By Alana Benson | NerdWallet

The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.

Whether it’s going to bed before midnight, eating broccoli, or dealing with your finances, doing the “right” thing can sometimes feel like a herculean effort.

Similar to an erratic sleep schedule or an aversion to eating green things, there are consequences to delaying wise financial moves. If you avoid creating a budget, putting your bills on autopay or learning how to invest, your financial life may become more stressful.

But knowing something is good for you isn’t always enough to make you do it. Many people have complicated feelings around money, and for good reason. Getting to the bottom of those feelings may be the most effective way to deal with avoidant tendencies.

Uncovering your financial beliefs

To get to the root of your financial anxieties, it may be helpful to learn about your “money scripts,” a term that’s a registered trademark of the Financial Psychology Institute. Money scripts are what financial therapists call the unconscious beliefs we hold about money. Often, these beliefs are rooted in our childhood and continue to shape our financial lives as adults.

Rick Kahler, a certified financial therapist and founder of the Kahler Financial Group in Rapid City, South Dakota, had one client who struggled to save despite being a high-earning professional. Through several interviews, Kahler learned that the client’s parents had filed for bankruptcy when she was a child, and in the process, she lost her own savings.

“She just knew that all her money that she worked hard to save disappeared. And so the lesson she took away from that was ‘don’t save money, because it will disappear,’” says Kahler.

Georgia Lee Hussey, a certified financial planner and founder of Modernist Financial, a B Corp wealth management firm in Portland, Oregon, says that taking what may seem to be a logical step, such as investing just a small amount, before unearthing your deeper emotions may sometimes do more harm than good.

“The small step to get closer to the logical action is actually a reinforcement of the mega story,” says Hussey.

Tools you can use

While uncovering your money scripts may feel daunting, there are a lot of tools out there that can help you get started. You can take the Klontz Money Script Inventory-Revised (KMSI-R), which is a free short quiz that helps you identify your dominant money scripts and offers actionable advice. The KMSI-R evaluation is offered by Your Mental Wealth Advisors, a financial advisor firm based in Burlingame, California, that focuses on overall financial health. Hussey’s firm offers a similar reflective experience you can download for free that can help you facilitate a conversation about your money history.

And if you’re able, it may be worth working with a financial therapist in conjunction with these tools.

“Working with a financial therapist can really help,” says Kahler. “But if a person doesn’t want to do that, they may want to employ journaling or mindfulness meditation that is specifically geared to money scripts. But typically, people can make pretty good progress in really focusing on their personal situation, and a financial therapist can help with that.”

Be ok with baby steps

After doing some deep work on your money story, and on how your long-held beliefs came to be, you may be feeling ready to take some small steps toward a better financial future.

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A few baby steps you can consider could include moving your money into a high-yield savings account instead of a standard savings account. If you have a 401(k) with an employer match, you could also look into contributing enough to receive that match.

But be ready for those old stories to come up, because even an account type like a 401(k) may become an emotional stumbling block.

“One of my favorites from the Great Recession is, ‘I’m not going to invest in a 401(k) because my uncle lost all of his money in his 401(k),’” says Hussey. “It wasn’t the 401(k) that was the problem. It was your uncle, who in the middle of the night got freaked out and sold everything in his 401(k) at the bottom of the market. That’s actually what was wrong. It was the human making an emotional decision. The 401(k) itself is just a tax wrapper. It has no personality. It doesn’t do things to anybody. So let’s unpack what that story is about.”

Hussey encourages people to deeply investigate where the stories they’ve heard about investing came from.

“I think those kinds of questions like, ‘What am I telling myself? Where’s it coming from? Who told it? What was the location I heard that? Where do you think they heard that from?’ That’s how we start to unpack these stories about investing and saving,” says Hussey.

This article was written by NerdWallet and was originally published by The Associated Press.

 

The article Is Financial Trauma Holding You Back From Living Your Best Life? originally appeared on NerdWallet.

EAST GRAND FORKS, Minn. — The American Crystal Sugar plant in East Grand Forks has been fined $350,000 for air quality violations, the Minnesota Pollution Control Agency announced Tuesday.

Among the violations was a release of more hydrogen sulfide and particulate matter than the Red River Valley plant’s permit allows, according to the MPCA.

After staff inspections and reviewing company records, the MPCA determined the plant:

Failed to properly operate multiple pieces of pollution control equipment and dust control systems in 2020 and failed to identify corrective actions in 2022.
Failed to continuously operate air monitoring equipment for up to 40% of the required time during the second half of 2020.
Had a performance stack test failure in February 2022 for emissions of particulate matter by 110% of the permitted limit, small particulate matter by nearly 4% and filterable particulate matter by 99% of the limit.
Exceeded hydrogen sulfide emission limits during the 2020 and 2022 monitoring seasons.
Missed four quarterly equipment inspections since October 2021.
Failed to update and maintain its operation and maintenance plan and to provide adequate training for staff on plan implementation and record keeping.

American Crystal Sugar couldn’t be immediately reached for comment on the agency’s action.

A law enacted in Minnesota in 2023 requires that 40% of enforcement penalties of $250,000 or more go to local community health boards that are located near the violating entity.

The MPCA said that “this is the first case the MPCA has completed that meets the criteria since this statute went into effect.”

Based on the new law, part of the penalty funds will go to the Polk-Norman-Mahnomen Community Health Board.

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The Minnesota Valley Chapter of the Izaak Walton League’s Youth-Led Green Grew has launched its Tree Equity project — timed with Arbor Day and Earth Day — with the goal of rejuvenating the urban forest of the city of Landfall.

From 9 a.m. to 3 p.m. on Saturday, young people from throughout the Twin Cities will gather to plant 80 trees in Landfall, taking steps towards a greener future for the city.

The event, taking place at the Landfall Village Office at 1 Fourth Ave., will combat Landfall’s diminishing urban forest due to the emerald ash borer infestation.

Suryash Rawat, the Green Grew vice president and Minnesota Valley Chapter Board member, is leading the initiative and has secured grants and volunteer donations to help replace trees lost to the infestation.

“The Tree Equity project is about more than just planting trees,” Rawat said in a statement. “It’s about equity, justice and community empowerment. By restoring our urban forest, we’re not only enhancing our environment but also fostering a sense of pride and ownership within communities.”

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By COLLIN BINKLEY, STEVE LeBLANC and BIANCA VÁZQUEZ TONESS (Associated Press)

Students at a growing number of U.S. colleges are gathering in protest encampments with a unified demand of their schools: Stop doing business with Israel — or any companies that support its ongoing war in Gaza.

The demand has its roots in the Boycott, Divestment and Sanctions movement, a decades-old campaign against Israel’s policies toward the Palestinians. The movement has taken on new strength as the Israel-Hamas war surpasses the six-month mark and stories of suffering in Gaza have sparked international calls for a cease-fire.

Inspired by ongoing protests and the arrests last week of more than 100 students at Columbia University, students from Massachusetts to California are now gathering by the hundreds on campuses, setting up tent camps and pledging to stay put until their demands are met.

“We want to be visible,” said Columbia protest leader Mahmoud Khalil, who noted that students at the university have been pushing for divestment from Israel since 2002. “The university should do something about what we’re asking for, about the genocide that’s happening in Gaza. They should stop investing in this genocide.”

Campus protests began after Hamas’ deadly Oct. 7 attack on southern Israel, when terrorists killed about 1,200 people, most of them civilians, and took roughly 250 hostages. During the ensuing war, Israel has killed more than 34,000 Palestinians in the Gaza Strip, according to the local health ministry, which doesn’t distinguish between combatants and noncombatants but says at least two-thirds of the dead are children and women. Hamas has been designated as a terrorist organization by the United States, Canada and the European Union.

WHAT DO THE STUDENTS WANT TO SEE HAPPEN?

The students are calling for universities to separate themselves from any companies that are advancing Israel’s military efforts in Gaza — and in some cases from Israel itself.

Protests on many campuses have been orchestrated by coalitions of student groups, often including local chapters of organizations such as Students for Justice in Palestine and Jewish Voice for Peace. They’re banding together as umbrella groups, such as MIT’s Coalition Against Apartheid and the University of Michigan’s Tahrir Coalition. The groups largely act independently, though students say they’re inspired by peers at other universities.

The demands vary from campus to campus. Among them:

Stop doing business with military weapons manufacturers that are supplying arms to Israel.
Stop accepting research money from Israel for projects that aid the country’s military efforts.
Stop investing college endowments with money managers who profit from Israeli companies or contractors.
Be more transparent about what money is received from Israel and what it’s used for.

Student governments at some colleges in recent weeks have passed resolutions calling for an end to investments and academic partnerships with Israel. Such bills were passed by student bodies at Columbia, Harvard Law, Rutgers and American University.

HOW ARE COLLEGES AND UNIVERSITIES RESPONDING?

Officials at several universities say they want to have a conversation with students and honor their right to protest. But they also are echoing the concerns of many Jewish students that some of the demonstrators’ words and actions amount to antisemitism — and they say such behavior won’t be tolerated.

Sylvia Burwell, president of American University, rejected a resolution from the undergraduate senate to end investments and partnerships with Israel.

“Such actions threaten academic freedom, the respectful free expression of ideas and views, and the values of inclusion and belonging that are central to our community,” Burwell said in a statement.

Burwell cited the university’s “longstanding position” against the decades-old BDS movement.

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Protesters in the movement have drawn parallels between Israel’s policy in Gaza — a tiny strip of land tucked between Israel, Egypt and the Mediterranean Sea that is home to about 2.3 million Palestinians — to apartheid in South Africa. Israel imposed an indefinite blockade of Gaza after Hamas seized control of the strip in 2007.

Opponents of BDS say its message veers into antisemitism. In the past decade alone, more than 30 states have enacted laws or directives blocking agencies from hiring companies that support the movement. Former Education Secretary Betsy DeVos called it a “pernicious threat” in 2019, saying it fueled bias against Jews on U.S. campuses.

Asked this week whether he condemned “the antisemitic protests,” President Joe Biden said he did. “I also condemn those who don’t understand what’s going on with the Palestinians,” Biden said after an Earth Day event Monday.

At Yale, where dozens of student protesters were arrested Monday, President Peter Salovey noted in a message to campus that, after hearing from students, the university’s Advisory Committee on Investor Responsibility had recommended against divesting from military weapons manufacturers.

President Minouche Shafik at Columbia said there should be “serious conversations” about how the university can help in the Middle East. But “we cannot have one group dictate terms,” she said in a statement Monday.

MIT said in a statement that the protesters have “the full attention of leadership, who have been meeting and talking with students, faculty, and staff on an ongoing basis.”

HOW MUCH MONEY ARE THE SCHOOLS RECEIVING?

On many campuses, students pushing for divestment say they don’t know the extent of their colleges’ connections to Israel. Universities with large endowments spread their money across a vast array of investments, and it can be difficult or impossible to identify where it all lands.

The U.S. Education Department requires colleges to report gifts and contracts from foreign sources, but there have been problems with underreporting, and colleges sometimes dodge reporting requirements by steering money through separate foundations that work on their behalf.

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According to an Education Department database, about 100 U.S. colleges have reported gifts or contracts from Israel totaling $375 million over the past two decades. The data tells little about where the money comes from, however, or how it was used.

Some students at MIT have published the names of several researchers who accept money from Israel’s defense ministry for projects that the students say could help with drone navigation and missile protection. All told, pro-Palestinian students say, MIT has accepted more than $11 million from the defense ministry over the past decade.

MIT officials didn’t respond to an emailed request for comment.

“MIT is directly complicit with all of this,” said sophomore Quinn Perian, a leader of a Jewish student group that is calling for a cease-fire in the Israel-Hamas war. He said there’s growing momentum to hold colleges accountable for any role they play in supporting Israel’s military.

“We’re all drawing from the same fire,” he said. “They’re forcing us, as students, to be complicit in this genocide.”

Motivated by the Columbia protests, students at the University of Michigan were camping out on a campus plaza Tuesday demanding an end to financial investments with Israel. They say the school sends more than $6 billion to investment managers who profit from Israeli companies or contractors. They also cited investments in companies that produce drones or warplanes used in Israel, and in surveillance products used at checkpoints into Gaza.

University of Michigan officials said that they have no direct investments with Israeli companies, and that indirect investments made through funds amount to a fraction of 1% of the university’s $18 billion endowment. The school rejected calls for divestment, citing a nearly 20-year-old policy “that shields the university’s investments from political pressures.”

WHAT’S NEXT FOR THE STUDENTS?

Students at Harvard and Yale are demanding greater transparency, along with their calls for divestment.

Transparency was one of the key demands at Emerson College, where 80 students and other supporters occupied a busy courtyard on the downtown Boston campus Tuesday.

Twelve tents sporting slogans including “Free Gaza” or “No U.S. $ For Israel” lined the entrance to the courtyard, with sleeping bags and pillows peeking out through the zippered doors.

Students sat cross-legged on the brick paving stones typing away on final papers and reading for exams. The semester ends in a couple of weeks.

“I would love to go home and have a shower,” said Owen Buxton, a film major, “but I will not leave until we reach our demands or I am dragged out by police.”

The Associated Press’ education coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find AP’s standards for working with philanthropies, a list of supporters and funded coverage areas at AP.org.