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- #69 Psychology of Saving & Saying Thanks
#69 Psychology of Saving & Saying Thanks
Plus: A Newsletter Rec For Every Type of Content
Welcome back!
It’s a positive time for us in the OTF family, and for me (Dan Healy) specifically.
We’re growing at a much steadier rate than last year; our branding is really coming together; and I’ve got some personal news that I’m saving to share at the end of this letter.
But because we are feeling so blessed, we’ve decided it’s a great time to promote those good vibes. Throughout this edition, you’ll notice that every section - except for the last - recommends another newsletter. These are not paid ads; we receive no revenue should you subscribe or even click on these recommendations.
They are simply newsletters that have inspired us throughout our journey building On The Fly, and this is our way of showing our gratitude. (They’re also newsletters that we’re subscribed to and believe bring a ton of value should you be looking to add to your inbox.)
We aspire to build communities and impact our readers the way these great letters do, and we won’t stop until we reach those goals and beyond. If you have any feedback that you believe might help us in that pursuit, please drop us a line at [email protected].
(And if you know anyone that you think would like what we’re doing, please consider forwarding this link to them. Thanks so much!)
Now, let’s get to it:
🚚 Your Amazon Prime Free Delivery
Elevating Your Brand 🤝
Staying Informed with Major Moves
Workin’ With AI: No Better Source Than Superhuman
Fattening The Wallet 💰️
Making Sense Cents of The Psychological Benefits to a Savings Account
Boosting Your Productivity 📊
Hustle Hub: Passive Income, Small Business Advice, and Founderoo
A Food For Thought on Dreams
Making Cents 💰️
Making Cents shares (or reviews) financial concepts in a casual and accessible way to help you better manage money and build wealth.
What Are The Psychological Benefits to Saving Money?
Short and Sweet: Saving money isn't just about growing your bank account—it's also about boosting your mental well-being.
When you save, you're not only preparing for the future but also giving yourself both a sense of security and accomplishment.
Why It Matters: Because financial stress is a common source of anxiety. Understanding the psychological perks of saving can transform how you view your finances, making it easier for handle your money while juggling all the other important aspects of life.
Some Psychological Benefits to Saving Money:
Reduced Anxiety: Having savings can reduce anxiety about unexpected expenses. Knowing you have a financial cushion can make life's surprises more manageable; as we know life can be unpredictable when it comes to expenses.
Increased Life Satisfaction: Achieving savings goals provides a sense of accomplishment, which can increase your overall satisfaction to enjoy more of a life you want.
Future Orientation: Saving encourages you to think long-term, which can lead to better planning and prioritization, aligning your daily actions with your future goals. Remember how we talked about the 50/30/20 Budget Rule? This will help you better plan and prioritize where your spending should be to help you with future orientation.
Take Action: Two Things You Can Do ASAP:
Set Clear Goals: Whether it’s saving for a vacation, an emergency fund, or retirement, having specific goals can motivate you to stay on track. Don’t lose sight of what you want. Stay committed and focused.
Start Small: Don’t set unachievable goals, thinking you’ll save 50% of your paycheck. It’s not realistic. Begin by setting aside a small amount each week. It’s less about the amount and more about building the habit.
PS: If you want a short & sweet (OTF’s bread and butter) newsletter on money, check out Sunday Money. A simple read that comes with 10 money topics delivered for your benefit every (you guessed it) Sunday.
Hustle Hub 📈
Hustle Hub provides inspirational stories and valuable tips to help entrepreneurs, online creators, and side-hustlers along their journeys.
YOUR SUCCESS: 4 realistic steps to starting a passive income side hustle (it’s not as easy as TikTok makes it seem).
THEIR SUCCESS: How musician Jack Conte built Patreon into a $4B business, courtesy of Founderoo (an ELITE entrepreneurial newsletter).
YOUR SUCCESS: Want to be your own boss but don’t know where to start? Here are 63 small business ideas for 2024 + advice on how to determine which is best for you.
Major Moves 🗞️
Major Moves helps you stay informed with positive (or funny) stories about Fortune 500 companies and startups alike.
📈 TARGET
The mega-retailer is making Major Moves that the consumer is bound to like: it is lowering prices on over 5,000 items, concentrating “in grocery staples like milk, meat, bread, fruit and vegetables, as well as paper towels and diapers, with many cuts affecting its company-owned Good & Gather and Everspring Brands.”
Whether it’s a business decision to lure (back) more shoppers, or out of the goodness of their hearts to try to ease the pain of inflation, we don’t really care, do we? Lower prices are good!
👀 melissa’s produce
At the complete opposite end of the spectrum, Melissa’s Produce (based out of Los Angeles) is selling a $400 pineapple.
Read that sentence again if you need to.
Don’t worry, though - if the Rubyglow is out of your price range, you can always slum it with the Pinkglow Pineapple, which sells at two for $58.
W. T. F!
🤝 coreweave
This AI infrastructure startup “has raised $7.5 billion…to more heavily invest in its cloud data centers.” This comes on the heels of a $1.1 billion equity funding round.
Forget everything we’ve ever said in Making Cents - you want to build wealth, get into AI. That’s where all the money is 😆
(Are you subscribed to any actual news newsletters? If not, you can’t go wrong with one of our biggest inspirations - The Morning Brew.)
Workin With AI 🦾
Every now and then, we come across an AI tool that we absolutely MUST try, and we write what we learn in this space; more often, we come across a really good tutorial that we feel compelled to share.
Today, we’re simply recommending a newsletter that we’ve repeatedly touted as the best AI source in the business: Superhuman.ai. Every edition gives you news, prompts, and tools that can make your life easier. Here are the 5 featured tools in their most recent edition:
For more on each tool (and for all sorts of other great AI content), click here.
Food For Thought + Founder’s Note💭
ig: visualhustles
What a Time It’s Been!
I teased in the intro that I had some big news of my own: after a few years in California, having built a good life and a solid career, I am moving back to the East Coast.
I couldn’t be more excited, but it’s also bittersweet: I feel like I’ve grown a lot out here, and I’ve built a lot of relationships I’ll cherish for the rest of my life. Moving from NY to Los Angeles when I did was one of the best decisions I’ve ever made, and I wouldn’t trade this time for anything. I’ve learned so much.
A lot of what I learned, particularly through work, became inspiration for this very newsletter. New York is where I was born and raised, but On The Fly was conceived and launched in Cali, another reason it will always hold a special place in my heart.
We are up to 70 editions and almost 2500 subscribers now, and just like I’m executing a big plan to move back East, we at OTF have big plans for the rest of 2024 and beyond. We hope you’ll continue to ride with us along the way.
As has been the theme of this edition, I want to personally thank each and every one of you for spending time with us every Tuesday. We work very hard on each edition (and all that goes on behind the scenes to grow the letter / brand), so your support is something I’m forever grateful for.
Lastly: if you’re considering a major life decision like the one I’m currently making, just know that you’re in control. And whatever you decide to do, you can do it.
In the wise words of Dr. Seuss:
“You have brains in your head. You have feet in your shoes. You can steer yourself any direction you choose. You're on your own. And you know what you know. And you are the guy who'll decide where to go."
Before You Go
We hope you enjoyed this special edition of OTF!
Next week, we’ll be back with Convo Starters, AI news to make sure you’re Always Informed, and a new Cool Communicator as we continue our quest for language mastery.
See you then!