Personal Finance's 7 Deadly Sins

On the American Express-backed Currency blog, Jason takes the traditional seven deadly sins and applies them to personal finance, offering potential pitfalls money-smart people can slip in to, as well as remedies to seek absolution from the misdeeds.

For some reason, Jason considers stinginess a negative trait.

From the post:

1. Stinginess. You remember Ebenezer Scrooge in Dickens’s classic Christmas Carol: the epitome of a heartless miser, a wealthy man who valued his precious coins far more valuable than those around him. He was extremely unhappy–because tightwads aren’t happy. You’d think the more you build your own kingdom by holding tightly to your money, the happier you’d be–but it’s simply not true. We get tremendous joy from living with open hearts and open hands, especially toward those in need.

How to Change: Experiment for a month: Set aside a certain amount to give to others–doesn’t matter if it’s $10 or $100. What’s more important is that you seek opportunities to give it to someone who can really use it. After you do that, jot down how it makes you feel. My guess is you’ll experience more joy than you would have from spending it on yourself. If I’m right, keep setting aside “generosity money” each month.

Click the source link for Jason’s evaluation of the other sins.

What’s your biggest weakness when it comes to money, and what do you do to combat it?

The 7 Deadly Sins Of Personal Finance [Currency]