Posts

Showing posts from October, 2016

The Financial Trap of Buying Your Way Out of Life’s Little Challenges by Trent Hamm

Image
It's easy but expensive to pay someone else to solve your problems. Challenge yourself to take care of things on your own for a month. A few weeks ago, someone close to me was driving home from work when suddenly one of their tires blew out. At that point, this person had some options. They could try to change the tire themselves and drive on their spare tire for a while. They could call a friend. Or they could call a roadside repair service. (It was a reasonably cold day, but not so cold that one couldn’t stand outside for a while, so the weather wasn’t an issue.) In this situation, my friend ended up choosing to call a roadside repair service. The service ended up costing about $100 and the total wait time was about an hour or so. Even worse than that, the tow truck pulled into a tire shop that my friend didn’t normally do business with, where they were able to charge quite a bit for the tires. Now, let’s compare that to what would have happened if the person had simply trie

You Can’t Buy What You Want To Be

Image
Almost everyone has an idealized picture of who they’d like to be. It’s a picture that they measure up to in some ways and fall short of in others, and thus it becomes part of a personal dream to find ways to measure up in those areas that are lacking. I have personal goals and entrepreneurial goals and hobby goals, all of which lead me to being the person I want to be. I want to change some aspects of who I am. I want to build a business or two. I want to become more involved in my hobbies. Those elements all contribute to that picture of who I want to be. The thing is, in each case, it looks very tempting to just spend money as a shortcut to get to that destination that I want. I can see where I am. I can see where I want to be. And spending money looks like a tempting shortcut across that chasm. It’s an illusion, though. The path from where I’m at now to where I want to be has a cost, but that cost is almost always time and effort, not money. You can’t buy who you want to be. He

Filling the Empty Spaces in Your Life

Image
See if this sounds familiar to you… You’re sitting there waiting for something to happen. Maybe you’re in a doctor’s office waiting room. Maybe you’re on the couch waiting for your wife to come home. Maybe you’re just feeling directionless at the moment. Whatever it is, you feel as if you don’t know what to do with yourself right now. You grab a magazine and flip through it but don’t really engage with any of the articles. You pick up your phone, browse through a few meaningless social media posts, put it down, then pick it up again a moment later and do the same thing. Maybe you play a really dumb smartphone game for a minute or two. You fidget. You look around. You feel like you need something to fill that empty space. Or how about this… You have this vague idea in the back of your head that you need to get into better shape physically and maybe mentally and emotionally and spiritually, too. It’s a nagging voice in the back of your head. Both of those things are what I like to

Personal Finance and Magical Thinking by Trent Hamm

Image
It’s a very joyful picture for me, but there’s one big problem with it. That daydream completely glosses over what I had to do to get there. It overlooks the many, many years of work and savings that it would take to achieve that goal. Without a ton of hard work, that wonderful vision is not a realistic outcome. It’s magical thinking. So what exactly is magical thinking? I like Wikipedia’s explanation: Magical thinking is the attribution of causal or synchronistic relationships between actions and events which seemingly cannot be justified by reason and observation. In religion, folk religion, and superstitious beliefs, the posited correlation is often between religious ritual, prayer, sacrifice, or the observance of a taboo, and an expected benefit or recompense. In clinical psychology, magical thinking can cause a patient to experience fear of performing certain acts or having certain thoughts because of an assumed correlation between doing so and threatening calamities. Magical t

Success Is For People That Dare To Be Different

Image
I grew up afraid of being different. I think we all did. Think about this for a second… Do you need an example? Ok – fine. Think back and remember someone popular in your high school. Didn’t you want to be just like him? Want her clothes? His personality? Her boyfriend? You might have even tried to mimic them a little bit. Don’t feel guilty though – not unless you still look at that person’s Facebook profile every day and study it for hours. For some reason, a very vivid image comes to mind… Being different One day, I went to pick up my sister at the bus stop and EVERY GIRL (but her) got off the bus with the EXACT SAME Abercrombie bag. Our children grow into adults that don’t know any better. But this comes with great reason. In our world, it is brutally uncomfortable to be different. Mass media, and the resulting social pressures, make it that way. For example, if a women is not a size 2, with a huge chest, then she is automatically seen as fat. Oh, and it’s really socially unaccept