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Capital markets regulator <keyword id="19901201" type="General" weightage="100" keywordseo="Sebi" source="keywords" meta.keywordsubtype="org" meta.entityname="Sebi" meta.hostid="261" meta.entityid="Sebi">Sebi</keyword> on Monday launched <keyword id="19925751" type="General" weightage="20" keywordseo="mobile-app" source="keywords">mobile app</keyword> '<keyword id="21922624" type="General" weightage="20" keywordseo="Saathi" source="keywords">Saa₹thi</keyword> 2.0' on <keyword id="20127396" type="General" weightage="20" keywordseo="personal-finance" source="keywords">personal finance</keyword> for <keyword id="19900618" type="General" weightage="20" keywordseo="investors" source="keywords">investors</keyword> with comprehensive tools aimed at simplifying complex <keyword id="21922626" type="General" weightage="20" keywordseo="financial-concepts" source="keywords">financial concepts</keyword>. "The updated 'Saa₹thi' app introduces a user-friendly interface with comprehensive tools aimed at simplifying complex financial concepts," Sebi said in a statement. The app includes <keyword id="21922625" type="General" weightage="20" keywordseo="financial-calculators" source="keywords">financial calculators</keyword> and has modules that introduce and explain KYC procedures, <keyword id="19929240" type="General" weightage="20" keywordseo="mutual-funds" source="keywords">mutual funds</keyword>, <keyword id="20003842" type="General" weightage="20" keywordseo="ETFs" source="keywords">ETFs</keyword>, buying and selling shares on <keyword id="19905454" type="General" weightage="20" keywordseo="stock-exchanges" source="keywords">stock exchanges</keyword>, investor grievances redressal mechanism, and the Online Dispute Resolution (ODR) platform. Additionally, the app features a range of videos designed to assist investors in their personal finance planning. "In today's era, where social media sometimes provides biased or misleading information, there is a significant need for an unbiased, objective, and trusted source of investment information," Ananth Narayan G, Whole Time Member, said during the launch. "The Saa₹thi app serves this purpose by empowering investors with reliable and essential insights into the securities market. This tool can be especially useful for young investors who are at the beginning of their financial journey. "The content within the app is dynamic, allowing us to keep pace with the rapidly evolving market conditions. We actively seek public suggestions to further refine and enhance the Saa₹thi app, ensuring it continues to serve our investors," he said. The 'Saa₹thi' app is available for download on Google Play Store and the iOS AppStore.

Sebi launches Saa₹thi 2.0 mobile app on personal finance for investors

<ul class="summary-list"><li><keyword id="23786456" type="General" weightage="20" keywordseo="Mae-Suzuki" source="keywords">Mae Suzuki</keyword> was stuck in a cycle of <keyword id="23786455" type="General" weightage="20" keywordseo="restrictive-dieting" source="keywords">restrictive dieting</keyword> and binging for years.</li><li>She applied the technique of visualization, used by business titans such as Steve Jobs, and lost 40 pounds.</li></ul>For years, Mae Suzuki was stuck in a cycle of <a target="_blank" href="https://www.businessinsider.com/women-losing-periods-due-to-restrictive-dieting-over-exercising-2021-3">restrictive dieting</a> and binging that left her miserable. But when Suzuki started visualizing her dream self and following the habits she imagined she would have, she lost 40 pounds sustainably. The technique of visualization has been linked to improved musical ability, athletic performance, self-confidence, decision-making, and emotional regulation. Many successful entrepreneurs, including <a target="_blank" class="" href="https://www.businessinsider.com/steve-jobs">Steve Jobs</a>, are known to have used <keyword id="21023801" type="General" weightage="20" keywordseo="visualization-techniques" source="keywords">visualization techniques</keyword> throughout their careers, as well as Olympians such as Michael Phelps. Growing up, Suzuki, a YouTuber based in New York, was overweight and wasn't taught healthy eating habits, which made her feel different. "That sort of added to the whole shame around 'Why am I not fit? Why am I not healthy? Why do I feel different from everyone else around me?'" she told Business Insider. In spring 2023, the "<a target="_blank" href="https://www.businessinsider.com/weight-loss-glp-1-drugs-ozempic-wegovy-mounjaro-effects-future-2023-12">food noise</a>" and misery of yo-yo dieting reached a fever pitch, and she decided something had to change. Suzuki had discovered the concept of <a target="_blank" href="https://www.businessinsider.com/lucky-girl-syndrome-manifesting-success-jobs-money-economy-tiktok-2023-2">manifesting</a> — which she described as "basically creating whatever you want into your reality" — a few years earlier. She used the framework to examine her lifestyle and reimagine her ideal one. She started by reflecting deeply on what she wanted her life to look like, and envisioned her dream self. "I really sat down with myself and thought about, 'Who do I want to be? If I want to achieve things in my life, who do I have to become?' And it's not about being someone else other than myself, but it's more so discovering new extensions of myself," she said. Suzuki added: "I basically did an entire overhaul of my <keyword id="23786458" type="General" weightage="20" keywordseo="self-concept" source="keywords">self-concept</keyword>, my identity, basically like who's Mae? What does she do? What are her habits like? "And I also thought about what people who are at my goal, people who are fit and healthy, what are they doing?" Then, Suzuki made a promise to herself to gradually start living her life as that person. "I manifested by living the life of the person I wanted to become," she said. After six months, she reached her goal of losing 40 pounds and has maintained her weight since about October of last year. The Centers for Disease Control and Prevention says losing about 4 to 8 pounds a month is healthy and sustainable. <div type="image" title="Suzuki on the beach before her weight loss." height="2268" width="3024" msid="114428139" hostid="261"></div><h2>Shifting the focus away from <keyword id="19923802" type="General" weightage="100" keywordseo="weight-loss" source="keywords">weight loss</keyword> and toward enjoyment and health</h2>Suzuki realized she was previously solely focused on losing weight, which led her to eating foods she didn't like and doing workouts she hated. "Everything that I thought revolved around 'how do I lose weight? How do I burn more calories?' That wasn't giving me joy at all," she said. In fact, it made everything feel like a chore, which was unsustainable. As she observed people who had <a target="_blank" href="https://www.businessinsider.com/longevity-lifestyle-changes-live-longer-healthy-habits-genes-study-2024-5">healthy habits</a>, she noticed that they tended to be active simply because they enjoyed it. They might get off the bus a few stops early to walk the rest of the way home, for example, because they enjoyed the process. That was a perspective she had never considered before. "I had to kind of unpack all of these underlying mindsets that I had that clearly brought me to where I was. It wasn't working out for me," Suzuki said. This time, she focused on feeling strong, healthy, and happy. Once she stopped focusing on the things she didn't like in order to lose weight, she started to see gradual but sustained weight loss. <h2>She didn't restrict herself but didn't eat more than she needed</h2>In Suzuki's childhood home, there was a scarcity mentality in relation to food, she said. Her parents' <a target="_blank" class="" href="https://www.businessinsider.com/alices-ultra-rich-what-people-across-tax-brackets-discuss-therapy-2024-10">financial struggles</a> fostered a belief that she had to eat everything on her plate or else go hungry. And while that might have made sense at the time, as an adult it led Suzuki to <a target="_blank" class="" href="https://www.businessinsider.com/avoid-overeating-at-thanksgiving-dinner-eat-slower-dietitian-2023-11">often overeat</a>. Instead, she allowed herself to eat until she was full and put the rest aside for later. "Food is abundant. If I'm hungry, I can go get a snack. So I don't feel like I need to overeat and be extremely full just so that I won't be hungry later on," she said. After years of restrictive dieting, she also let go of demonizing certain foods and glorifying others. Instead, she paid more attention to nutritional value, portion size, and flavor. She tracked what she ate to make sure she was in a <a target="_blank" class="" href="https://www.businessinsider.com/guides/health/diet-nutrition/benefits-of-calorie-deficit-diet">calorie deficit</a>— which means eating fewer calories than you burn — but wasn't strict about it, she said. "I don't have to eat five cups of salad every day. I just need to eat what I like and then feel full and then move on with my day. And if I'm hungry, I can get more food," she said. <div type="image" title="Mae Suzuki taking a mirror selfie at the gym." height="4032" width="2268" msid="114428142" hostid="261"></div><h2>Discovering <keyword id="21715184" type="General" weightage="20" keywordseo="weight-lifting" source="keywords">weight lifting</keyword></h2>In June, Suzuki joined her local gym and committed to going three to four times a week. She knew there would be times she didn't feel motivated but she just kept focusing on her goal until it became a habit. She tried as many different workout classes as she could, and discovered that <a target="_blank" class="" href="https://www.businessinsider.com/how-weightlifter-made-running-habit-hybrid-training-2024-10">she loves lifting heavy but isn't so into cardio</a>. On days she doesn't feel like exercising, she leans on the workouts she knows she enjoys, like practicing <a target="_blank" href="https://www.businessinsider.com/gyms-outdated-cardio-no-squat-racks-2024-9">squats</a>. "I just want to move my body. I just want to feel good in my body," she said. Correction — October 21, 2024: A previous version of this story misstated a CDC recommendation on healthy weight loss. The CDC says a healthy weight-loss goal for most people is 4 to 8 pounds a month, not 10 pounds a month.

A woman lost 40 pounds by quitting strict diets that made her miserable. She started by visualizing 3 healthy habits her ideal self would keep.

<ul class="summary-list"><li>Andrew Garfield and Florence Pugh star as a couple dealing with a cancer diagnosis in "We Live in Time."</li><li>BI spoke to director John Crowley about how the film's tone balances romance and melodrama.</li></ul>"We Live in Time," the new film starring Florence Pugh and <a target="_blank" class="" href="https://www.businessinsider.com/andrew-garfield-movies-ranked-critics-scores-2022-2">Andrew Garfield</a> as a couple dealing with a cancer diagnosis, defies easy categorization.The movie, which is structured as a nonlinear narrative, follows the relationship between Tobias (Garfield), a Weetabix salesman, and Almut (Pugh), a former figure skater turned Michelin chef, over the course of a decade.It's funny and romantic, but it's not a <a target="_blank" class="" href="https://www.businessinsider.com/the-best-romantic-comedies-everybody-should-see">rom-com</a>. It's dramatic and heart-wrenching and deals with cancer, but it's not deliberately weepy like "The Fault in Our Stars" or "A Walk to Remember."Though the "We Live in Time" director John Crowley saw balancing the film's many tones as an invigorating challenge for him and his actors, some of the suits involved were less enthused."It made our financiers very nervous, certainly, because there's a restlessness about the script," Crowley told Business Insider, adding that it's this tone that gives the movie its "life force.""It's constantly refusing to settle down into one kind of thing. And that's why it refuses the guardrails of a rom-com, or of a melodrama."Yet with <a target="_blank" class="" href="https://www.businessinsider.com/andrew-garfield-movies-ranked-critics-scores-2022-2">Garfield</a> and Pugh, two beloved and reliably bankable stars at the center of his film, Crowley, who's best known for the Oscar-nominated <a target="_blank" class="" href="https://www.businessinsider.com/saoirse-ronan-movies-ranked-critics">Saoirse Ronan</a> vehicle "Brooklyn," ultimately had little to worry about.Pugh and Garfield's undeniable chemistry both onscreen and on their press tour has garnered the film plenty of buzz: They've discussed everything from <a target="_blank" class="" href="https://apnews.com/article/florence-pugh-andrew-garfield-we-live-time-31556687419d4fb62847332a9a0ab3fe">sending nudes</a> to <a target="_blank" class="" href="https://www.indiewire.com/news/general-news/andrew-garfield-florence-pugh-we-live-in-time-sex-scene-1235054446/">getting carried away</a> filming sex scenes on the record. When Pugh couldn't appear at the London Film Festival because she was shooting another movie, Garfield walked the red carpet with a<a target="_blank" class="" href="https://www.bbc.com/news/articles/cy94nxgwn58o"> life-sized cardboard cutout of her,</a> much to the amusement of fans.And then there's the movie's most inadvertent meme: <a target="_blank" class="" href="https://x.com/bestofpugh/status/1823746606841184481">the carousel horse,</a> whose strange expression captured in the corner of one of the film's promotional photos went viral."It was so good-natured, all of the teasing about it," Crowley said. "For once, all publicity is good publicity. It's not always true nowadays, but I think, in this instance, it was."Below, Crowley spoke to BI about the most challenging scenes for Pugh and Garfield to film, how the ending changed, and how much crying there was behind the camera.<h2 id="57c752f9-984b-4031-8e46-3a6204a70868">The actors — and director — went through the emotional wringer</h2><div type="image" title="Andrew Garfield in &quot;We Live in Time&quot;" height="5701" width="7601" msid="114633129" hostid="261" sizebytes="3130398"></div>When it came to translating that restless script to screen, Crowley praised Garfield and Pugh for "hitting the bullseye on a daily basis." He pointed to the big <a target="_blank" class="" href="https://www.businessinsider.com/obgyn-breaks-down-pregnancy-scenes-in-movies-tv-realism-2021-3">birth scene</a>, a key sequence in the film in which Almut ends up delivering their daughter Ella in a gas station bathroom after they get stuck in traffic on New Year's Eve, as one of the most exhausting scenes to film."[Pugh] gave birth eight times in one day," Crowley said. "And those takes ran long. There were sort of 16-minute takes or something like that."He also pointed to Almut and Tobias' climactic argument in the kitchen over her decision not to undergo treatment and instead focus on training to compete in a culinary competition as one scene that was "blisteringly raw" and tough for Garfield. The scene was shot toward the end of filming and Garfield, who'd gone through much of Tobias' emotional arc by that point, was left "profoundly upset" after filming it."In a way, he himself could feel Tobias' grief after that scene, which is, she's gone. She's going to do what she wants to do, and I'm left watching it. But she's gone," Crowley recalled. "He could feel that that was the beginning of the end."Garfield also lost his mom to cancer in 2019."It really hit him very, very deeply," Crowley added.That level of lingering emotion wasn't unique to Garfield, either. Crowley said he, too, got emotional on set watching Garfield and Pugh act out some of the movie's most intense scenes. And he got worked up all over again while editing the movie six months later."There was a lot of emotion flying on that set," he said. "So yeah, I was a wreck."<h2 id="45c8e3f3-3d0f-4970-8465-ffadfa947e76">The ending of 'We Live in Time' was originally different</h2><div type="image" title="Andrew Garfield and Florence Pugh in &quot;We Live in Time&quot;" height="5760" width="7680" msid="114633131" hostid="261" sizebytes="3254102"></div>The sequence of scenes in the film, which tells the couple's love story out of order, also changed during the editing process. Scenes initially intended to open and close the film ended up in different spots entirely.Crowley said the film originally opened on Tobias and Almut being spun around in the fairground, where they went to celebrate Almut's cancer remission. The original ending bookended that; the last dialogue scene was Almut coming through the door of their apartment and telling Tobias that she was in remission after her first bout of cancer.Those scenes both still exist in the final cut of the movie, but were instead placed three-quarters of the way through and happen in chronological order: Almut first reveals her remission and then the two go to the fairground to celebrate.The ending that made it to the screen is a beautifully understated sequence: After competing in the Bocuse d'Or culinary competition, a satisfied and fulfilled Almut brings Tobias and their daughter Ella to an ice-skating rink. The family skates together, revisiting Almut's past as a competitive figure-skater — a passion she abandoned over her grief when her own father died.That scene ends with Almut skating further away from her partner and daughter and waving to them, functioning as a farewell to Almut for both her family and the audience. The next scene cuts to Tobias and Ella, an unspecified period of time later, entering the family's cottage home. It's never said aloud, but it's clear that Almut has since died.Crowley said there was never any plan to show Almut's death onscreen. "It was never filmed," he said. "The ice skating sequence and the waving from across the way was always intended to carry the import of a goodbye."To Crowley, that scene was meant to convey for the viewer the sense of sudden finality <a target="_blank" class="" href="https://www.businessinsider.com/improving-work-life-helped-deal-with-grief-sisters-death-2024-8">when someone you love dies</a>, which is always abrupt and feels too soon."They wave goodbye at this beautiful triumphant moment and then it's just emptiness. It would feel like, you got to be kidding me, right? She's coming back, of course, which is what you feel when somebody goes," he said.He also points to the dog that appears for the first time in the final scene of the film as a subtle clue that Almut has died, calling back to earlier in the film when Almut half-jokingly suggests getting an older dog to <a target="_blank" class="" href="https://www.businessinsider.com/summer-camp-grief-kids-whove-lost-parent-2024-6">help their daughter cope with the concept of death</a>.The egg-cracking moment is another motif brought back in the ending. That happens three times throughout the film: in the opening scene, when we're first introduced to Almut, then early in Tobias and Almut's relationship when she explains to him her method for egg-cracking (always on a flat surface and into a smaller bowl before it's transferred to a larger bowl), and then in the final scene where Tobias and their daughter are using Almut's egg-cracking method after she died.It's a quick moment that takes on greater import: a simple, profound way of showing how Almut lives on for her daughter.Crowley knew it would be a risk to wrap up the film with what might be perceived as a lack of closure. But whether or not it landed with every viewer, it felt like the most genuine ending for the director — and for his characters."It would be a truer expression of what it feels like to lose somebody very precious to you," he said. "It felt like the right place to leave them to go on that journey.""We Live in Time" is in theaters now.

The 'We Live in Time' director on why the movie made financiers nervous, and how that devastating ending changed

Markets regulator <keyword id="19901201" type="General" weightage="20" keywordseo="Sebi" source="keywords">SEBI</keyword> has proposed expanding the <keyword id="22367248" type="General" weightage="20" keywordseo="sustainable-finance-framework" source="keywords">sustainable finance framework</keyword> in the <keyword id="20922662" type="General" weightage="20" keywordseo="securities-market" source="keywords">securities market</keyword> by introducing a new category of financial instruments. This category will include <keyword id="20518791" type="General" weightage="20" keywordseo="Social-Bonds" source="keywords">social bonds</keyword>, <keyword id="22623575" type="General" weightage="20" keywordseo="Sustainable-Bonds" source="keywords">sustainable bonds</keyword>, and <keyword id="22623576" type="General" weightage="20" keywordseo="Sustainability-linked-Bonds" source="keywords">sustainability-linked bonds</keyword>, in addition to the current <keyword id="22819966" type="General" weightage="20" keywordseo="green-debt-securities" source="keywords">green debt securities</keyword>. It aims to provide issuers with flexibility in raising funds for projects that align with environmental, social, and governance (ESG) objectives. In a consultation paper released on Friday, SEBI proposed that issuers, in addition to existing green debt securities, should be allowed to raise funds through issuance of social bonds, sustainable bonds, and sustainability-linked bonds. These bonds will collectively be known as ESG Debt Securities. This will enable issuers to raise money for more sustainable projects, assisting in closing the funding gap for the Sustainable Development Goals. SEBI said it received representations from market participants including the Confederation of Indian Industry to expand the scope of the regulatory framework pertaining to sustainable finance to include social bonds, in addition to existing green debt securities as a mode of raising sustainable finance, in line with global practices. As per the consultation paper, SEBI said, it "proposed to introduce the concept of sustainable securitised debt instruments for the purpose of providing originators of the underlying credit facilities which are within such international or domestic frameworks for sustainable finance, and thereby provide investors as well an opportunity to participate in the sustainable securitised debt instruments". The consultation paper also addressed the initial and continuous disclosures for sustainable securitised debt instruments that would be based on international frameworks. Initial disclosures could be made in the offer document for the securities, while continuous disclosures might be included in annual reports or other mandated formats. The markets watchdog also suggested that issuers of ESG debt securities and sustainable securitised debt instruments appoint an independent external reviewer or certifier, to facilitate transparency and credibility. The review could take various forms including, second-party opinions, verification, certification, or scoring/ rating. The <keyword id="19901204" type="General" weightage="100" keywordseo="Securities-and-Exchange-Board-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Securities and Exchange Board of India" meta.hostid="261" meta.entityid="Securities and Exchange Board of India">Securities and Exchange Board of India</keyword> (SEBI) has invited comments and suggestions from the public on the consultation paper by September 6.

SEBI proposes expansion of sustainable financial framework in securities market

<ul class="summary-list"><li>Access to financial literacy education varies across K-12 schools in the US.</li><li>Parents can encourage financial literacy skills for their children at home.</li></ul>Financial stability can directly impact a person's <a target="_blank" class="" href="https://www.businessinsider.com/quit-my-career-live-off-savings-financial-crisis-2024-6">quality of life</a>. Yet ensuring young people develop the financial skills to achieve economic success as adults is not prioritized in all K-12 educational settings.According to the California Department of Education, only 26 states in the United States require high school students to take a course in personal finance. California just recently made this requirement official; in the press release announcing the agreement, Gov. Gavin Newsom said, "Saving for the future, making investments, and spending wisely are lifelong skills that young adults need to learn before they start their careers, not after."However, research demonstrates that <a target="_blank" class="" href="https://www.businessinsider.com/entrepreneur-mom-money-lessons-kids-2024-7">learning about finances</a> outside a traditional school setting can also be impactful.A 2020 <a target="_blank" href="https://files.eric.ed.gov/fulltext/EJ1280282.pdf">study</a> published in the Journal of Financial Counseling and Planning found that "college students that were explicitly taught financial basics by their parents, felt a beneficial influence of this teaching when they made financial decisions."Although financial literacy education is not a national requirement, parents can still foster financial literacy skills within their children right at home.<h2 id="b7e48fef-dbcc-4f1c-aa32-5818a8c2b41d">Ensure your child understands the importance of budgeting from an early age</h2>Although it's not uncommon for people of all ages to fall into the trap of behaving as if money is limitless, making sure your child understands that it's a <a target="_blank" class="" href="https://www.businessinsider.com/personal-finance/banking/debit-card-limits">finite resource</a> could be a good place to start from an early age.Jennifer Seitz, the director of education at the family finance technology company Greenlight, told Business Insider that as soon as kids are aware of money and want to start using it to buy things, they're ready to learn about it in an age-appropriate way. For some, this is as early as preschool.Whenever your child seems ready for more advanced concepts related to money, you can start talking about budgeting."Parents can introduce the concept of a budget, and that a budget is a plan for your money, and it's where you can decide how much money will be spent on certain things," Seitz said."A very common early lesson is about opportunity cost, which means learning about trade-off decisions — that basically, if you use your money for something else, it's spent, gone, and not available for something that you may want to use it for later that day or another day," Seitz continued.Seitz told BI an example of introducing opportunity cost could take the form of reminding a child who wants a treat from the grocery store that they could use their money for a treat that day or use it for ice cream a couple of days later, but not for both.Seitz also said that although increasing your child's knowledge around financial literacy at an early age can be really beneficial, <a target="_blank" class="" href="https://www.businessinsider.com/parents-teens-competing-science-fair-olympics-parenting-principles-advice-2024-6">parents of older teens</a> need to know that it's not too late for them, too. Even if you didn't start early, that doesn't mean you can't start now.If your child is a teen, Seitz recommends encouraging them to start thinking about their future financial aspirations and explaining how good financial planning can help them achieve those goals. Seitz said teens, in particular, may want to save up money for a concert, attend class trips, or a school dance, and even start planning around paying for higher education. Whatever their future holds, talking to them about how money plays a role in those plans is a crucial step.<h2 id="8dca6274-b146-43e4-a166-a524941d3a18">Pay attention to the financial habits your children are observing from you</h2>Although it may be easy to forget sometimes, your child is learning from your behaviors and the habits of the other people around them regarding a multitude of things, including how to handle finances.Seitz told BI that numerous <a target="_blank" href="https://link.springer.com/content/pdf/10.1007/s10834-020-09736-2.pdf">studies</a> examining how children develop money knowledge have identified that one way children learn is through modeling, where they observe their families' financial habits and attitudes towards money.Seitz also said parents should be open to having conversations with their children about money and prepare for those <a target="_blank" class="" href="https://www.businessinsider.com/what-parents-should-teach-kids-about-money-2022-10">conversations</a> if they're not used to doing so, as conversations about money also foster children's money knowledge.<h2 id="c708a766-ddd9-4771-9dff-8a8b3ccd2cd2">Encourage your child to play a direct role in their financial literacy learning journey</h2>While having conversations and modeling behaviors are good ways to teach your child, sometimes the best way to increase their learning is to allow them to turn their knowledge into action and be an active participant in their own journey with money.<a target="_blank" href="https://www.instagram.com/mike_altro/">Michael Broughton</a>, founder and CEO of Altro, an app that helps users build credit, told BI that getting started on the <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/apple-stock-price-plunge-warren-buffett-cuts-stake-berkshire-hathaway-2024-8?utm_medium=ingest&amp;utm_source=markets">stock market</a> could be a beneficial tool."I think the biggest thing that most parents may not know is that you can open up a brokerage in the name of your kids, so they can actually have a stock account that's in their name that they're able to trade on," Broughton said."What I'm doing with my younger sister is just setting up an automatic pull from an account. So every two weeks, she's getting maybe $25 or $50 to go invest in the stock market and see it grow," he continued.Broughton told BI that parents should show their children that they are able to invest in things that they are actually passionate about."So my little sister, she invested in Mattel because she thought that <a target="_blank" class="" href="https://www.businessinsider.com/how-barbie-dolls-changed-evolution-2018-3">Barbie</a> was going to do really well — she invested in some bowling stuff, some games stuff, and that's really helped build the beginning of her portfolio."Broughton also told BI that although stocks can be hard to explain, referring to certain events impacting the <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-crash-yen-carry-trade-unwind-fed-japan-rates-2024-8?_gl=1*1tv42tv*_ga*NzcxNjMwNTEyLjE3MjE4NDg5Njc.*_ga_E21CV80ZCZ*MTcyMjg4OTg2NS4xOC4xLjE3MjI4OTE0MzcuOS4wLjA.">stock market</a> as simply good or bad could be helpful."Disney just made '<a target="_blank" class="" href="https://www.businessinsider.com/inside-out-2-box-office-pixar-disney-numbers-analysis-2024-6">Inside Out 2</a>,' that's doing really well, everyone's talking about it, and I would ask my sister do you think Disney's doing good or is Disney doing bad? — She'd say they're doing good, and I would say, well, that means that the stock is doing good, and we would go look at the stock, and if it's up, I'll be like, she's right, or it's down, like, let's go look at the news and figure out why," Broughton said.Seitz said one method parents can use to help young children not only learn how money is earned but also be reminded of its limits is to provide them with an allowance for completing <a target="_blank" class="" href="https://www.businessinsider.com/kids-responsibility-chores-made-them-confident-2023-9">chores</a>."Every family is different, and every family has different ways to manage that. Some families prefer not to tie chores and <a target="_blank" class="" href="https://www.businessinsider.com/family-budget-tips-teenagers-give-allowance-vacation-economy-inflation-2024-4">allowance</a>. And there are still great money lessons that can be learned in that way. The Greenlight app is set up so that parents can make that distinction, whichever way they can, either, have money earned for chores or only for special odd jobs above and beyond what their kind of daily expectations might be," Seitz said.Although there has been legislative progress in ensuring financial literacy is incorporated into a child's K-12 educational experience in the US, it's an ongoing process. Until that happens, parents can foster financial literacy skills in their children and connect them with other resources at home.Discussing money can be tricky at any age, but the earlier children start learning about money, the easier it becomes to talk about.

Financial literacy is not always taught in school. Here's how parents can prepare their kids to budget and invest wisely.

<ul class="summary-list"><li>OpenAI's GPT-4 is better than humans at analyzing financial statements and making forecasts, according to a new study.</li><li>"Even without any narrative or industry-specific information, the LLM outperforms financial analysts in its ability to predict earnings changes," the study found.</li></ul>OpenAI's GPT-4 proved to be a better financial analyst than humans, according to <a href="https://deliverypdf.ssrn.com/delivery.php?ID=883022123123082086028082006005099126018076068001039051073088005127013004123104083065018087081117012065113070067041028032110007097064093082007007089067065082124086015120122028127064125080121026113008&amp;EXT=pdf&amp;INDEX=TRUE" target="_blank" rel="noopener">a new study.</a>The findings could upend the financial services industry that, like other business sectors, is racing to adopt generative AI technologies.According to the study conducted by the Booth School of Business at the University of Chicago, the large language model did a better job of analyzing financial statements and making predictions based on those statements."Even without any narrative or industry-specific information, the LLM outperforms financial analysts in its ability to predict earnings changes," the study said. "The LLM exhibits a relative advantage over human analysts in situations when the analysts tend to struggle."The study utilized "chain-of-thought" prompts that directed GPT-4 to identify trends in financial statements and calculate different financial ratios. From there, the large language model analyzed the information and predicted future earnings results."When we use the chain of thought prompt to emulate human reasoning, we find that GPT achieves an accuracy of 60%, which is remarkably higher than that achieved by the analysts," the study said. The human analysts were closer to the low 50% range with regard to prediction accuracy.The large language models' ability to recognize financial patterns and business concepts with incomplete information suggests that the technology should play a key role in financial decision-making going forward, according to the study's authors.Finally, the study found that applying GPT-4's financial acumen to trading strategies produced more profitable trading, with higher share ratios and alpha that ultimately beat the stock market."We find that the long-short strategy based on GPT forecasts outperforms the market and generates significant alphas and Sharpe ratios," the study said.

GPT-4 is better than humans at financial forecasting, new study shows

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>It's the weekend, friends! Scientists finally solved the centuries-long mystery of <a href="https://www.businessinsider.com/starfish-have-multiple-heads-scientists-discover-2023-11">where a starfish's head is</a>.In today's big story, I'm exploring something equally mysterious to me: How people who have achieved financial freedom got there, and what their lifestyles are like.What's on deck: <ul><li>Travel: At least nine people have <a href="https://www.insider.com/overboard-cruise-ship-incidents-this-year-what-happened-2023-11">gone overboard on cruise ships</a> this year.</li><li>Careers: Former Google recruiter reveals <a href="https://www.businessinsider.com/how-prepare-job-interview-applicant-questions-google-recruiter-2023-11">what the smartest candidates did</a> to stand out.</li><li>Life: A doctor warned against <a href="https://www.insider.com/dont-skip-sleep-for-gym-doctor-advice-2023-11">skipping sleep to work out</a>.</li></ul>But first, let's talk freedom.If this was forwarded to you, <a href="https://www.businessinsider.com/subscription/newsletter/insider-today">sign up here.</a><h2>The big story</h2>The work behind financial freedom<a href="https://www.businessinsider.com/subscription/newsletter/insider-today"></a><a href="https://www.businessinsider.com/how-to-achieve-financial-freedom-independence-2022-1"></a><div type="image" title="A collage of browser windows with a gen z person scrolling, drawing, and taking a photo" height="1000" width="2000" msid="105151218" hostid="261" sizebytes="254842"></div>Passive income. Retiring early. Traveling the world. The concept of financial freedom sounds like a dream come true.It's when you don't have to actively work to earn money but still have a source of income that covers your expenses. Insider regularly <a href="https://www.businessinsider.com/how-to-achieve-financial-freedom-independence-2022-1">chats with many people</a> who have achieved this, like Dion McNeeley, a former truck driver who <a href="https://www.businessinsider.com/real-estate-investing-financial-freedom-former-truck-driver-father-2022-3">built a real estate portfolio</a>, and Brian Luebben, who <a href="https://www.businessinsider.com/how-to-make-money-podcasting-advice-financial-independence-2023-11">made podcasting his full-time job</a>.I wanted to understand more about just how much work goes into this — so I spoke with two people who consider themselves financially free. My goal was to figure out how they've been able to do it, and what others might not realize about how much legwork is needed to become truly financially independent (but not yet retired).Spoiler alert: it's actually a lot more work than I expected.<a href="https://www.businessinsider.com/how-to-achieve-financial-freedom-independence-2022-1"></a><div type="image" title="A lone dollar bill is catching on fire amid a brown background" height="1800" width="2400" msid="105151220" hostid="261" sizebytes="488244"></div>Heather Johnson and Brandon Timothy each have Etsy shops that annually generate six figures in revenue. Heather currently only spends around five to 10 hours a week maintaining her Etsy shops, mainly on customer service.She started selling print-on-demand goods in 2021 while working full-time as an MRI tech at a hospital, and also putting in 15 to 30 hours per week to get her shop off the ground. Within one year, she says she generated six figures in revenue and had to reduce her hours at the hospital. The catch? She's still working 30 to 40 hours a week, since she branched out to other ventures like YouTube.Brandon also sells digital products on Etsy, and he's been doing it for nearly a decade. He shared that after four months of selling on Etsy, he was making more than his full-time job as a certified electrician.So, for two years, he used the passive income generated from Etsy (around $4,000 to $5,000 in profit per month) to travel and pay down student debt. Now, his digital products generate around 18,000 Canadian dollars, or $13,000, of revenue per month. (Insider verified this with documentation of his earnings.) Although he achieved profitability on Etsy years ago, he still sometimes works more than 40 hours a week on other ventures.Both their lives still include travel and flexibility. But for them, being financially free definitely requires work. As Heather told me: "What I put into my business is what I get out." Yet, "there's a lot of freedom I feel now."For more stories on financial freedom, check out:<ul><li><a href="https://www.businessinsider.com/how-to-achieve-financial-freedom-independence-2022-1">How to achieve financial freedom, according to 11 couples and individuals under 40 who've done it</a>.</li><li><a href="https://www.businessinsider.com/real-estate-investing-tips-millennial-millionaire-quit-full-time-job-2021-12?r=financialfreedom-lp">A 29-year-old who quit his 6-figure job to invest in real estate full-time is set to earn more than $1.5 million this year. He explains how he used house-hacking to build his portfolio</a>.</li><li><a href="https://www.businessinsider.com/investing-strategy-long-term-wealth-retirement-brokerage-hsa-accounts-crypto-2022-1">A millennial who quit his accounting job and is now earning up to $28,000 a month from his business plans to be a millionaire by 31. Here's how he invests his money</a>.</li><li><a href="https://www.businessinsider.com/millennial-super-saver-real-estate-investor-savings-investing-strategies-wealth-2022-3">27-year-old super saver Avery Heilbron says he saves more than 80% of his income and has hit financial freedom, thanks to extra income from his real estate portfolio and YouTube channel</a>.</li><li><a href="https://www.businessinsider.com/best-real-estate-investing-financial-freedom-books-money-building-wealth-2023-3">A real estate investor shares the 21 investing, personal development, and leadership books that helped him find financial freedom at age 36</a>.</li></ul><h2>3 things in travel</h2><a href="https://www.insider.com/visited-went-to-every-country-in-the-world-favorites-2023-11"></a><div type="image" title="Austria" height="1089" width="1452" msid="105151222" hostid="261" sizebytes="138812"></div><ol><li>A solo female traveler who's visited every country in the world shares her favorite countries (plus, why some didn't make the cut). She based it on their landscapes, diverse cultures, and cuisines. Austria, Pakistan, and Tunisia were <a href="https://www.insider.com/visited-went-to-every-country-in-the-world-favorites-2023-11">among her top 10</a>.</li><li>A commercial airplane took off with two missing windows. The Airbus A321 was headed toward Orlando International Airport. It <a href="https://www.businessinsider.com/airbus-plane-took-off-missing-windows-crew-realized-10k-feet-2023-11">reached 10,000 feet</a> before anyone realized there was a problem.</li><li>At least nine people on cruise ships have gone overboard this year. The chances of falling overboard off a cruise ship are extremely low. Only <a href="https://www.insider.com/overboard-cruise-ship-incidents-this-year-what-happened-2023-11">two of the nine people</a> it happened to this year survived.</li></ol><h2>3 things in careers</h2><a href="https://www.businessinsider.com/gen-z-rejects-promotions-management-roles-traditional-corporate-ladder-2023-11"></a><div type="image" title="Illustration of a man deciding whether to climb a ladder" height="3073" width="4097" msid="105151224" hostid="261" sizebytes="142188"></div><ol><li>Why Gen Zers aren't looking for promotions. It partly has to do with Gen Zers believing that management is unfulfilling. Plus, they don't believe it's <a href="https://www.businessinsider.com/gen-z-rejects-promotions-management-roles-traditional-corporate-ladder-2023-11">worth the pay or stress</a>.</li><li>"I'm a former Google recruiter. The smartest job candidates always did these five things to stand out." The best job applicants are prepared with anecdotes that illustrate lessons they've learned, said Nolan Church, who also recruited for Doordash. They also <a href="https://www.businessinsider.com/how-prepare-job-interview-applicant-questions-google-recruiter-2023-11">shouldn't be afraid to be bold</a>.</li><li>Computer science isn't looking like the promised land of money and job security anymore. Many young job hunters say the process has become tougher after layoffs hit the industry. And the high-flying salaries of the pandemic tech boom <a href="https://www.businessinsider.com/computer-science-major-myth-job-security-money-salary-2023-11">seem unlikely to return</a>.</li></ol><h2>3 things in life</h2><a href="https://www.businessinsider.com/northern-lights-appear-texas-utah-south-dakota-after-double-solar-eruption-2023-11"></a><div type="image" title="A picture from Riverton's national weather service in Wyoming shows purple and green northern lights shining behind a spherical structure in the foreground." height="921" width="1228" msid="105151385" hostid="261" sizebytes="30466"></div><ol><li>Photos show the Northern Lights in places as far south as Texas. The aurora appeared from a double eruption on the sun. Although these <a href="https://www.businessinsider.com/northern-lights-appear-texas-utah-south-dakota-after-double-solar-eruption-2023-11">natural light shows are pretty rare</a> so far south, they could become more common in the next year or so.</li><li>Hit snooze — not the gym — in the morning, doctor advises. Dr. Nicole J. Van Groningen revealed <a href="https://www.insider.com/dont-skip-sleep-for-gym-doctor-advice-2023-11">a list of things she would never do</a>, including skipping sleep to work out instead. Other experts also warned about the dangers of prioritizing exercise over sleep.</li><li>Tis' the season: battle of the hot chocolates. A reporter compared the sweet beverages from Starbucks, Peet's, Coffee Bean, Dunkin', and Krispy Kreme. She was in search of a cup that <a href="https://www.insider.com/best-fast-food-hot-chocolate-coffee-chains-2023-11">felt the most like a warm hug</a> without being a one-note sugar bomb.</li></ol><h2>In other news</h2><a href="https://www.businessinsider.com/wework-ceo-adam-neumann-bio-life-career-2019-8"></a><div type="image" title="wework adam neumann 4 4x3" height="901" width="1201" msid="105151387" hostid="261" sizebytes="118822"></div><ul><li><a href="https://www.businessinsider.com/wework-ceo-adam-neumann-bio-life-career-2019-8">The career rise, fall, and attempted return of controversial WeWork cofounder Adam Neumann</a>.</li><li><a href="https://www.businessinsider.com/stylist-corporate-image-consultant-explains-how-to-do-quiet-luxury-2023-11">I'm a stylist who dresses tech workers, executives, and surgeons. Here's how to get the quiet luxury look</a>.</li><li><a href="https://www.businessinsider.com/missing-continent-argoland-found-155-million-years-after-it-vanished-2023-11">An ancient missing continent was finally rediscovered 155 million years after it vanished</a>.</li><li><a href="https://www.insider.com/taylor-swift-fans-in-argentina-have-camped-for-fivemonths-2023-11">Hardcore Taylor Swift fans have been camping outside a stadium for five months in Argentina</a>.</li><li><a href="https://www.businessinsider.com/nasa-black-hole-james-webb-space-telescope-discovery-early-universe-2023-11">NASA's James Webb and X-ray telescopes found a primordial black hole growing in the early universe just after the Big Bang</a>.</li><li><a href="https://www.businessinsider.com/ram-electric-truck-ramcharger-gas-generator-range-charging-2023-11">Ram made an electric truck with a generator for people who aren't ready to give up gas convenience</a>.</li><li><a href="https://www.businessinsider.com/chain-restaurant-fast-food-open-thanksgiving-2023-11">30 chain restaurants and fast-food spots that are open on Thanksgiving Day 2023</a>.</li></ul><h2>For your bookmarks</h2>Thanksgiving turkey hack<a href="https://www.insider.com/review-faster-way-to-cook-turkey-spatchcock-method-photos-2021-11"></a><div type="image" title="A roasted turkey with vegetables." height="2088" width="2785" msid="105151388" hostid="261" sizebytes="742978"></div>Spatchcocking cut the turkey cooking time down to 75 minutes. Plus, it turned out <a href="https://www.insider.com/review-faster-way-to-cook-turkey-spatchcock-method-photos-2021-11">delicious, beautiful, and easier to carve</a>.The Insider Today Saturday team: <a href="https://www.businessinsider.com/author/diamond-naga-siu">Diamond Naga Siu</a>, senior reporter, in San Diego. <a href="https://www.businessinsider.com/author/dan-defrancesco">Dan DeFrancesco</a>, senior editor, in New York City. <a href="https://www.businessinsider.com/author/hallam-bullock">Hallam Bullock</a>, editor, in London. <a href="https://www.businessinsider.com/author/lisa-ryan">Lisa Ryan</a>, executive editor, in New York City.

Insider Today: Financial freedom's reality

<ul class="summary-list"><li>Former financial analyst Shirley Chock said tai chi helped her thrive in a career prone to burnout. </li><li>She now teaches tai chi full-time to help others boost their focus and energy while reducing stress. </li></ul>Former Yale financial analyst Shirley Chock is no stranger to stress.Throughout her career, she saw her peers crumbling from the pressure of juggling a heavy workload and high-stakes assignments while trying to keep their health and their personal lives afloat.In contrast, Chock found herself much better off, working her way up through the ranks to a manager position and even netting a Working Mother of the Year award, with energy to spare.Her "secret" to success? Tai chi, a traditional Chinese martial art known for slow, gentle movements, which she said helped her stress-proof her routine."I realized I was applying what I was learning in the martial art to my career and my life," she told Business Insider. "It was like I discovered a secret scroll because no one talked about tai chi in this way."Tai chi was the key to <a target="_blank" href="https://www.businessinsider.com/tips-easy-simple-boost-longevity-live-longer-healthier-habits-2024">staying healthy, focused, and energized</a> in a career that left colleagues burned out, according to Chock."They just seemed like they were beaten down and facing obstacles all the time. And it was a much easier road for me to navigate the career," she said. "I had energy at the end of the day."The experience was so profound that Chock left her finance career to teach the art full time with <a target="_blank" href="https://aipingtaichi.com/">Aiping Tai Chi</a>, a Connecticut-based school with a growing social media presence.Now her goal is to create an "army of stress-benders," demonstrating how to use tai chi to reduce stress, improve focus, and boost physical and mental health even (or especially) in a fast-paced, ambitious lifestyle."It helps you to stay centered so that you don't get distracted by all of these things that are trying to pull you away from your focus," Chock said.<h2>How tai chi can make you mentally and physically stronger as you age</h2>Chock found tai chi by accident. She initially used the deliberate, graceful movements of the practice to recover from an injury while training and competing in mixed martial arts and kung fu."I thought it would just be a recovery thing for me because I really wanted to do the cool acrobatic moves," Chock said. "I had this misconception that had was for old people like everybody else."<div type="image" title="Two tai chi practioners performing a routine with swords in traditional uniforms on the beach." height="2667" width="4000" msid="109839611" hostid="261" sizebytes="548708"></div>It's true that tai chi has some serious benefits for healthy aging, helping to improve <a target="_blank" href="https://www.businessinsider.com/anti-aging-exercise-longevity-doctor-peter-attia-2023-10">factors linked to a longer life</a> like balance, mobility, and stability. Evidence also suggests it can help <a target="_blank" href="https://www.businessinsider.com/tai-chi-lower-blood-pressure-more-than-cardio-study-2024-2">lower blood pressure</a>, even in younger people. Practicing tai chi has been linked to better wellbeing, lower risk of anxiety, and <a target="_blank" href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9957102">fewer symptoms of depression </a>in some studies.But Chock was most excited about how learning tai chi was teaching her about <a target="_blank" href="https://www.businessinsider.com/short-morning-routine-improve-focus-reduce-stress-healthier-life-2024-1">habits to improve focus and energy</a> in the rest of her life, and became hooked on the challenge of mastering the subtly of the art.For instance, the tai chi concept of allowing your body to flow with gravity instead of resisting it beautifully illustrates how you can choose to respond to life challenges too, prioritizing what matters instead of becoming distracted by conflicts that ultimately aren't worth your energy.Practicing stress management and focus through movement not only gives you the physical benefits of the exercise, but a deeper understanding of what it means than you might get from picking up a self-help book."You might learn it in theory, but then when you need to apply it, you don't actually have it," Chock said. "Tai chi is a way for you to understand these philosophies in life by learning them through your body. In that moment where you're overloaded, the body just knows what to do."

A financial analyst explains how tai chi 'stress bending' helped her avoid burnout in her high-stakes career 

<ul class="summary-list"><li>The invisible hand is a concept that was coined by economist Adam Smith to illustrate hidden economic forces.</li><li>The invisible hand is a metaphor that describes the unseen forces that impact the free market through actions based on individual self-interest.</li><li>In theory, consumers basing decisions on self-interest creates a positive outcome for the economy.</li></ul>The invisible hand concept was an idea proposed by economist Adam Smith that illustrates the hidden forces behind people's economic choices. It is a foundational concept for<a href="https://www.businessinsider.com/rational-choice-theory" target="_blank" rel="noopener"> rational choice theory,</a> which states that people will make decisions based on their own personal self-interest and benefits. <h2>Understanding the invisible hand and how it works</h2>The metaphor of the invisible hand is used to describe the underlying forces that we don't see that have an impact on people's economic choices. As part of the concept, Smith said that people act in their own best interest, which ultimately benefits the economy as a whole. The theory is often used as a backbone to support the idea of a free market, though <a href="https://www.theatlantic.com/magazine/archive/1998/03/todays-most-mischievous-misquotation/377072/" target="_blank" rel="noopener">some have said in the past that the idea is taken out of context</a>. According to <a href="https://www.linkedin.com/in/michael-edesess-a153202/" target="_blank" rel="noopener">Michael Edesess</a>, Ph.D. and managing partner and special advisor at <a href="https://m1kllc.com/" target="_blank" rel="noopener">M1K LLC</a>, "The best example of how it works was given by Smith himself in that book: 'It is not from the benevolence of the butcher, the brewer, or the baker, that we can expect our dinner, but from their regard to their own interest.' He followed that up by saying, 'By directing that industry in such a manner as its produce may be of the greatest value, he intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention.' These are the two most famous quotes from Smith's long book."Smith adds that people act with their own regard and interests in mind and not with an ulterior motive, but can have positive and unexpected repercussions."In other words, Smith was saying that by solely pursuing their own self-interest — and not any conscious intention to be of help to others — and by trading with each other, the butcher, brewer, and baker all help each other to provide the goods they need for their dinners," explains Edesess.The invisible hand concept is closely related to laissez-faire economics, which proposes that government interference in the economy should be minimal and should run its own course. Based on these ideas, as people act based on their own self-interest, it creates a need for supply and demand and can create a competitive and robust marketplace. "Smith's invisible hand theory shows that an optimal distribution of goods and services among a number of producers and consumers can be achieved without a 'visible hand' directing them to do so," says Edesess. "In fact, a visible hand that does things like dictating prices of goods can cause the end result to be suboptimal. This mistake was made crystal clear in the Communist-era Soviet Union."Quick tip: As people make economic choices based on their own self-interest, there may be a "surplus" for the consumer or producer. <a href="https://www.businessinsider.com/surplus-definition" target="_blank" rel="noopener">Read more about this idea and economic surplus</a>.<h3>How the 'invisible hand' affects the economy</h3>The invisible hand concept is based on the idea of free markets and is said to benefit consumers by creating market equilibrium by people pursuing their own self-interest. In theory, people acting based on their own interests creates supply and demand and market efficiency, creating a positive outcome for the whole of the economy. Without government intervention, the markets work on their own based on consumer preferences and actions.However, the invisible hand theory assumes that consumers are rational when making economic decisions. But that's not always the case. As humans, we don't always behave logically but based on emotions or need. Consider any time you have gone to the grocery store and overspent because you're hungry or sleep-deprived. Additionally, some critics note the possibility of greed and exploitative practices that could be justified due to "self interest" and the invisible hand. "The invisible hand promotes individual self-interest and competition. While this sounds nice, in practice, it's not actually a good thing, because economic theories also point out the 'irrational consumer' making choices say emotionally, impulsively, with incomplete information, and most importantly, generally not being mindful in the moment of what's best for the overall good of society," says Nick Thorsch, founder of environmental sustainability platform <a href="https://share2seed.org/intro" target="_blank" rel="noopener">Share2Seed</a>.While Smith's invisible hand theory is still relevant today, it has also come under scrutiny during the Great Recession and financial crisis of 2008. Given the current pandemic, economic fluctuations and crypto boom, there is more debate about the role of government in the market. In other words, if left unchecked, do consumers really create the best results for the economy when there is no government interference? Or could it lead to greed or economic collapse? Quick tip: The economist Joseph Stiglitz countered this idea many years ago by <a href="https://www.theguardian.com/education/2002/dec/20/highereducation.uk1" target="_blank" rel="noopener">stating there is no invisible hand</a>.<h2>Brief history of the 'invisible hand'</h2><ul><li>Smith's invisible hand concept is said to be inspired by economist Richard Cantillon, who wrote "An Essay on Economic Theory" in 1755.</li><li>In 1759, the term 'invisible hand' first appeared in "The Theory of Moral Sentiments" by economist Adam Smith.</li><li>In 1776, the year of American Independence, the term again appears in "An Inquiry into the Nature and Causes of the Wealth of Nations" by Smith. </li><li>The 1974 Nobel Prize winner in Economics, Friedrich A. Hayek used and expanded on the invisible hand concept.</li></ul><h2>Examples of how the invisible hand works </h2>In theory, the invisible hand inherently creates a free marketplace that supports competition among consumers and works out for the best for everyone. "In contrast to the invisible hand, the heavy hand of government which seeks to direct what is best for others will do so in a far less efficient manner than the individual will for themselves," says <a href="https://www.linkedin.com/in/nicholas-creel-23bb5572/" target="_blank" rel="noopener">Nicholas B. Creel</a>, M.A, J.D., LL.M., Ph.D. and assistant professor of accounting and business law at Georgia College and State University. "An example of this would be how a business owner, seeking only to make themselves better off, might sell an item of higher quality and at a lower price than his competitors," he explains. Keeping prices low may increase demand and create competition among other suppliers offering similar products. "He doesn't do this for the consumer, he does so to win the business of the consumer to make himself better off. The end result is everyone is best off in this scenario. The consumer gets a better and cheaper product, the market maximizes efficiency, and the business owner stays afloat," explains Creel. <h2>The financial takeaway</h2>The invisible hand theory is an important economic concept that is still relevant today. It can offer an explanation into free markets and consumer behavior. While the concept is important, it's also often used out of context or in a way that's out of alignment with Smith's original text. "Smith's theory has been misinterpreted by some modern lay economists and even some professional economists to mean that the unfettered pursuit of self-interest will always produce an optimal result, without any attention whatsoever to communal interests or to altruism, and that government intervention is always bad," says Edesess. "This aberrant strain of economics has been recently dubbed 'market fundamentalism.'"So while the invisible hand plays an important role in the economy and economic history, it's important to look at the nuance and current economic conditions as well.

The invisible hand: A concept that explains hidden economic forces in the market

<ul class="summary-list"><li>Adriana Stein moved to Hamburg, Germany in 2016 for a free master's degree.</li><li>After her student visa was revoked, Stein launched a marketing business to stay in Germany. </li></ul>After accumulating student loan debt for my bachelor's degree in the US, I took a solo backpacking trip to Hamburg and discovered that anyone can <a target="_blank" href="https://www.businessinsider.com/why-germanys-free-college-education-is-actually-not-that-great-2014-10">study for free in Germany</a>. Choosing to pursue my master's degree in Hamburg, I moved there in 2016.Long story short, things didn't work out as planned. I failed the mandatory language test to get into the university, lost my student visa, and almost <a target="_blank" href="https://www.businessinsider.com/moved-to-germany-from-us-school-almost-deported-dont-regret-2023-11">got deported</a>. Still, moving here has been a powerful financial decision, and led me to a cherished career in international marketing.Despite facing immense difficulty with the bureaucratic systems and still struggling to fit in, I've remained in Germany for eight years, here are the main reasons why.<h2>1. The German social support system actually supports individuals and families</h2>While the US provides no federal mandate for <a target="_blank" href="https://www.businessinsider.com/why-america-doesnt-have-paid-leave-2017-9">parental leave</a>, Germany offers loads of support for starting a family — even for those who are self-employed. I run my own international marketing agency in Germany, and I'm still entitled to parental benefits.In Germany, all family-related social benefits are outlined by the <a target="_blank" href="https://familienportal.de/familienportal/meta/languages/family-benefits">Family Ministry</a>, and include the following:<ul><li>Families receive up to 12 months of paid parental leave (in total per family, per child) with 62 to 67% of the parent's last net salary, capped at a monthly net income that converts to around $1,900.</li><li>Families are provided a minimum that converts to about $270 a month in Kindergeld (financial aid for families with children) per child.</li><li>During your parental leave, your employer legally can't fire you.</li><li>You pay a reduced percentage of income tax.</li><li>Your Social Security contribution decreases.</li><li>All medical expenses related to the birth of your child, as well as midwife support afterward, are covered by health insurance.</li><li>If your child is sick, you are allowed 15 days of paid leave per parent, in addition to the EU minimum annual paid holidays of 20 days.</li></ul>Although my husband and I may not stay in Germany forever, we're starting a family soon in order to benefit from the familial support system (which we deserve by now after paying so much into the tax system for many years).<h2>2. I've established deep roots in the German and European business world</h2>As an American and <a target="_blank" href="https://www.businessinsider.com/map-shows-hardest-languages-to-learn-2017-12">native English speaker</a>, my unique expertise in international culture and my ability to speak multiple languages have enabled me to gain financial success in Germany. The international marketing agency I founded is based on that concept, as we specialize in helping international companies expand into Germany and the EU.I've come to realize that regardless of where I live, I need to maintain a deep connection to Germany, in order to maintain my career path. I likely will never permanently leave here.<h2>3. Traveling to new countries doesn't take ages</h2><a target="_blank" href="https://www.businessinsider.com/solo-travel-surprising-things-american-in-europe-2023-3">Traveling in Europe</a> is so easy. The well-connected transport system makes exploring neighboring countries and even the UK a breeze. While not as budget-friendly as it used to be, the majority of <a target="_blank" href="https://www.businessinsider.com/berlin-travel-guide-germany-trip">people in Germany</a> travel abroad every few months. I've traveled to 25 countries around the globe, because of how well-connected the flights and train systems are.When I go home to visit my family in the US, it takes 30 hours and four flights (they live in the middle of nowhere in Oregon), but most destinations within Europe only take a couple of hours to reach.<h2>4. I don't have suspicion about whether the police truly want to help me</h2>Coming from the US, where <a target="_blank" href="https://www.businessinsider.com/number-of-mass-shootingsin-america-this-year-2022-5">concerns about gun violence</a> are a part of everyday life, the increased levels of safety in Germany have been a breath of fresh air. Though violent crime still exists in large cities (and is a primary reason we plan to move to a smaller city soon), it's incomparable to the US.Whereas in the US, I often feared the police due to corruption, shootings, and a for-profit mindset, in the eight years I've lived in Germany, I've had to call the police and ambulance multiple times for various reasons and they've always been incredibly helpful, even speaking English with me most of the time.<h2>5. I've fallen in love with the Turkish culture in Germany</h2><a target="_blank" href="https://www.businessinsider.com/us-germany-relocation-american-move-disappointing-2023-6">Integrating into German culture</a> may be challenging due to its closed-off nature, but the expat community, particularly the Turkish community, has become my community anchor. There's a massive Turkish community in Germany, both expats and first-generation Germans.I'm married to a Turkish man, who I met while living in Germany. I've also found incredible support within "The Turkwerk," a term I playfully coined that combines the words "Turkish" and "network." It describes the tight-knit Turkish community and their ability to come together and help one another, regardless of the location. Their emphasis on family and kindness has made me feel accepted from the beginning.<h2>6. Insurance provides coverage, rather than trying to get out of payments with vague loopholes</h2>In Germany, <a target="_blank" href="https://www.businessinsider.com/how-healthcare-and-insurance-work-around-the-world-2017-7">insurance is basically a way of life</a>. If you live here long enough, you'll end up having insurance for almost everything. I've always been on private health insurance and it has covered all expenses, even when I was once in the hospital for a week.No matter where I rent a car, I use my German insurance because it has absolutely stellar coverage. I was once on a road trip in South Africa with a friend and our tire popped, causing us to total the car. My German insurance covered everything and it was a really easy process to go through.<a target="_blank" href="https://www.businessinsider.com/insurance-companies-get-you-to-pay-more-deny-claims-2023-10">Unlike the US</a>, German insurance companies genuinely aim to help if you've set up the correct terms in your contract — provided you keep your paperwork in order. If there's one tip I can give anyone about Germany, it would be to keep every paper from everything. I guarantee, one day you'll be asked to provide it.<h2>7. Germany is more transparent about the ingredients in the food we buy</h2>I recently visited my family for the first time in seven years and I noticed a huge difference in the amount of added sugar and preservatives in so many foods. The EU and Germany's <a target="_blank" href="https://knowledge4policy.ec.europa.eu/health-promotion-knowledge-gateway/sugars-sweeteners_en#:~:text=Labelling%20of%20sugars%20in%20the%20EU,-In%20the%20EU&amp;text=Under%20Regulation%20(EU)%201924%2F,100%20g%20or%20100%20ml'.">stricter regulations regarding hidden sugars</a> and organic labeling are a lot more transparent about what's actually in the food we buy.Though German cuisine may not be inherently healthy (it's basically constant meat and potatoes), the main ingredients contribute to a more balanced diet because it's less processed. I now understand why my friends didn't really like it when I cooked American-style foods. We use so much more sugar and butter in the US.<h2>8. I'm not constantly bombarded with TV commercials for antidepressants</h2>In the US TV commercials are typically filled with pharma ads, but <a target="_blank" href="https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=LEGISSUM%3Al21143">Germany has basically banned that entirely</a>.When I last visited the US that was another area that shocked me, as I remember watching commercials for additives to antidepressants that also helped with weight loss. It's really sad to see because it's a clear sign of the immense health issues many Americans face and the lack of regulations to cull the for-profit mind of Big Pharma. I'm so grateful for the EU regulations.In Germany, the pharma industry is heavily regulated by the government and I trust the medications doctors prescribe me, as they're not incentivized by commissions.Overall, my journey in Germany hasn't been anything like I thought it would be, but I've found a new family, established a successful career, have found financial stability, and have far less fear about the future when it comes to having children.

I moved to Germany to study but was almost deported. Now I'm financially secure and see a real future here.

<ul class="summary-list"><li>"Twin flame" is a spiritual term gaining traction in the mainstream.</li><li>Two docuseries, on Prime Video and Netflix, explore how an online community, Twin Flames Universe (TFU), used the concept with its members.</li></ul>If someone told you that you had another half, a person who you'll feel a surprising yet undeniable connection with once you meet them and that they can forever change how you see yourself and the trajectory of your life, would you believe them?That's the concept behind "twin flames," a spiritual term describing two humans whose experiences mirror each other in eerily similar ways, and who some believe can greatly impact each other's personal growth upon meeting. It <a target="_blank" href="https://www.allure.com/story/what-is-a-twin-flame">doesn't necessarily have to be a romantic connection</a> to count as a twin-flame dynamic, psychospiritual mentor and love coach Lisa Vallejos told Allure.The term is gaining traction. In 2020, <a target="_blank" href="https://www.insider.com/megan-fox-machine-gun-kelly-instant-connection-dating-interview-2020-7">Megan Fox declared</a> that her then-boyfriend (and now-husband Machine Gun Kelly) was her twin flame, saying that they are two parts of the same soul. Kelly went on to write the song "Twin Flame." On TikTok, #twinflames currently has more than 6 billion views. And now, one particular online community of 66,000 twin-flame believers, called Twin Flames Universe (TFU), is the subject of two docuseries.<h2>Twin flame vs. soulmate</h2>Twin flames appear to date back to Greek mythology, when <a target="_blank" href="https://noetic.org/blog/understanding-twin-flames/">Plato mentioned the term</a> in "The Symposium" 2,500 years ago. But in the last few decades, certain spiritual circles and groups have adopted and reinterpreted the concept, using it to guide their searches for lifelong love and partnership. One of the most popular groups, called Twin Flames Universe, now has former members alleging its creators, the married couple Jeff and Shaleia Ayan, manipulated them into dangerous or abusive situations, according to Vanity Fair reporter Alice Hines' <a target="_blank" href="https://www.vanityfair.com/style/2020/12/inside-the-all-consuming-world-of-twin-flames-universe">investigation</a>.When the philosopher Plato wrote about twin flames, he said that meeting yours would feel like meeting "the actual half of himself" and that instant feelings of love, friendship, and intimacy will leave both twin flames feeling "amazement," according to the Institute of Noetic Sciences, a group of scientists exploring how the natural and metaphysical worlds interact.But twin flames isn't a synonym for "soulmates," and it's a misconception that twin flames must be romantically or sexually involved, according to Vallejos."You meet them and your life just completely changes. You start seeing the world differently. It pushes you to want to engage with the divine, shift consciousness, and become a better, soulful being in this experience," Vallejos told Allure.Twin flames could be lovers, best friends, siblings, or in a mentor-mentee relationship, so long as both flames influence each other to look inwards for self-betterment, according to Vallejos.But there isn't a singular, agreed-upon definition for the term. The Ayans and TFU members, for example, say that being "in union" with your twin flame, marrying them and committing to them above anyone else, is the ultimate goal, according to Hines' reporting. But not all twin flames believers think you must marry your twin flame, <a target="_blank" href="https://www.reddit.com/r/twinflames/comments/r56qm0/is_it_possible_for_a_twin_flame_to_be_married/">Reddit</a> and <a target="_blank" href="https://www.quora.com/Why-does-the-twin-flame-community-get-triggered-when-you-say-that-twin-flames-are-not-meant-to-be-in-Union">Quora</a> threads on the topic suggest.<h2>What is the Twin Flames Universe and why is it controversial?</h2>Jeff and Shaleia Ayan are a couple that considers themselves each other's twin flames. They met online in 2012 and shortly after they launched what would become TFU, a community and course-based business to help others find and connect with their own twin flames. Their <a target="_blank" href="https://www.facebook.com/Twinflamesuniverse/">Facebook group</a> currently has 66,000 followers from around the world."Your twin flame is your ultimate lover, your perfect complement of all," Jeff says in a Twin Flames Universe video on YouTube, where the couple regularly upload content, and many videos have garnered tens of thousands of views. In other videos, the Ayans elaborate on this idea, describing a mirror exercise – where someone writes one sentence about what or who is upsetting them, then rewrites the sentence in first person – followers can do to secure their twin flame, and explaining how finding them can lead to a life of abundance, like landing a dream job or reaching a financial goal.The Prime Video docuseries "Desperately Seeking Soulmate: Escaping Twin Flames Universe,'' released on October 6, explores how the Ayan's group gained popularity and what it was like to be a member. In it, Hines, the Vanity Fair journalist, says that she found the Ayans used mind games to convince TFU members to stalk their exes and pay thousands of dollars for online courses about how to find and secure your twin flame, even if they couldn't afford them. Former members corroborate Hines' findings that they were manipulated into relationships or sexual encounters they didn't really want while trying to secure their twin flames under the Ayan's guidance.Netflix is also releasing a docuseries on the group on November 8, called "Escaping Twin Flames," which includes interviews and video footage of former TFU members, many who were not in the Prime series. In the Prime series, the Ayans did not comment or provide original interviews, while in the Netflix series they offer comment, denying claims that they manipulated members."We take seriously recent allegations implying we wield inappropriate control over our community members," a representative for TFU said in a statement to Insider."The allegations levied against Twin Flames Universe not only distort our true aims, methods, and curriculums but also misrepresent the autonomy of our community members, who are free to engage with our resources as they see fit. We are committed to confronting these allegations in an open and accountable manner."

What is a twin flame? Everything to know about the spiritual concept that led some to a cult-like group

<ul class="summary-list"><li>I make a good living as a freelance writer, but I still have debt and financial anxiety.</li><li>There are some emotional reasons behind my financial habits and I recently sought help for both.</li></ul>Last year, I made $250,000 before taxes as a self-employed writer, yet I'm still in debt. While I could justify my financial situation easily — living in an expensive city like New York makes my $250,000 pre-tax income <a target="_blank" href="https://www.businessinsider.com/making-six-figure-salary-in-new-york-feels-like-36k-2023-3">feel like about $90,000</a> after taxes — I also realized this spring that I have underlying emotional reasons that keep me stuck in negative financial patterns, and I'm ready to change them. My debt is a hangover from my childhood trust issues. It's my biggest barrier to intimacy and keeps me stuck in a <keyword id="18761161" type="General" weightage="20" keywordseo="peter-pan-like" source="Orion">Peter Pan-like</keyword> cycle of never being ready for the life I want. So, this spring, I made a big adult move: I hired my first financial planner, a couples-focused money counselor and licensed therapist named <a target="_blank" href="https://www.healthyloveandmoney.com/">Ed Coambs,</a> who writes and speaks about the connection between money and emotional intimacy. So why did a couples-focused financial planner agree to meet with me — a single, childless, 33-year-old with debt and trust issues? He said that working with me still counts as working with a couple because clearing my money shame will help me become more emotionally available to an equally stable partner. And, like all good therapy, my journey started with getting honest. <h2>What financial intimacy feels like — and why it's so scary</h2>Before we ever talked about his fees or services, <keyword id="18761159" type="General" weightage="80" keywordseo="coambs" source="Orion">Coambs</keyword> offered me two free one-hour <keyword id="10296" type="General" weightage="50" keywordseo="zoom" source="Orion">Zoom</keyword> sessions to discuss the process of working one-on-one with a financial planner. Unpracticed in sharing details about my finances with someone, I was nervous. He asked me about my financial goals and habits, along with a few questions meant to uncover my deeper financial beliefs. He inquired about the positive lessons I picked up from my family of origin, along with any limiting notions or knowledge gaps. During our conversation, I felt wary and doubtful, a reaction I'd also experienced before while dating. As someone working through abandonment and trust issues, I often scrutinize my dates, searching for reasons to reject them preemptively. But what if there was another approach — in both dating and other contexts? Rather than let my fears rule the show, I made a list of questions for Coambs and interviewed five other planners to compare my options. Unlike the child who felt abandoned, I realized I now had adult tools to advocate for myself. Coambs respected my questions, answered them thoughtfully, and emphasized that the choice ultimately lay with me. As I signed off Zoom that day, I realized I would only see progress with a financial planner if I showed up with courage and sincerity. <h2>Working with a fee-only financial planner</h2>I ended up hiring Coambs. He is a <a target="_blank" href="https://www.businessinsider.com/personal-finance/fee-only-financial-advisor">fee-only fiduciary,</a> meaning he doesn't profit from any investments he recommends, but instead charges a straightforward flat rate for our work together. (A tip for anyone <a target="_blank" href="https://www.businessinsider.com/personal-finance/why-hire-fee-only-financial-advisor-2019-6">hiring their first financial planner</a>: A fee-only structure is meant to avoid conflicts of interest.) When I hired him in July 2023, Coambs' rate was on a sliding scale based on a client's income and financial standing. It started at $5,000 a year plus 1% of the client's overall net worth. My payment, Coambs informed me, could be broken into monthly, quarterly, or annual installments. I chose the quarterly option. <h2>Thinking ahead and designing your life</h2>Though $5,000 may seem like a steep fee for someone new to financial planning, it is significantly less than the price I've already paid for trying to manage my money alone for the past two years as a sole proprietor without support. In my first two years of self-employment, I've missed out on opportunities for tax savings while paying interest on debt that I've tried repeatedly to pay off. As Coambs reminded me, now that I am capable of making $250,000 a year (or more!), I could make $1 million in revenue over the next four years. The opportunity cost of not properly planning what to do with a million dollars is steep. In four years, I don't want to still be living in my small studio apartment, paying off debt, and feeling confused about how much I owe in taxes; I want to have a healthy savings account, a growing retirement fund, and a home where I feel excited to start a family. <h2>How to forgive yourself for past — or current — financial mistakes</h2>Despite my new enthusiasm, there was one step I was dreading: After our preliminary meetings, I would have to link my accounts to Coambs' financial-planning software. I was embarrassed. He would soon see all my account balances, including my debt. I'm still paying off <a target="_blank" href="https://www.businessinsider.com/personal-finance/graduate-school-worth-student-loans-its-complicated-2019-7">five figures in student loans</a> I took out between 2015 to 2017. I also racked up some credit-card and personal-loan debt when I quit my job to freelance full time in 2021. Though I surpassed my revenue expectations in my first two years of self-employment, I also spent money on what felt like failed experiments: signing up for an expensive mastermind program that didn't actually help me, impulse purchasing logos on Fiverr, paying a website designer and copywriter for an idea before testing the proof-of-concept, hiring an assistant for two months without a plan for making back my return on investment — you get the idea. A lot of trial and error is involved with running your own business. Sensing my embarrassment, Coambs asked me to describe my feelings. I said I felt ashamed that I — a financial journalist — could have spent years reporting on money-related topics without applying that knowledge to my personal situation and becoming debt-free. He reminded me how normal it is for human beings to learn concepts intellectually before actually practicing them in their life and acknowledged my integrity for seeking support to improve my situation. He also introduced the human-capital theory to me, which is an economic theory that validates the choice to use debt to pay for experiences that help us grow. Given that much of my debt comes from education and funding my business, this shifted my perspective and helped me release some of my shame. <h2>Covering my financial-planning basics</h2>Once Coambs and I began to clear my lingering money shame, we focused on financial-planning basics. Though we're still early in our work together, we've outlined a plan with a few key focus areas: <h3>Understanding my 'financial attachment' style</h3>I have an <a target="_blank" href="https://www.insider.com/guides/health/mental-health/anxious-attachment-style">anxious attachment style</a> in personal relationships, and I'll admit my money-management style is also fraught with anxiety. According to Coambs, those with an anxious attachment style may have trouble saving money or even accrue debt because of impulsive decisions made from an underlying fear that money will "abandon" us or run out. In a traditional financial-planning session, I'd probably internalize all of my anxiety and focus only on the numbers. But in sessions with a licensed therapist and certified financial planner like Coambs, clients are encouraged to talk through their feelings. It's easier to make intentional decisions once we neutralize the doom-and-gloom scenarios living rent-free in our minds. <h3>Tax planning as a self-employed freelancer</h3>As a self-employed freelancer, one of my first priorities is going to be setting up my business in tax-incentivized ways, saving for taxes every month, and paying them in quarterly installments. <h3>Saving for retirement</h3>With the days of an employer matching my 401(k) behind me, retirement planning is also going to be one of my top financial-planning priorities in 2024. After talking with a fellow self-employed creator, I realized I was paying almost double in taxes as an individual than what I would have if I'd <a target="_blank" href="https://www.businessinsider.com/how-to-know-elect-s-corporation-status-freelancer-taxes-2022-1">filed for S-corporation status</a>, which is something I'm bringing to my work with Coambs to plan better for 2024. <h3>Diversifying revenue streams</h3>Though I don't know exactly what my future holds, I know I'd like the ability to scale back my working hours in the next few years when I'm ready to become a parent. I will need to set up some income streams that are less tied to my productivity, whether they be real estate, digital products, or investment vehicles. Coambs and I have not begun to discuss the specifics, but this is definitely on my to-do list. <h2>Becoming more financially transparent — and more emotionally available</h2>Working with a therapy-informed financial planner is good practice for letting another human being into my emotional and financial worlds. Having a financial plan is also a huge confidence boost when dating. I feel less embarrassed about my past, more sure-footed about my future, and certain of the value (financial and otherwise) I will bring to a potential partnership. And as someone <a target="_blank" href="https://www.insider.com/spouse-partner-helping-teach-me-about-budgeting-2023-9">still paying off debt</a>, I know I won't need my partner to save me. Rather, I'm looking for someone to cheer me on and be my emotional confidant as I walk the path I've created independently — and maybe, with time, that path will merge with theirs.

I make $250K a year but still have financial anxiety and debt. A financial therapist is helping me let go of my shame — and set myself up for the future.

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