Optimism Can Wreck Your Finances


Optimism is generally a good thing. It’s good to look toward the future with hope and confidence. Research shows that optimists tend to be happier and live longer than pessimists. Optimists are healthier and deal with adversity better than their pessimistic counterparts. That’s all great news but unfortunately, being too optimistic can be detrimental to your finances. How can something so good be bad?

When you’re optimistic, you tend to think that things will go your way, that you’ll be able to do anything you set your mind to, and that you’ll be able to weather any changes or negative events with style. And that may be. But it often isn’t. Optimism goes


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2 Responses to Optimism Can Wreck Your Finances

  1. Great food for thought article.

    This line literally gave me a nice smack:

    “Optimism goes wrong when it leads you to buy things you won’t use or stick with.”

    I have to constantly keep that line in mind when grocery shopping. I get in the produce section and over do it then
    watch as money is literally thrown away. I’m getting much
    better though. I only buy what can be eaten in the next
    few days.

  2. Minny says:

    Oh yes. Many here in the UK bought holiday homes in Spain and France, during the boom times of course. The cost of both selling and buying in these places is between ten and seventeen percent. If the property costs $100,000 that is at least £10,000 simply in charges before you start paying running costs.

    It has to be said that the running costs alone will pay for two weeks somewhere nice!

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