People are using the beginning of fall as the best time to reset their goals and values, inspired by a social-media trend
3 min
October is traditionally the time to break out the cozy sweaters and consume as many pumpkin-spice drinks as possible. Instead, people are now using it to reset their goals.
Dubbed “October Theory,” these people are rethinking their approach to the last three months of the year. They’re using it as a time to set goals, pick up new habits and reflect—essentially taking on the role New Year’s plays.
October Theory is the latest “theory” social media has latched onto. Between the uneven job market, inflation, and the usual daily grind, people are looking for something they can control. Setting goals and improving their lives —whether it’s their health, finances or mindset—is something they are gravitating toward.
Sarah Stone, a 35-year-old Realtor in Kansas City, Mo., says October is a better time to reflect on the previous nine months and also home in on what she wants to achieve in the last few months of the year. This month, she’s decluttering her home and purging habits such as too much impulse shopping at TJ Maxx.
“It feels almost like the beginning of the year is in the wrong place on the calendar,” says Stone.
October can feel like an introspective time for people since the seasons are changing, a new academic school year has started and the current year is on its way out, says Laurie Kramer, a licensed clinical psychologist and a professor of applied psychology at Northeastern University. The Jewish new year—Rosh Hashana—also takes place in September or October, giving millions a time to reflect.
“This is a great time, 90 days from the new year, from the holidays, to reassess, see where you are with things,” Kramer says.
October Theory is catching on partly because it sets someone up for success by the time January rolls around, say fans of the trend. Instead of picking up a new habit in the dead of winter—at the same time everyone else is trying to make it to the gym, for instance—it has already been in place for three months.
Every new year, Allison Bucheleres, a 30-year-old lifestyle and fashion content creator in Miami, tries to set new goals. Often, she fails because she doesn’t have a routine in place to make it happen.
Most of her goals this month revolve around setting new daily routines, such as waking up at 7 a.m., journaling her thoughts and writing self-affirmations to reframe her thinking. Around the middle of the day, she’ll repeat her positive phrases—at times over 100 of them—and will sometimes write one on a sticky note to post on her bathroom mirror.
Bucheleres’s newest self-mantra: “I can control my work and my self belief, but not the timing.”
Simple behaviours that are easy to repeat could take as few as 30 times to become a habit. More complex ones, such as going to the gym, could take up to three months of daily practice, says Wendy Wood, professor emerita of psychology and business at the University of Southern California.
The best time to change behaviour is during a big life change, such as moving to a new house or starting a new job or relationship—regardless of whether it’s in January or October, she says.
“You have a sort of window of opportunity to make decisions about what you want to do without your old habits getting in the way,” Wood says.
Others view October as a last chance to fulfil the goals and aspirations they set months ago.
That includes Mateo Pérez, who is in the final stretch for his weightlifting and running regimen. The 19-year-old sophomore, who is majoring in creative advertising at the University of Miami, is also working on an application to transfer to New York University for the fall 2025 semester. Pérez wants to finish the application by the end of this semester in December.
“Right now, it’s like a reflection of this whole year and how can we make the most of the last three months,” Pérez says.
Psychologists say being introspective—at any time of the year—helps people develop habits and routines. It is often the key to following through on your goals.
Two Octobers ago, Kelly Sites, a 38-year-old customer-support manager and content creator, decided to stop living overseas. By February, she had moved to Kansas City, Mo.
This year, she’s trying to set up a daily meditation and breathing practice, and eat more whole foods. In a TikTok post on Oct. 2, Sites encouraged people to go to their photo albums and type in October to see how much their lives have changed in the 10th month of the year.
“It’s this idea of hibernation, seasons changing,” Sites says. “There’s always seeds of my life that were planted in October that changed the rest of the year.”
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Rare banknotes can yield big bucks, if you know what to look for
4 minEven as the world increasingly moves toward digitised commerce, where transactions are conducted with the tap of a credit card and billions of dollars are moved electronically between banks, there is one group of people for whom hard cash is still king: collectors.
As an alternative asset class, collectible banknotes offer significant potential value to investors, and the market for these paper artefacts is thriving. Aris Maragoudakis , director of world currency auctions at Stack’s Bowers Galleries in Costa Mesa, Calif., estimates the hobby sees annual trade of well over $500 million globally.
In fiscal year 2016, the World Paper Money department at Stack’s recorded about $4 million in sales. By fiscal year 2024, this figure had risen to $14.5 million. The company reported an 18% increase in sales for world paper money (which doesn’t include U.S. paper-money numbers) in fiscal year 2023, followed by 25% growth in fiscal year 2024.
Elsewhere, the Noonans Mayfair London realised £5 million, or about $6.5 million, in world banknote sales in 2023, up from £2.5 million the previous year, a representative said.
The rise of digital technology has helped broaden the base of collectors. Online auctions, forums and databases have made it easier for collectors to connect, trade and research. Greater access to information about collectible money, as well as to collectible banknotes themselves, have transformed the hobby from a game of chance to a strategic pursuit where enthusiasts can actively search for and acquire valuable pieces.
“The advent of social media such as Instagram and WhatsApp have brought in a spate of new collectors, especially youngsters,” says Rezwan Razack , a specialist in vintage banknotes and chairman of the Indian chapter of the International Bank Notes Society, or IBNS.
While social media has made more people aware of older paper currencies and their histories, the declining use of physical banknotes has made them even more alluring and fascinating to collectors.
Banknotes routinely become obsolete due to political shifts, security upgrades, monetary policies and technological advancements. The question is: Which ones are worthy possessions?
A plethora of factors underpin the desirability of collectible paper money. The major ones are:
• Condition: The condition of a piece can have a significant impact on its value. “There are bills that sell for $1,000 with a fold or two, but finding one free of any folds, stains, or tears could be worth several times that,” says Maragoudakis.
The condition of a bill is evaluated based on a 30-point scale ranging from poor to uncirculated crisp. Within each condition, a bill is given a number grade; a higher number—on a scale typically from 1 to 70—means the banknote is in better shape.
For example, a 10,000-yuan note issued in 1951 by the People’s Bank of China, graded Very Fine 20, sold for $150,000 at a Stack’s Bowers auction. Three years later at another Stack’s Bowers auction, a similar note in better condition, graded Almost Uncirculated 50, fetched $358,500.
• Serial number : Banknotes with striking serial numbers are often worth more to collectors than those without. On eBay, a rare polymer £20 bill with the serial number AA44 444444 received 16 bids and sold for more than £317.
A set of four exceptionally rare Chinese 1953 10 yuan notes from the People’s Bank of China recently sold for $432,000 because in addition to their quality, they were consecutive in serial number.
• Scarcity : The appeal and worth of banknotes, as with other collectibles, are often tied to their rarity.
For instance, high-value banknotes were often printed in limited quantities due to their significant purchasing power, says Hakim Hamdani , director at large and a collector at the Netherlands branch of the IBNS. When these high-denomination notes are discontinued, many people cash them in rather than keeping them as collectibles.
Take the 1921 10,000-shilling note from British East Africa (now Kenya and Tanzania), of which few were printed and issued. At that time, it was equivalent to about $2,000, a substantial sum in 1920s colonial Africa. When they were demonetised, most were redeemed, making the few remaining in private hands highly desirable.
Dennis Hengeveld , president of World Banknote Auctions in Sacramento, Calif., says that depending on the condition, some of these notes have fetched between $35,000 and just over $100,000 at auctions.
A rare $500 Canadian bill from 1911 brought C$528,750 (about $386,400) at a recent auction, the largest sum ever paid for a Canadian banknote. The specimen features the image of Queen Mary and is one of only four of the bills known to exist.
• Error notes : Governments often withdraw banknotes from circulation to deter counterfeiting, but also due to printing anomalies such as incorrect signatures, numerical discrepancies, misprints and typographical errors. Such deviations can elevate their value among enthusiasts.
In the U.S., double denominations—such as a front displaying a $10 bill and the reverse displaying a $20 bill—are the most prized error notes. The value of some of these pieces could top $85,000, according to Heritage Auctions.
Despite the potential for a lucrative return, experts say the primary motivation for building a collection should be enjoyment and an appreciation of the history that banknotes provide. It would be best to build a collection with the idea of having fun, says Hengeveld of World Banknote Auctions, which was recently acquired by Stack’s Bowers.
Of course, it’s essential to do your due diligence to avoid fraud. Always buy notes from established dealers and confirm their authenticity with reputable grading services. Independent grading companies such as Paper Money Guaranty and Professional Coin Grading Service provide authentication and grading to ensure notes are genuine and their condition accurately assessed.
Auction houses and local dealers offer currency notes in different price ranges. Online retailers (eBay, Amazon.com, Collectibles & Currency), dealers and galleries (Certified Coin Exchange, George H. LaBarre), and numismatic shows (the MIF Paper Money Fair and World’s Fair of Money) are other useful sources.
As well, there is no shortage of stories where people discovered highly valuable collectible banknotes in attics, books, dressers and photo frames of deceased family members. In Ontario, a rare Canadian $500 bill from 1911 was discovered among the personal belongings of a deceased individual. The nearly discarded banknote, one of only three in existence, brought $322,000 at auction.
Those looking to dip their toes into collectible money may find valuable insights in trade magazines including Bank Note Reporter and the Greensheet, or books such as the U.S. Error Note Encyclopedia and Standard Guide to Small-Size U.S. Paper Money.
Additionally, Paper Money Guaranty, the Smithsonian Learning Lab and other websites can offer a wealth of information on various aspects of grading, collecting and how to properly care for banknotes.
