Money doesn't really talk, but what if it did? I thought about this after getting one penny back in change today after buying cookies for a co-worker's birthday feast.
The penny was minted in 1976, which means it's been bouncing around for 27 years. Abe's face on it wears time's tarnish, scratches, fingerprints and dirt with pride. But sadly, Abe is silent. How cool would it be if that penny could tell me the stories about where it's been and how it was spent over all those years? It was born in Denver, but who knows where it's been since?
In some ways, money does talk:
• How someone handles money says a lot about them. Financial savvy reduces stress and actually makes money less important. Do you save? Do you blow it on the latest and greatest whatever? Are you living paycheck to paycheck?
• In the same vein as "how," what you spend your money on says a lot. You could say this entire list is about that dreaded "P" word – priorities. What you find important usually gets your money and your time. Your check register can serve as a wakeup call if you are chasing daydreams with dollars. Are you getting your money's worth?
• I think most of us want more money. We are a consumer-driven culture and many of us are living beyond our means. We're on the edge ourselves because of debts caused by a plumbing slab leak, emergency car repair and buying a new computer. Without the latter, the Petite Filet wouldn't be able to work from home at all. All Catch 22s. All painful. All debt. If we didn't have debt, we'd be doing fine ... until the next emergency came along.
• "Money talks, b.s. walks" is a popular saying as well. Having money can open doors, help you run for political office, get you some bling-bling, etc. But this outlook speaks to the rest of the list. Do we want money for money's sake, or for the power to buy stuff? No matter how full your life is with stuff, your life will feel empty if that's all you have. People buy more and more stuff because stuff never satisifies. The happiness is temporary. Stuff can't love you back.
• It's never been easier to spend money. With checks, credit cards, bank debit cards, telephones and the Internet, you can spend your money 24 hours a day – while you're asleep. The clincher: other people can spend your money, too. Ever since our brush with identity theft, for us cash is the new money. Any time our card or card number would be sent to somewhere we can't see (including waiters who take our card), we use cash. No Internet or phone transactions. It's not worth it for us. No e-Bay. No Amazon. No 1-800-PET-MEDS.
• How weird is it to have "In God We Trust" written on our money? The Bible says "No one can serve two masters." Money and its related trappings serves as master for so many people that there's little room for God. Yet there's the phrase on every bill and coin. I like it there, but I don't know how many people trust in God because of its presence. People would be amazed how much more fulfilling life is when you worship the right Master, and then they'd see how silly the pursuit of money really is.
• The phrase "money is the root of all evil " is thrown around a lot, but biblically, the phrase is "the love of money is the root of all evil." Money is necessary; loving it isn't. Money itself isn't evil. Greed is never a compliment. There are some other biblical teachings on money that apply, but I won't go into them for now.
• Some of us pin a lot of our hopes and dreams on money. But money can wash up on the beach of your life during high tides, and then be taken away as the tide falls. I have read about several lottery winners who are now bankrupt because of their attitudes toward money. Had they wisely invested their winnings, gotten out of debt, and been conservative about spending the bulk of it, they could have attained reasonable financial security for the rest of their lives.
Money's not everything. It's not the only thing. Some of us are struggling, and we may think money will make things easier. It will for a little while. But so will a change in attitude, which can be permanent. Don't rely on money (or credit) so much! Don't overstretch your budget. Buy a used car and pay it off. Use credit for emergencies. Have a plan of attack to get out of debt (more on this some other time).
I'm not a fan of the much-heralded Atkins diet, but maybe using it as a financial guide would help. Cut the empty calories in your spending. Put your money toward high-protein/worthwhile expenditures. Feel full in your life, not because of the money, but because you know what's really important.
I'm always inspired by those stories of the washerwoman who leaves millions to a women's college, or the shoe shiner who donates all of his money to charity. Wealth is not about your salary; it's about spending less than you earn.
Someday I want to achieve that financial security.
I use the phrase "If I just had more money..." almost daily. Not a good way to go through life, I admit.
did you see whereisgeorge.com ... bill can talk!
I spend most of my money on travel, equipment (photo and software) and continuing education (classes, books, etc).
I could probably save more - but buying that loft and having an enormous nest egg aren't priorities for me right now.
You forgot to mention one other way money is powerful - and I guess this falls under spending - giving it away. Philanthropy can open many doors as well ... especially when your intentions are genuine (as opposed to "buying your way into society"). Not only does giving away money help the charity (and inspire the recipients to one day give back to the community), it also encourages goodwill throughout that community.
It always amazes me that the people giving to charities often aren't the wealthiest, but those in the middle to lower income brackets. Perhaps it's because the rich kids never needed charity and feel no compulsion to contribute to the welfare of their fellow man.
We are the weirdos who put away as much money as possible. Sometimes I think we are thinking too far ahead and aren't enjoying now as much as we could (i.e. vacation).
Fabulous post. S. and I are looking down the barrel right now of what to do with a mass of debt that our married life together will be "inheriting," as in, left over from psycho ex wife who just refuses to pay stuff. And we're going to pay it, and we're going to get along just fine, because we're going to have each other. We're coming to terms with the idea that money isn't everything.
The good news about that is, since he's in the military he's used to not having much of it, and since I'm not what you'd call in a "high wage cluster," I'm used to not having a lot of either... but together, we'll have more than we've ever had and will be able to pay those debts. It'll be inconvenient, but it'll work.
And we'll have what really counts, which is one another.
Amen, brother.
www.wheresgeorge.com
Go check it out, this is where money can talk!
-d
I wish I had read this about 7 or 8 years ago. Anyway....it's all good advice! I only want MORE money right now to get out of debt faster. I'd be financially sound right now if I weren't paying people for letting me have crap "on loan"!!
I'm a saver. Even when I've had a lot of "security", I've always saved. My happiest memories have nothing to do with things. Period. I've had the nice things - an expensive car - I've traveled first class - I've wined-and-dined at some pretty posh resorts, etc.. These are not amongst my truly happy memries. O.K. - as Arthur would say - it didn't suck - but... :-)
My life is good because I have love.
Another thing - I've found when I've been at my lowest points financially, and I've remained faithful about giving - whether it be to church, or charities - things always seemed to work out.
somehow...i'm feeling less panic about everything after reading this post.
ahhhhh.....refreshing!
T Bone. It is not so much the money itself, but more what the money can do for our quality of life that counts. But, your point about 'stuff' not being able to love you etc. is well taken.