I’ve spent a lot of time over the last 5 years or so reading personal finance blogs, message boards, books, websites…you name it, I’ve read it. I’ve read the books and information you’re “supposed” to read and a few that maybe don’t give the greatest information. I’ve absorbed stories of the successful and those affected by the recession. I’ve embraced get out of debt stories (and have even told a few of my own). But the more I read, the more I realize that there are a certain number of “money truths”, and when we read or write them, we’re just putting our own spin on them.
It’s kind of like how TV shows or movies recycle types of characters or plot lines. There’s only a finite amount of ideas, but how you present those ideas is infinite. Each writer or blogger is going to give you these money truths, hopefully grounded in their experiences and knowledge and not trying to pass themselves off as something they’re not. Those stories are what make the truths interesting. And those stories are what make the information stick.
I’ll tell you that Money magazine makes my eyes go dry from boredom. There are some blogs and websites I can’t read anymore because they’re dull and preachy and kind of condescending. And I have stopped reading several books because, although they came highly recommended, I couldn’t get through 4 pages. I retained almost nothing from those (although a small nugget may slip through now and again. My brain isn’t totally blocked). But the blogs, books, and websites that spin that information in an entertaining and engaging way? That’s the information that seeped in and stuck to the recesses of my brain.
Based on all of this, I’ve come up with my list of 15 Truths about Money That Shape the Way I Think. And here they are:
- Marry for love, not for money. But make sure you talk about money.
- Spend money on things that matter to you even if someone else tells you it’s a waste.
- Have a budget. You need to know where your money is coming from and where it’s going.
- Take time to enjoy what’s free even if you have more money than you can spend. No amount of money can replace the beauty of sunset or a rainbow or playing fetch with a dog or the warmth of a hug.
- Do something you love every day.
- Know your financial priorities and plan accordingly.
- Save money even if it’s $5 per month or loose change in a jar on the counter, make an effort to save.
- Know the resources in your community just in case you fall on hard times.
- Give back. It can be time, services, goods, or money. But give something.
- Don’t judge someone else’s choices. Because what you see may not be what it appears.
- Ask for help if you need it and don’t be ashamed.
- The Joneses are idiots. Ignore them, in real life and on Facebook.
- It’s okay not to follow every piece of advice dispensed. Do what works for you.
- Not all advice is universal. Some will not apply to you. That’s doesn’t make it bad advice, it just makes it useless to you. Don’t berate someone else for using it.
- Money should never be more important than your loved ones.
I’m not going to say that I’m perfect and I abide by these every day. But I do try.
And that’s good enough.
Readers, would you add anything to the list? What would you add?
Jana,
You’re saying money isn’t the most important thing in life?! WHAT?!
I kid. Great list, especially Nos. 1, 5 and 15. I’m big on telling my friends who are complaining, “It could be worse.” They often reply with, “How?!” I just say, “You could be dead.”
Every day, I make an effort to count my good fortunes. I have my health, friends, family, warm bed, warm meals and so much more. It’s easy to take it for granted, but I try not to.
-Christian L. @ Smart Military Money
I like #12. So true. It’s hard not to size up in you own mind how wonderful everyone else’s life is…or how it “appears” to be. Truth is we just don’t know.
Budget & the Beach recently posted…Yoga Snobs
Great list! I think key in a lot of it is that you have to live for yourself and your immediate family and not others. What works for some may not work for you. There are some basics to hold to, but how that’s filled out is up to you and how it benefits you the most.
John S @ Frugal Rules recently posted…Frugal Friday: Posts That Ruled This Week, Thanksgiving is NEXT Week Edition!?
Love this list Jana! I love #1 and #4 the most, but #12 is just so spot on; comparing oneself to others is fruitless.
Have a great weekend 🙂
Mackenzie recently posted…So, I Fell Off The Bandwagon…
Great points! I especially like the money truth that not all advice applies to you but that it’s not bad advice. I think that’s true for all advice, but it definitely applies to finances.
Christa recently posted…Is a College Degree Worth the Money?
I tend to look at advice as a suggestion rather than a “must-do”. You can pick and choose what’s most appropriate for your life but you don’t have to do anything that doesn’t feel right or seem like a good fit.
Loved the one about keeping up with the Jonses. You just don’t know sometimes.
It’s true. There’s a specific person I had in mind when I wrote that and while it seems like, on the surface, her life is perfect (including financially), it has been peppered with so much tragedy it’s ridiculous.
How are there only 6 comments on this post!?
Jana, this is honestly the best post I’ve read in our community in a long, long time. I feel the same way you do about so much of your intro. I’ve read a few good books but can’t get past first paragraphs of many others. Money magazines bore the absolute crap out of me. And I’m more drawn to real-life posts that have a human touch versus anything that is even slightly how-to related.
The only thing I would add is that, it may take a different life event for everyone to come to this conclusion, but material objects are completely meaningless. Last year, I spent 6 months living in my parents’ spare kitchen. Yes, my bed and an oven were in the same room. There was no decor to pretty it up and the only thing that was “mine” was my bed, clothes, and toiletries. I was maxed out, working on my debt repayment plan, and should have been depressed. But I was surrounded by so much love and support.
Don’t waste your dollars on things that don’t matter. People are what count.
Love love love this.
Cait recently posted…Big Surprise! My Best Financial Tip is…
Cait, I couldn’t agree with you more. Objects don’t matter. People do. Spend your money accordingly.
Ah! Do I sound like Suze Orman?!
And thanks for all the nice feedback. I appreciate it!
I like them all, but how about: don’t fit yourself into a ‘budgeting box’ that isn’t comfortable for you….
Jon recently posted…How to get more movies on Netflix
I like that one! And I completely agree. Your budget needs to work for you , not someone else.
Love number 12! Great list. And like you there are a ton of blogs I used to follow but just can’t anymore because they just keep pushing out dry posts or regurgitated content everyone’s read before.
Mo’ Money Mo’ Houses recently posted…Why I Don’t Think Hiding Your Spending is Such a Bad Thing
Thanks! Those blogs are the ones that upset me the most. If you want to have a blog, fine. But please publish original content or at least an original spin on evergreen content. It’s no fun reading the same 5 identical posts over and over again.
Don’t sweat too much over the small mistakes on the way. What is done is done anyway. Make sure you do better next time.
Pauline recently posted…Friday recap, a boat ride and a giveaway!
Blonde on a Budget tweeted a link to this and I’ve gotta say – completely agree!
Thanks, Clare and thanks for stopping by!
There is a peace when you are out of debt and don’t have to worry about juggling the next payment. Donate your most valuable asset – your limited time on this earth to helping others and God bless.
No one cares more about your money than you do.
These truths should be in a book and maybe then I would be more interested in reading those personal finance books. #1 speaks out to me. My parents never really talked about money and my dad hid some things from my mom which caused fights but thankfully they are still together.
MakintheBacon$ recently posted…The 13th Month of the Year: “Christmasember”
My favorite money quote (might be from Dave Ramsey), We buy stuff we don’t need, with money we don’t have, to impress people (Jones?) we don’t like!
Rod J. Rogers (@FreeAgentRogers) recently posted…Now is the PERFECT time to start an Office Cleaning Business