Once a week.
Subscribe to our weekly newsletter.
How to make healthy financial choices every day, according to a financial psychologist
How reframing your emotions and changing your daily behavior can help you save money.
- There is a psychological connection between your emotions and your spending habits. Many people live in a "reactionary" mode where they spend money in reaction to the day's events.
- Living in "intention mode" can help you reframe daily financial decisions - "how will this get me closer to my future goals?"
- Financial psychologist Dr. Tracy Thomas shares her tips for harnessing the power of emotion and intent to create a healthy, financially stable life.
How your emotions drive your financial habits
Your feelings and emotions deeply affect your financial habits...learn how to control them for better financial decision-making.
Image by Lightspring on Shutterstock
Dr. Tracy Thomas is a psychologist and self-proclaimed emotional scientist who helps highly driven, emotionally sensitive people harness their emotional strength to live an elevated life.
"At one time," Thomas explains, "emotional-sensitivity was believed to be a weakness. However, new work into emotional sensitivity reveals that emotionally sensitive people aren't just overly-emotional, 'touchy' or 'hyper-sensitive'. Without knowing it, they actually possess an incredible gift of creativity, intelligence and intuition."
Your feelings deeply affect your financial habits.
When emotionally sensitive people combine their gifts with drive and motivation, it becomes an asset that can lead them to wealth, success, and happiness.
There is a psychological connection between your emotions and your spending habits. As human beings, our emotions drive most everything we do — and the choices we make with our money are deeply affected by how we interact and react to things that happen in our lives.
Living in reaction is something we do most of the time, according to Dr. Thomas. When we're in a reaction, we tend to create chaos. We aren't able to harness our emotional energy into creating positive investments and outcomes.
Living in reaction means that we're often simply reacting to our immediate situation, immediate wants, immediate "needs" with little thought to the needs of our future self.
The more reactive you are, the more you will simply "engage with life" instead of investing in building the life you truly desire.
Acting with intention when it comes to your financial life doesn't mean removing all emotion from the situation at hand. In fact, you are just redirecting those emotions.
To act financially with intention, Dr. Tracy Thomas suggests that we consider what our future self would want us to invest in today. Making emotional choices doesn't have to be a bad thing - as long as those emotional choices live to serve you in the future instead of in the moment.
Living in a state of reactivity also creates distractions. We are sidetracked from our original, long-term goals and lose sight of what we really care about. Ridding your life of financial distractions can help you focus your energy on giving your future self what they desire most.
Changing the way we think about finances
Reframe what it means to "save money" into something that is more positive by placing emotional meaning in your investments.
Photo by ShutterOK on Shutterstock
Most people, according to Dr. Thomas, are reactive by nature. We react to our immediate emotions, needs and desires - often putting our long-term goals at risk. The first step in changing the way you interact with money is recognizing that there are emotions and behaviors in your life that need to change.
Monitor your behavior: Am I going to be intentional or reactive today?
A big part of this change, Dr. Thomas says, is monitoring your daily behavior and really taking note of when you are reactive and when you are intentional.
From there, you will be able to identify healthy and detrimental behaviors that are affecting your ability to live a financially healthy lifestyle.
When you go to spend any of your money, Dr. Thomas suggests you ask yourself these kinds of questions:
- Is this an intention? If so, what is my intent with this purchase?
- Is this a reaction? If so, is this a valid reactionary expense or something I can avoid?
- How will this purchase (or lack of purchase) bring me closer to my future goals?
- Will this decision create my desired outcome?
Think about money as a motivation, not a restriction.
Thinking about money in terms of "savings" can feel restricting and often unmotivating. However, thinking about money in terms of "motivation" for your future goals (whether that be a house, a car, a trip, etc) can help you reframe what it means to "save money".
In your mind, no longer is "saving money" something you "have to do" - it's something you want to do. Saving money becomes a goal in itself, rather than something that feels like a burden or responsibility.
Refocus on what you are really invested in by adding meaning to your investments.
Reframing what it means to save money includes refocusing on what your investments are, both financially and emotionally.
If you are currently invested in a home in which you want to do major renovations, that can be a financial motivator. Saving money (to later spend on renovations) will increase the value of your home.
If you are currently investing in a trip for your family, this can be a great emotional motivation. Creating life-long memories and providing a fun vacation for your loved ones is a wonderful goal to keep in mind that will help pull yourself out of reactionary choices and help you think more rationally when it comes to saving money.
The importance of thinking about your savings on a deeper, emotional level
According to Brian Tracy, a leading sales, management, and business success advocate, one of the most important things we can do to better our financial choices is to become a life-long student of how to save money.
Investing is about more than just what's in your bank account - it's a way of life.
Dr. Tracy Thomas also believes that changing the way we view our savings (and money, in general) is about more than just making smarter decisions with the money we have - it's about changing the way we view money at all.
"Your savings goals are really your outcomes for your life. It's about creating something you really want." says Dr. Thomas. If you spend your life in a reactive process, savings tends to lack the powerful drive that successful, wealthy people give to it.
While impulsive, emotional purchases are key signs of bad spending habits, there is merit to pulling yourself out of that reactionary spending mode and still maintaining and emotional intelligence when it comes to your spending habits. Completely separating your emotions from your finances can only make things more difficult, as there are no motivating, impactful meanings behind your financial decision-making processes anymore.
The key is to take yourself out of emotional reactionary spending and still maintain an emotional motivator to creating a healthy financial life.
Thinking about your finances as a powerful and emotional driving force that will create a better life for yourself and the things that are important to you in your life (your business, your family, etc) can make things more cognitively clear when it comes to making day-to-day financial choices.
"The budget is not just a collection of numbers, but an expression of our values and aspirations." - Jacob Lew
- Why We Make Bad Decisions About Money (And What We Can Do ... ›
- Why Lesbians Are Better At Saving Money - Big Think ›
- 5 realistic ways to save money - Big Think ›
- Personal finance in the COVID-19 era, with Sallie Krawcheck - Big Think ›
- Personal finance: Save, spend, and be rational about money - Big Think ›
Inventions with revolutionary potential made by a mysterious aerospace engineer for the U.S. Navy come to light.
- U.S. Navy holds patents for enigmatic inventions by aerospace engineer Dr. Salvatore Pais.
- Pais came up with technology that can "engineer" reality, devising an ultrafast craft, a fusion reactor, and more.
- While mostly theoretical at this point, the inventions could transform energy, space, and military sectors.
The U.S. Navy controls patents for some futuristic and outlandish technologies, some of which, dubbed "the UFO patents," came to life recently. Of particular note are inventions by the somewhat mysterious Dr. Salvatore Cezar Pais, whose tech claims to be able to "engineer reality." His slate of highly-ambitious, borderline sci-fi designs meant for use by the U.S. government range from gravitational wave generators and compact fusion reactors to next-gen hybrid aerospace-underwater crafts with revolutionary propulsion systems, and beyond.
Of course, the existence of patents does not mean these technologies have actually been created, but there is evidence that some demonstrations of operability have been successfully carried out. As investigated and reported by The War Zone, a possible reason why some of the patents may have been taken on by the Navy is that the Chinese military may also be developing similar advanced gadgets.
Among Dr. Pais's patents are designs, approved in 2018, for an aerospace-underwater craft of incredible speed and maneuverability. This cone-shaped vehicle can potentially fly just as well anywhere it may be, whether air, water or space, without leaving any heat signatures. It can achieve this by creating a quantum vacuum around itself with a very dense polarized energy field. This vacuum would allow it to repel any molecule the craft comes in contact with, no matter the medium. Manipulating "quantum field fluctuations in the local vacuum energy state," would help reduce the craft's inertia. The polarized vacuum would dramatically decrease any elemental resistance and lead to "extreme speeds," claims the paper.
Not only that, if the vacuum-creating technology can be engineered, we'd also be able to "engineer the fabric of our reality at the most fundamental level," states the patent. This would lead to major advancements in aerospace propulsion and generating power. Not to mention other reality-changing outcomes that come to mind.
Among Pais's other patents are inventions that stem from similar thinking, outlining pieces of technology necessary to make his creations come to fruition. His paper presented in 2019, titled "Room Temperature Superconducting System for Use on a Hybrid Aerospace Undersea Craft," proposes a system that can achieve superconductivity at room temperatures. This would become "a highly disruptive technology, capable of a total paradigm change in Science and Technology," conveys Pais.
High frequency gravitational wave generator.
Credit: Dr. Salvatore Pais
Another invention devised by Pais is an electromagnetic field generator that could generate "an impenetrable defensive shield to sea and land as well as space-based military and civilian assets." This shield could protect from threats like anti-ship ballistic missiles, cruise missiles that evade radar, coronal mass ejections, military satellites, and even asteroids.
Dr. Pais's ideas center around the phenomenon he dubbed "The Pais Effect". He referred to it in his writings as the "controlled motion of electrically charged matter (from solid to plasma) via accelerated spin and/or accelerated vibration under rapid (yet smooth) acceleration-deceleration-acceleration transients." In less jargon-heavy terms, Pais claims to have figured out how to spin electromagnetic fields in order to contain a fusion reaction – an accomplishment that would lead to a tremendous change in power consumption and an abundance of energy.
According to his bio in a recently published paper on a new Plasma Compression Fusion Device, which could transform energy production, Dr. Pais is a mechanical and aerospace engineer working at the Naval Air Warfare Center Aircraft Division (NAWCAD), which is headquartered in Patuxent River, Maryland. Holding a Ph.D. from Case Western Reserve University in Cleveland, Ohio, Pais was a NASA Research Fellow and worked with Northrop Grumman Aerospace Systems. His current Department of Defense work involves his "advanced knowledge of theory, analysis, and modern experimental and computational methods in aerodynamics, along with an understanding of air-vehicle and missile design, especially in the domain of hypersonic power plant and vehicle design." He also has expert knowledge of electrooptics, emerging quantum technologies (laser power generation in particular), high-energy electromagnetic field generation, and the "breakthrough field of room temperature superconductivity, as related to advanced field propulsion."
Suffice it to say, with such a list of research credentials that would make Nikola Tesla proud, Dr. Pais seems well-positioned to carry out groundbreaking work.
A craft using an inertial mass reduction device.
Credit: Salvatore Pais
The patents won't necessarily lead to these technologies ever seeing the light of day. The research has its share of detractors and nonbelievers among other scientists, who think the amount of energy required for the fields described by Pais and his ideas on electromagnetic propulsions are well beyond the scope of current tech and are nearly impossible. Yet investigators at The War Zone found comments from Navy officials that indicate the inventions are being looked at seriously enough, and some tests are taking place.
If you'd like to read through Pais's patents yourself, check them out here.
Laser Augmented Turbojet Propulsion System
Credit: Dr. Salvatore Pais
- As the material that makes all living things what/who we are, DNA is the key to understanding and changing the world. British geneticist Bryan Sykes and Francis Collins (director of the Human Genome Project) explain how, through gene editing, scientists can better treat illnesses, eradicate diseases, and revolutionize personalized medicine.
- But existing and developing gene editing technologies are not without controversies. A major point of debate deals with the idea that gene editing is overstepping natural and ethical boundaries. Just because they can, does that mean that scientists should be edit DNA?
- Harvard professor Glenn Cohen introduces another subcategory of gene experiments: mixing human and animal DNA. "The question is which are okay, which are not okay, why can we generate some principles," Cohen says of human-animal chimeras and arguments concerning improving human life versus morality.
New studies stretch the boundaries of physics, achieving quantum entanglement in larger systems.
- New experiments with vibrating drums push the boundaries of quantum mechanics.
- Two teams of physicists create quantum entanglement in larger systems.
- Critics question whether the study gets around the famous Heisenberg uncertainty principle.
Recently published research pushes the boundaries of key concepts in quantum mechanics. Studies from two different teams used tiny drums to show that quantum entanglement, an effect generally linked to subatomic particles, can also be applied to much larger macroscopic systems. One of the teams also claims to have found a way to evade the Heisenberg uncertainty principle.
One question that the scientists were hoping to answer pertained to whether larger systems can exhibit quantum entanglement in the same way as microscopic ones. Quantum mechanics proposes that two objects can become "entangled," whereby the properties of one object, such as position or velocity, can become connected to those of the other.
An experiment performed at the U.S. National Institute of Standards and Technology in Boulder, Colorado, led by physicist Shlomi Kotler and his colleagues, showed that a pair of vibrating aluminum membranes, each about 10 micrometers long, can be made to vibrate in sync, in such a way that they can be described to be quantum entangled. Kotler's team amplified the signal from their devices to "see" the entanglement much more clearly. Measuring their position and velocities returned the same numbers, indicating that they were indeed entangled.
Tiny aluminium membranes used by Kotler's team.Credit: Florent Lecoq and Shlomi Kotler/NIST
Evading the Heisenberg uncertainty principle?
Another experiment with quantum drums — each one-fifth the width of a human hair — by a team led by Prof. Mika Sillanpää at Aalto University in Finland, attempted to find what happens in the area between quantum and non-quantum behavior. Like the other researchers, they also achieved quantum entanglement for larger objects, but they also made a fascinating inquiry into getting around the Heisenberg uncertainty principle.
The team's theoretical model was developed by Dr. Matt Woolley of the University of New South Wales. Photons in the microwave frequency were employed to create a synchronized vibrating pattern as well as to gauge the positions of the drums. The scientists managed to make the drums vibrate in opposite phases to each other, achieving "collective quantum motion."
The study's lead author, Dr. Laure Mercier de Lepinay, said: "In this situation, the quantum uncertainty of the drums' motion is canceled if the two drums are treated as one quantum-mechanical entity."
This effect allowed the team to measure both the positions and the momentum of the virtual drumheads at the same time. "One of the drums responds to all the forces of the other drum in the opposing way, kind of with a negative mass," Sillanpää explained.
Theoretically, this should not be possible under the Heisenberg uncertainty principle, one of the most well-known tenets of quantum mechanics. Proposed in the 1920s by Werner Heisenberg, the principle generally says that when dealing with the quantum world, where particles also act like waves, there's an inherent uncertainty in measuring both the position and the momentum of a particle at the same time. The more precisely you measure one variable, the more uncertainty in the measurement of the other. In other words, it is not possible to simultaneously pinpoint the exact values of the particle's position and momentum.
Heisenberg's Uncertainty Principle Explained. Credit: Veritasium / Youtube.com
Big Think contributor astrophysicist Adam Frank, known for the 13.8 podcast, called this "a really fascinating paper as it shows that it's possible to make larger entangled systems which behave like a single quantum object. But because we're looking at a single quantum object, the measurement doesn't really seem to me to be 'getting around' the uncertainty principle, as we know that in entangled systems an observation of one part constrains the behavior of other parts."
Ethan Siegel, also an astrophysicist, commented, "The main achievement of this latest work is that they have created a macroscopic system where two components are successfully quantum mechanically entangled across large length scales and with large masses. But there is no fundamental evasion of the Heisenberg uncertainty principle here; each individual component is exactly as uncertain as the rules of quantum physics predicts. While it's important to explore the relationship between quantum entanglement and the different components of the systems, including what happens when you treat both components together as a single system, nothing that's been demonstrated in this research negates Heisenberg's most important contribution to physics."The papers, published in the journal Science, could help create new generations of ultra-sensitive measuring devices and quantum computers.