#scottsfab50. A 50 day exercise in thankfulness. Day 14. Today I am thankful that I have an understanding of money. Please note: this is different from being thankful for money. I mean, who doesnt like a solid cash flow? No, this is about being thankful for early and ongoing education in the way money works. This education comes from many sources. Part of it was growing up in comparatively meager circumstances. You learn to make do. When I attended prep school as a day student, I was there on serious scholarship, and surrounded by kids who were worth a LOT more than I was. And guess what? They werent particularly any happier than I was. I caught on to that early. Mom Despins started me off right. She was open with me about finances. She taught me delayed gratification through things like the old Christmas Club savings accounts at the local bank. She was heavily involved in the Credit Union. One of my childhood board games (which I own to this day) was put out by CUNA (Credit Union National Association). Its called Managing Your Money. To win, you had to pay back your initial $2000 loan, and accumulate $2000 in savings. I dont like things that come with recurring costs. I quickly understood the concept that there is a major difference between Able to make the payments and Able to afford it. Along with Mom, my stepdad Phil, Dad Piehler, stepmom Edna, and many others taught me the value of doing it yourself. To this day, I have people who are amazed that I replaced all the windows in my house by myself. Dad also taught me that barter is a useful tool. I learned that the best might not always be the best. The top-of-the-line is usually overpriced. But the model two steps down? Same guts, 2/3 the cost. By the same token, I learned that there is a chasm of difference between cheap and inexpensive. Cheap costs you money in the long run. As Ive noted in an earlier post, Mom taught me You dont get what you deserve, you get what you negotiate. That, combined with Uncle Dave Bourguignons stunning relationships with his suppliers taught me that the deals arent always publicized, and it never hurts to ask, and oh by the way Is there a discount for cash? Im not a miser by any stretch. I enjoy my toys and my splurges. But I recognize them for what they are: extras. My time in marketing helped cement the difference between a want and a need. To this day, I have no problem with people buy stuff they want. But when someone who drives flat paved roads in Metro Atlanta with no real cargo tries to convince me that they need something like a $60,000 4WD SUV with 10,000+lbs towing capacity, lets just say Im skeptical. I watched my Mom invest wisely, and live frugally. I watched my Dad build a 100 acre paradise on the salaries of a housepainter and a nurse/Army Reserve officer. I realized there are different paths to wealth. But there are no real shortcuts. I would rather buy an experience than a thing. Ive always been that way, and it turns out, thats a trait shared by many wealthy people. When we took advantage of Volvos Overseas Delivery program, combined with credit card rewards, we basically sliced 1/3 of the price of the trip off. I cant think of a single thing that I could buy for that money that would bring the joy that those 18 days in Europe still bring. I am also thankful that my years with McKendree taught me the art of giving. I used to have great difficulty donating. Now, its as natural as breathing. Finally, I am thankful that when I see someone with more than me, I dont immediately think Oh, theyre lucky. Odds are, they worked for it. My Dad paints houses for people who could buy and sell him 100 times over. And I learned that the truly wealthy dont flaunt it. They dont spend money they dont have to. They look for lasting value. Thy appreciate what they have. They dont worry about labels, they appreciate everything they have, and they share in their abundance, without being pushy about it. And those are lessons we can all learn, regardless of income level. Its not about the dollars. Remember, its not money thats the root of all evil. Its the LOVE of money. And Im thankful to all the people who helped me realize money is a tool, no more, no less. And tools can tear down, or build up. So glad to have been taught by builders.
Posted on: Wed, 25 Jun 2014 14:08:28 +0000
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