Say Good Morning to Your Money

I like the column Laura Rowley writes for Yahoo Financial. Like me, she is old school, a champion of such simple virtues as, “Live within your means; build your skills and get a higher-paying job; stick to a budget; remain debt-free (except for a mortgage); save monthly for big goals, including college and retirement; learn about investing, risk and taxes so you do the right things with your savings; and yes, research deals and clip coupons.” Sometimes Laura puts an interesting spin on familiar material. I think this is because she learned about money as a financial journalist in order to become a stay at home mom. She is still a successful freelance journalist but her priorities are somewhat different than mine. In a recent column entitled “Improving Your Relationship with Money” she compared our relationship with our money to more normal human relationships. Reading this column sent my mind spinning off into directions I doubt would have occurred to the author. Here is my riff on her subject.

It’s true. We have expectations for all sorts of relationships with people, animals, things, and concepts. Recently, one of my coworkers was shopping for a new car. This young lady was explaining what she wanted in a car. I commented, “You want the same things from a car you want from a boyfriend.” She was puzzled and asked me what I meant by that statement. I replied, “You want it to be cute and reliable.”

She laughed and agreed with my observation and added, “I given up on trying to find a boyfriend who is cute and reliable. Maybe I will do better with cars.”

I once heard a psychologist state that he did want much from a relationship with a woman. He only wanted her to provide for all his sexual and emotional needs for the rest of his life. Is this all that different from what I am asking my money to do for me not just now in the twilight years of my career but on into retirement and old age? If I want to have a good long lasting relationship with my wife or even a friend, it will require an investment of time and emotional energy. Why should my relationship with money be any different?

“Good morning money. How are you feeling today?”

“I’m tired. I didn’t sleep very well last night.”

“What’s bothering you?”

“I don’t want to talk about it.”

“Did I do something wrong?” At this point my money scowls at me.

“You know I don’t think you should be wasting me on all those lottery tickets.”
(As an aside, I recently learned that the average, THE AVERAGE, American family spends over $500 a year on lottery tickets! Really!)

“I’m sorry. I am just bored and want something good to happen in our lives.”

“Well, why don’t you try investing me in something that is good for me, like that retirement account your friend at work has been talking about.”

“Yea, I’ll try and do better. I’ll talk to my boss about that today.”

“Thanks.”

I think you get the idea. Laura ends her article with a call to treat our money with the same kind of respect and commitment that we bring to any relationship. I wouldn’t have thought of such a thing, but I like it.

http://finance.yahoo.com/banking-budgeting/article/109226/improving-your-relationship-with-money