becomes. So sitting on your hands, figuratively speaking, is an important aspect of preserving and growing your money over time.
Yet this advice most often goes against every instinct in the most primitive part of our brains.
Whether it’s the anxiety associated with living paycheck to paycheck, or the stress of watching the investment markets seemingly toss your hard-earned savings and investment to and fro, money issues can trigger fear responses in our brains. This can lead us to a hardwired “fight or flight” reaction. (more…)