Trenchant Research on How Birth Order Affects the Way You Spend Money

Thanks to Brown and Grable by way of Horkey for this description of how birth order affects the way we spend money.

Was blind, but now I see. By “trenchant” I mean amazingly facile.

First born. My oldest brother. The best editor I’ve ever had:

The oldest child in the family tends to be mature, confident and, more often than not, a perfectionist. As a result of the responsibilities and expectations placed on them by parents at an early age, older siblings are well organized and generally in control of their lives.

‘Firstborns handle money differently. I see a pattern in a lot of people that I know. They are viciously protective of making sure bills are paid on time and living within their means, which includes building savings and investments.’

Middle child(ren). My sissy and older brother. The best middle siblings I’ve ever had:

“While the oldest child is often given the lion’s share of attention from parents, and the youngest can typically do no wrong, the middle child might feel lost in the shuffle.

Middle children are resigned to the fact that someone is always both ahead of and behind them in terms of familial structure. As a result, they are often found to be naturally gifted problem solvers with excellent negotiation skills. And when it comes to financial habits, the middle child is a born saver, with nearly 65 percent of the group contributing money to their savings accounts each month.'”

The youngest. Myself. Such a perfect, little, Idaho potato that my parents immediately decided to procreate no more:

“More often than not, this person is. . . the life of the party.

While the youngest children might seem charming and fun to be around, they also tend to demonstrate bad spending habits and are typically the least financially responsible of their siblings. It doesn’t help that parents have often become more lenient about discipline by the time the second or third child is born.

Parents have a habit of overindulging and spoiling the youngest children in families. Ultimately, this desire to protect the baby of the family can backfire, causing the individual to spend rather than save for a rainy day.”

Thanks to these poignant insights, I’m going to start trying to save more money. All while remaining true to my life of the party, charming, fun to be around self.


Read This If. . .

You enjoy iconoclasts, craft beer, and independent businesses—Dick Cantwell’s Beer is Immortal (Allecia Vermillion).

You think we’ve ruined kindergarten. The Joyful, Illiterate Kindergartners of Finland (Tim Walker).

You wonder what makes dogs happy. Hint: The answer is in their tails. The secret lives of dogs: Emotional sensor helps owners understand their pup’s feelings (Michael Walsh).

Inside Amazon

Despite only being two to three days old, this New York TImes Amazon expose has generated 5,735+ comments. And a rebuttal by Amazon’s founder and CEO, Jeff Bezos.

First, let’s acknowledge that the trustworthiness of the Times’s investigative reporting has regrettably slipped in recent years. Despite that, it’s an amazing peek inside the company that so many consumers, myself included, have to this point mindlessly supported. And by amazing, I mean really disturbing.

It’s a precautionary tale for any business or organization that believes data analysis or “metrics” is the answer to all problems.

Bezos says its not the company he knows. That probably means he’s completely lost touch with most of his employees’ day-to-day realities.

Amazonians’ long hours and personal sacrifices might make sense if it had a more inspiring mission than sell more shit and dominate retail. Another reminder that materialism shapes 21st Century U.S. life and wealth is a powerful motivator.

In skimming a small cross-section of the comments, I was struck by how many readers said they were completely cutting the Amazon chord. Will they follow through? Will they slow the giant retail supertanker? Time will tell.

It’s Self-Evident, All Flyers are Created Unequal

Yesterday, while traveling from San Jose to Seattle, it suddenly dawned on me that I’m an air travel “Have Not”. Which is probably a good thing since everywhere else I’m a “Have”.

Air travel “Haves” zip through special “pre-TSA screening” security checks; wait with other “Haves” in special “members only” lounges that are probably decked out with soft frozen yogurt machines; and board way before you and me.

Alaska Airlines employs an especially detailed caste system for boarding passengers.

1st—Russell Wilson.

2nd—Families with babies.

3rd—First class.

4th—Gold platinum members.

5th—MVP Elite members.

6th—Those people who can pronounce Ta-Nehisi Coates correctly.

7th—Ron Byrnes.

Sentence to Ponder

From an article on Jeb Bush’s taxes in today’s WSJ.

“The average rate for middle-income households was projected to be 12% in 2013, the latest available data.”

The top 1% of earners, who do 99% of the complaining about tax rates, pays an average of 33%.

What percentage of people in developed countries would sign on to pay 12%? Trick question. Somewhat less than all because some (many?) would not want to accept the trade-offs of minimal taxes including worsening infrastructure, expensive health care, and tens of million in poverty.