Posted: July 10th, 2009 | Author: Joelle Hann | Filed under: Frugal Resources, Money | Tags: Abacus Portfolios, Abacus Wealth Partners, archetypes, Brent Kessel, financial analyst, financial planner, frugal money, frugality, It's Not About the Money, yoga, Yoga Journal, Yoga Journal Conference New York | 1 Comment »
Brent Kessel
I thought it would be appropriate for a site dedicated to frugal living to hear a few words from someone who spends his days and nights advising people on their money–and helping them to use it better.
Financial planner Brent Kessel is the C.E.O. of Abacus Portfolios and President and co-founder of Abacus Wealth Partners. I met him at the Yoga Journal conference in New York in May, where he was presenting at the 2-day “business of yoga” workshop.
Kessel, a long-time yoga practitioner, has been able to combine his wealth of financial experience (pun intended) with the mental discipline and spiritual insight of his yoga practice to come up with some pretty fascinating theories on our relationships to money. And, some helpful techniques for taming the financial beasts within.
In his talk–and in his book It’s Not About the Money: A Financial Game Plan for Staying Safe, Sane, and Calm in Any Economy
–he outlined 8 major money archetypes as he sees them: the Guardian (worry/prudence), the Saver (hoarding/abundance), the Innocent (avoidance/hope), the Pleasure Seeker (hedonism/enjoyment), the Caregiver (enabling/empathy), the Idealist (distrust/vision), the Star (pretentiousness/leadership), and the Empire Builder (greed/innovation).
I was so fascinated that I took another workshop with him a few weeks after the conference. I found out (no surprise for a Frugaltopian) that I’m a Guardian and a Saver—also, to my surprise, an Idealist and a Pleasure Seeker.
Brent was gracious enough to agree to an interview with Frugaltopia. So, I’m happy to pass some of the super interesting insights outlined in his book “It’s Not About the Money” (Buy it! You won’t be sorry!) on to you, dear readers.
Interview with Brent Kessel
Frugaltopia: Do many people avoid looking frankly at their financial situation? If yes, do you know why?
Brent Kessel: Almost everybody avoids looking at some part of their situation. I call it their Money Mask. This is the part of us that hopes the world will see us a bit differently than we know ourselves to be. Most want to appear to have more income and assets than they do, primarily because in our culture, that’s synonymous with approval, success, praise. They are like a drug fix that allows us to avoid emptiness, restlessness, or sadness. However, because they’re ego-driven, they’re completely impermanent. So the only lasting solution becomes an addiction to more and more.
Frugaltopia: How did you come up with the idea of the 8 archetypes that best describe most people’s money issues?
Brent Kessel: Mostly just by observing the patterns that people get stuck in year after year, even if they sell a business or get a big inheritance. And these patterns are almost entirely based on past conditioning. It seemed an easy way to give us a common language for identifying our weaknesses and strengths, and to cultivate more balance.
Frugaltopia: Is there one archetype that seems to do better financially than others? Why is that, in your opinion?
Brent Kessel: It really depends how you define better. If it’s defined as increasing your net worth or financial security, it’s likely the Saver, or sometimes the Guardian. If it’s defined as voluntary simplicity, it’s probably the Idealist. If it’s using money to ease the most suffering in the world, then it’s the Caretaker.
Frugaltopia: Frugaltopians–the 4 of us who run Frugaltopia–are most likely Savers or Guardians, according to your system. (I’m both!) Are there any downfalls to being frugal?
Brent Kessel: The biggest downfall is when we believe that we can obtain ultimate security from our frugality or savings. They are impermanent too. It’s imperative that we stay in touch with our mortality, with the preciousness of life and how quickly security can vanish. This elicits compassion, which is the best antidote to the extreme Guardian (who’s overly anxious about money and safety) and to the Saver (who never gives money away for fear that they might need it one day.)
Frugaltopia: If there’s one piece of financial advice you could give to everyone, no matter what their archetype, what would it be?
Brent Kessel: Look beneath the surface. Your financial life is not dictated by interest rates, investment returns, or budgets. 99% of it is dictated by the unconscious beliefs you have about money. Use my book, or the Cure for Money Madness to uncover the parts you’re not yet aware of.
Thank you, Brent! Learn more about Brent and his work at his web site www.brentkessel.com.
Posted: June 28th, 2009 | Author: Kimberly McCaffery | Filed under: Friendship, Frugal Resources, Time Management | Tags: birthdays, e-cards, greeting cards, Hallmark, holidays, remembering birthdays | No Comments »
click to watch the adorable e-card Kim sent to her sister
I have a difficult time remembering important events like birthdays, weddings, and anniversaries. It’s a failing that bothers me greatly and probably bothers the people who are important to me even more. And it’s not just carelessness. I’m convinced that in this one area I have a yet-to-be diagnosed dyslexia–a simple failing of normal brain function, nothing personal.
Take my sister’s birthday for example–it’s today, and it’s not like I forgot about it. Not exactly. Back at the beginning of June I thought, “Oh, it’s June. Lesley’s birthday is at the end of the month.” Then later in the month I thought about it again. “Hmm, I should get a card.” I looked over the paper cards at CVS. Dismayed at the cheesiness of all of them, I decided to look again at a different store, which I never remembered to do. Anyway, today I woke up and thought, “Yikes, it’s the 28th and I never sent a card.” So I decided to look for an e-card (what else could I do?)
The last time I sent an e-card was for my mother’s birthday (which I forgot about entirely. Yes, I know, very bad daughter.) Anyway, it took me a long time to find a decent e-card because I had this idea that e-cards should be free. After a long search, I found a good one, but it wasn’t entirely free. Sending that “free” e-card signed me up for a relentless and impossible to get rid of mailing list that still plagues me twice a week.
So this morning I relented and took a look at the premium Hallmark e-cards. I was surprised and excited to find tons of stuff that I liked. Unlike the dismal sentiments paper cards proffer (they range from mildly offensive humor to sickly sweet poetry), the e-cards offered something more contemporary and relevant. They are funny yet tasteful, and they are extremely entertaining. After browsing their offerings, I concluded that e-cards had gotten better, much better, than paper cards. So I signed up for a one-year subscription. For only $9.99 I can send as many e-cards as I want. This is an amazing savings since nowadays, a nice paper card costs about $4.00, and a really nice card can cost as much at $7.00.
But the biggest benefit for me isn’t the cost savings, it’s this little gem:
Hallmark's e-card organizer
The Hallmark online organizer REMINDS me when birthdays occur. Never again will I have to suffer the embarrassment, the guilt, the shame caused by improper brain function (which I’ve been calling “important-day dyslexia”). Hallmark e-cards are going to do more than just provide me with fun, affordable, convenient cards–they are going to save me from myself!
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Posted: June 22nd, 2009 | Author: Jen Laskey | Filed under: Dining, Fashion, Frugal Resources, Travel, Wine | Tags: cheap European travel, Depression-era prices, Free NYC Summer Events, Frugal cheap NYC Bars, frugal cheap NYC restaurants, frugal fashion, frugal newsletters, Frugal NYC foodies, frugal travel | No Comments »
You can Google “frugal,” but that won’t necessarily lead you to these newsletters (or their companion sites). Here’s to finding frugality in some unexpected places!
Tasting Table – The writers of Tasting Table keep me filled in on all sorts of NYC foodie fodder. Their mission is “to deliver the best of food and drink culture to adventurous eaters,” and while that usually inspires worth-the-splurge editorial (in this city, anyway), Tasting Table also offers a fair amount of frugally-minded suggestions for everything from recession-friendly dining deals and cheap $2 tacos to drinks at Depression-era prices and recipes for culturing your own curds.
Epicurious – Because I like making food and assembling meals and I like pairing them with wine or cocktails (and I even like to do all of this on the cheap, whenever possible)…
…because it’s often cheaper to prepare my own food than to pay someone else to do it…
…and because Epicurious sends me recipes from Bon Appétit and Gourmet (which I no longer buy)…
I am a longtime subscriber to the Epicurious newsletters. They currently offer 2 versions. The first, Recipe Flash, is more food and recipe oriented, while the other, Tasting Notes, focuses on wine reviews and pairing recommendations.
Fodor’s Travel – While Fodor’s may still be suffering from its reputation as, well, your parents’ travel guide, I urge you to look at Fodor’s with a fresh eye. Their editorial and design has really changed for the better over the last few years. And I’m not just saying that because I sometimes write for them (though not for their newsletters). I recommend checking out Fodor’s because their editorial focus has shifted to include more sophisticated drinking and dining coverage, a better range of offerings (in general), more compelling features, full-color guidebooks, and a vibrant community. Fodor’s isn’t as interested in traveling on the cheap as they are in getting you the most for your money, but with that being said, their newsletters often offer value-conscious features that are beneficial for both the tourist and the local, alike. Here are a few recent ones for our fellow New Yorkers:
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