- “Do a little bit every day” – If the dishes are done right after dinner, the sink won’t be overflowing with dirty dishes tomorrow. Money Translation: if I save a little bit every day/week/month, I won’t have to play catch up next year, in 5 years, in 10 years.
- “Don’t sweat the small stuff” – Focus on what can be controlled and don’t worry about the rest. Money Translation: Don’t focus on investment returns! I CAN’T control the returns or value of my investments today/tomorrow/next month, but I CAN control how much I save, how often I save, how much it costs, how I am taxed (to some extent), and how much risk I’m willing to accept.
- “Stay calm” – Keep a level head. Pause, take a moment, think, and then respond. Money Translation: Whether it’s in fear or greed, making a financial decision when my emotions are at a 10 out of 10 will rarely lead to a positive long-term outcome. Don’t make impulse decisions!
- “Be generous” – If a hand is needed, lend a hand. If an ear is needed, lend an ear. If a shoulder to cry on is needed, lend a shoulder. What you give in life will come back to you ten-fold. Money Translation: Whether it’s to a family member, church, charity, or a stranger on the street, make giving a part of my life. If I can give money, give money. If I can’t give money, give time.
- “There’s more to life than money” – Don’t let money and the pursuit of it (i.e. work) consume life. Be present in the moment and enjoy time with your family. Money is the servant, not the master.
Happy Mother’s Day, Mom! And Happy Mother’s Day to all the other mom’s out there.
With that said, here are the stories that caught my eye this week:
MONEY: The Stages of Financial Freedom (Get Rich Slowly)
Financial Freedom is a spectrum. It’s not an “all or nothing” event like we tend to think of with retirement, but rather a progression in our relationship with money from simply “surviving” to “thriving”. The article provides an interesting way of viewing our progression by giving “stages” or checkpoints for monitoring our progress along the spectrum.
LIFE: Letting Go (The Simple Dollar)
Clutter = Stress! We all have a place for clutter in our homes. For some, it’s simply a small drawer, and for others, it’s an entire room or garage. For me, it’s a small corner of unpacked moving boxes in my basement. The boxes bring me no joy. Even though they’re labeled in Sharpie, I couldn’t tell you what’s in half of them. What I can tell you is that my stress level increases every time I see them. Letting go of clutter can be hard, but sometimes it’s the best thing we can do for ourselves.